Why engage a real estate broker?
Do you or other teammates own a house? Did you buy or sell that house by yourself or did you use a real estate broker? Chances are you used a real estate broker.
Invariably as a nonprofit, your biggest asset is your real estate. Buying and selling a church, school or other commercial property for your use is a lot more complicated than selling a house. If you used a realtor for a residential property, you definitely want to engage a real estate broker for your church or school.
How do we determine our best buyer?
Because of Tom’s background in commercial real estate and his focus on churches and schools, he has a large and diverse perspective. He is able to advise whether the highest and best buyer is another church or school or perhaps the best buyer might be a redeveloper. What type of redevelopment: multi-family, single family, senior housing, affordable housing, mixed use? Tom has contacts, experience and networks with the different types of redevelopers. Further, he has the expertise to create a competitive environment for his client’s property and advise how to select the best buyer.
How is Tom compensated?
Tom works on a contingency basis or what is referred to as a “success” fee. He does not receive compensation unless the transaction is completed and successful. Other than specific requirements, he does not charge consulting fees or by the hour.
If Tom is the listing broker of a property, he receives a sales commission at the closing of the sale. If he represents the buyer, again he receives a commission at the closing of the sale. His fee is typically paid by the seller or owner of the property.
What is a real estate broker’s agency?
Under Colorado Real Estate Commission (“CREC”) policy a real estate broker needs to disclose in writing his or her agency to the parties involved prior to the transaction. There are four different agencies for a broker:
To learn more ask Tom to send you CREC’s Definitions of Working Relationships.
Who are some of Tom’s other clients?
To learn more ask Tom for references and/or check his website.
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