The sale of a commercial property worth tens of millions of euros to an investor is, in general, similar to the sale of any other property, although it is not within the reach of many real estate agents. This level of transactions requires preparation, experience and mastery of a number of aspects that will be summarized in this article:
1. The parties involved in the transaction, buyer and seller, are individuals, entities, investors, high net worth individuals accustomed to corporate transactions and advised by specialists in each of the fields that require the same, so the real estate agent has to be extremely professional in their participation, including treatment, appearance, professional language and knowledge.
2. In transactions with investors, the emotions associated with the purchase and sale of a property do not come into play. In this case, we are talking about numbers, business, profitability, and, in order to close them, we must master them.
3. In-depth technical, financial and legal knowledge are indispensable to be able to participate at the same level as the parties involved and their advisors in the meetings that are necessary to define and finalize all the details. Without this knowledge, the credibility of the parties in our work and in the numbers on which we support the sale is lost.
4. Based on that technical knowledge we have to carry out our own due diligence (technical and legal audit) to be sure, even before offering the product, that it is really saleable. We can completely lose the credibility and trust of a customer buyer at this level if we offer products that finally cannot be bought because we have not done our previous research work.
5. Although it may seem obvious, it is essential to study and know each of the parties and, in great depth, the product we are selling. You must be excellently prepared before any call or meeting with the intervening parties or with any of their advisors. Things cannot be left to chance or improvisation, since not having the situation under control or saying something inopportune can cause the loss of an operation that takes a lot of time and effort to put together.
6. We have to be problem solvers. During the operations multiple and diverse problems will arise and we must attack them in a proactive way and not wait for them to solve themselves or for them to be solved for us.
7. Mentality is very important when talking about this level of transactions. We have to show tranquility and confidence in what we are doing. We have to control the timing of the transaction in a professional manner and we cannot become desperate to close. The profession is carried inside because it is inevitable to think about the fees that can be generated, but we must control the anxiety so that it does not become visible at any time. The parties, in general, will not accept the pressure to close and each one will try to set its own time. Our work in this sense has a psychological and a diplomatic part.
8. We are talking about numbers, costs and profitability and the operation will not go ahead if the two parties do not reach a mutual agreement in which both are winners (except in certain special cases), so we must enter the negotiating table knowing the numbers of each party and where the common objective that satisfies each one is. And, as mentioned before, always remain calm, which is necessary in any negotiation, but imperative in closings at this level.
9. Discretion is fundamental, understanding it in a double sense, the first one in which we are talking about high level people or entities that, in general, prefer the anonymity of the operations and; the second one, in which an indiscretion can make that the operation reaches the knowledge of third parties that, with opposed interests, can anticipate or ruin the same one.
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After this enumeration it may seem obvious that any real estate agent can close a high level transaction and the only thing needed is to prepare for it, which is not difficult but it is hard and requires a lot of work and dedication, however, and in reality, there are not so many agents who are really trained. The numbers involved sound very attractive and this makes many agents try, waste a lot of time and end up getting frustrated because, as in everything, you can't try to run a marathon without having run a mile first.