WHAT’S YOUR PROPERTY WORTH?
If you’re contemplating selling or leasing your commercial property, we offer a complimentary building evaluation, known as a Broker Opinion of Value (BOV). To determine value accurately, we analyze various data points including market trends, local sales comparables, current available properties, your building’s condition, construction expenses, and prevailing investment patterns. Following the data compilation, we’ll meet with you to discuss all the factors contributing to the pricing range.
BROKER OPINION OF VALUE VS. AN APPRAISAL
Appraisals often come with hefty price tags and may not always be essential depending on your circumstances. In such cases, a Broker Opinion of Value (BOV) can serve as a viable alternative to a traditional commercial real estate appraisal. While a BOV isn’t a substitute for an appraisal when seeking financing, it can still be invaluable for assessing changes in ownership structure, strategic planning, or other financial considerations. We’re pleased to offer affordable Broker Opinion of Value (BOV) and commercial property valuations in Fargo-Moorhead.
WE OFFER OUR BROKER OPINION OF VALUE AS A FREE SERVICE
If you’re considering selling or leasing your commercial property soon, our Broker Opinion of Value (BOV) is offered at no cost. We prioritize fostering relationships and view the BOV as a gateway to assisting you with your commercial property transaction in the Fargo-Moorhead area. If you need a BOV for other purposes, our fees are based on an hourly rate.
GET YOUR FREE BROKER OPINION OF VALUE
OUR PROCESS TO DELIVER YOU A COMPREHENSIVE BROKER OPINION OF VALUE (BOV)
1. DATA COLLECTION:
We gather relevant information about your property, including its location, size, age, condition, tenant information (if applicable), and any recent improvements or renovations.
2. MARKET ANALYSIS:
We conduct a thorough analysis of the local real estate market to understand current trends, comparable property sales, rental rates, vacancy rates, and other relevant market factors.
3. COMPARABLE SALES APPROACH:
Similar to an appraiser, we look at recent sales of comparable properties in the area to estimate the value of your property. Adjustments are made for differences in size, condition, location, and other relevant factors.
4. INCOME APPROACH:
If your property generates rental income, we may also use an income approach to valuation. This involves estimating the property's potential income based on rental rates and expenses, and applying a capitalization rate to determine value.
5. COST APPROACH:
In some cases, particularly for newer properties, we may consider the cost approach, which estimates the value of your property based on the cost to replace it with a similar property at current construction costs, adjusted for depreciation.
6. FINAL ANALYSIS AND PRESENTATION:
Based on the data collected and analysis performed, we provide a comprehensive Broker Opinion of Value (BOV) for your property. This typically includes a range of potential values based on different valuation methods and factors affecting the property's value.
7. CLIENT CONSULTATION:
Finally, we meet with you to discuss the Broker Opinion of Value (BOV) findings, including the factors influencing the property's value and the recommended pricing range for selling or leasing your property.
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