We are a nation of “do-it-yourselfers,” and with good reason: why? Many do it for an economical benefit, while others do it for the pride of accomplishment, but whatever the goal, doing it yourself often seems like a gratifying option. But what about DIY property listings and transactions? What is the value a professional consultant brings to your sale?
Statistics from the National Association of Realtors (NAR) show that, on average, using a qualified consultant or agent earns a 19% higher purchase price than the FSBO or DIY seller. There are a variety of reasons to support this. A qualified consultant has expertise specific to your property. Not only that but they work with buyers and sellers on a consistent basis. Longtime consultants such as Ken Currier or Aaron Cutler understand the marketplace, and how to negotiate for the best price and terms for you.
Not to mention that 19% number refers to residential sales. There are probably thirty such transactions taking place in your town right now, so there is an abundance of information by which to compare and value your home. Gas station/c-store transactions are much rarer, and therefore we have much less information to rely on in valuing a business so it is essential to find a professional who knows and understands your business’s worth. Often, this transaction is the only one that an owner will do in his or her life, and it will likely serve as the basis for retirement, so it is crucial to get it right.
What about the satisfaction of doing it yourself? To address that question, it’s probably best to consider the complexity of a sale of a gas station / c-store is (even for a single site).
There are at least seven different permits and licenses for each gas station or C-store, spanning multiple town, state, and governmental agencies. Let’s not forget the
environmental component, legal liability, and financial due diligence, among a host of other factors. The beauty of a DIY sale begins to crumble as time goes on and it becomes increasingly more complicated as well as more time-consuming.
A competent agent will have a carefully curated network of other professionals who can make the transaction as smooth as possible while being able to address any issues that might crop up. Helping to put your mind at ease.
It’s tempting to take on the task of listing, marketing, and selling your property, but there are professionals to help you for good reason; selling your property is not easy, it takes significant time and effort, and the potential for costly errors increases dramatically. The best thing a seller can do is reach out to a good firm that knows the c-store and gas business. Shop around and find someone you trust, and who has the background and experience to guide you through the process. It will save you time, money, and certainly headaches.
At C-store Investments, we are watching the developments, local, regional and national, that affect our industry and we put our experience, expertise and analysis to work for you. Please feel free to call or email us to discuss anything about your business or the industry as a whole. We would love to talk to you.
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