SIG agents communicate effectively with ESL broker and buyer who speak limited English and effectively negotiate deals for clients despite language barriers
Sands Investment Group Walks ESL
- 5.07% Closing CAP
- New Loan, Private Buyer
December 21, 2017 – 374 Milpitas Blvd, Milpitas, CA 95035
Working with buyers and brokers with limited English skills requires skilled commercial real estate agents. SIG agents use their vast commercial real estate knowledge to help clients with buyers who are ESL (English as a Second Language) speakers.
In addition to the ESL challenges, the buyer and broker were also unsophisticated investors. They needed additional help with several aspects of the transaction process. While it would have been easier to choose from one of the other offers generated, SIG agents Chris Sands and Dan Hoogesteger were able to walk both the buyer and broker successfully through the process providing the client, Dave Dollinger, with the best possible profit.
- Most profitable offer was submitted by an ESL buyer and ESL broker
- Buyer and broker were unsophisticated investors and needed additional assistance throughout the transaction process
- Bring awareness of the available property to buyers via creative marketing
- Emphasize location of lease
- Detail value aspects of the specific build out features included in lease
- Develop comps and market information to support pricing with the bank
- Engage with multiple buyers to bring client multiple offers
- Found buyer at a 5.07% CAP
- Generated multiple buyer offers
- $6,650,000 Win
Client had a commercial real estate property that he was ready to offload in order to apply the capital to other areas of his portfolio. SIG used proprietary technology to create a client-specific marketing plan for the client that emphasized the value of the property. The property was an office industrial building and was 100% occupied with four long-term tenants. Each tenant had annual rent increases attached to their lease and were required to pay a 4% management fee.
The location of the building made it a lucrative choice for investors, as Milpitas, CA is a well-known electronic and technological business hub. Milpitas is home to Cisco Systems, Linear Technology, Adaptec, and Phoenix Technologies to name a few. During the day, Milpitas population increases by 20% because of the large work population. The building had ample parking with a 2.5 to 1,000 ratio and came equipped with lab conference & storage space in addition to one dock and grade level door. Easy driving access to I-680 and I-880 made the building a perfect spot for commuters. SIG highlighted the location and ease of access to potential buyers and investors.
Innovative marketing strategies using SIG’s proprietary technology allowed SIG agents to zero in on potential buyers and investors who would appreciate the property. SIG agents generated multiple offers through these client-specific marketing strategies and found the best buyer option.
The deal was challenging in part because the buyer and broker with the best offer were not sophisticated investors. SIG agents had to step in and help guide the buyer and broker through the transaction. Furthermore, the buyer and broker spoke English as a Second Language and communication barriers impeded the process. SIG agents brought their wealth of experience in commercial real estate to gently and calmly walk the ESL buyer and his ESL broker through the intricate transaction process for a $6,650,000 sale.
- Over $3,200,000,000 in Closed Transactions
- Over $500,000,000 in Active Inventory
- Over 1,300 Transactions in 48 States
- Focused on Creative Marketing
- Net Lease Industry Leader
- SC25 Fastest Growing Companies
- Real Estate Forum Names SIG to Its List of Commercial Real Estate’s Fastest-Growing Companies, 2016 & 2015
- CoStar Power Broker Top Firm Awards, 2017 & 2016