At Knapp Properties, it’s our job to use our experience, knowledge of the region and trusted name in negotiations to efficiently find a property for you so you can focus on your business. We own and manage more than 3 million square feet of commercial, retail and industrial real estate along with more than 5,000 acres of land in Central Iowa.
Our real estate brokerage experts want to help you better understand the services we offer and your options so that together, we can find the right property for you.
What is real estate brokerage in real estate?
A real estate brokerage firm represents sellers or buyers of commercial or residential real estate. The firm is made up of broker certified agents who act as a middleman in a transaction by connecting buyers and sellers for a transaction fee or commission in return. Brokers who choose to work independently can do so, as well as start their own firm.
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What are the different real estate property types?
Retail space, office space, commercial real estate, and residential real estate are the four different types of real estate property, and each has multiple sub-categories that fall under them. Our real estate brokers at Knapp Properties would be happy to help you figure out which is best for you and your business Read on to learn more about your options.
A retail space is any brick-and-mortar storefront that is primarily engaged in the rental or sale of goods and/or services. These spaces are highly sought after by businesses looking to generate more foot traffic.
Retail real estate can be occupied by a variety of businesses from clothing boutiques to high-end restaurants. Because of the heavy traffic they attract, it’s typically more costly per square foot to rent retail space than your average office space.
Office spaces are rooms within a building that provide a functional space for which a business can use to operate. An office space is a commercial real estate property, and can be in one of three categories: Class A, Class B, or Class C. Each class is based on the quality of the office space including the building’s age, amenities, and aesthetics. Before you rent an office space for your business, there are a few important factors we encourage you to consider:
Does your business rely heavily on foot traffic? If so, a retail space may be a better option for you. Office spaces are typically used for internal purposes like team meetings, but aren’t a great option for customers looking to buy your products or services on location.
How long do you plan to use the office space? Office spaces are a better option for tenants who plan to be there for a long time and are likely to renew their lease.
Is this the right type of space for your business? Office space is great for companies that need cubicles, offices, common areas, restrooms and more. However, if these amenities aren’t necessary for your company’s success, there may be a less expensive option for you.
If you’re considering renting office space, be sure to weigh all of your options to ensure a larger space is the best fit for your company’s needs and business goals.
Commercial Real Estate
Commercial real estate is property that is used for income-generating activities. Businesses who choose to rent commercial real estate often experience lower costs up front, reduced ongoing expenditures, and greater flexibility. Commercial real estate encompasses a few different types of spaces including office buildings, industrial property, medical centers, hotels, malls, apartment buildings, and warehouses.
At Knapp Properties, we are also builders who believe that commercial and residential real estate development is essential to any thriving community. We’re always looking for land to develop, and offer a partnership development structure that allows you to maintain ownership of your land. Learn more about the third party development partnership opportunities our real estate brokers can provide.
Residential Real Estate
Residential real estate is any building or unit zoned with the purpose of people living there. Residential property can include either new construction or resale homes. Single-family homes are the most common but there are other examples of residence-focused properties known as multifamily real estate which include apartments, condos, cooperatives, duplexes, and townhomes.
What are the steps in a real estate transaction?
When a seller offers their property for sale and a buyer agrees to purchase it, there’s a few things that need to happen prior to the closing and title transfer. At Knapp Properties, we understand this process can be overwhelming and will walk you through our steps so you know what to expect when working with our brokers. Our real estate transaction process includes touring properties, selecting a property and negotiating terms, setting a closing date, and moving in!
1. Tour Real Estate Listings Your Real Estate Broker Offers
We make it easy for you to tour our commercial and residential real estate listings in Central Iowa. Before you begin touring your options, it’s important to understand your motivations for investing in real estate. Our real estate brokers are here to help you assess your options and make the best decision for your company or family.
2. Select A Real Estate Property and Negotiate Terms
Once we find the right property for you or your company, a real estate purchase offer or contract will be put together. The contract outlines how much you want to pay for the property, the terms and conditions of the purchase, and legal requirements. You will work with your real estate broker to determine a reasonable offer based on your own desires and the trusted agent’s advice and knowledge of the area.
Land sale amendments – a document that makes a change to a ratified contract – are a part of the real estate contract negotiation process for land and lot sales. To determine the right offer, reach out to our real estate transaction management team.
What is transaction management in real estate?
A transaction management company can be very advantageous for you and your business. We will walk you through and help with the financing and transaction process of your investment so that you can focus on your business while saving time and money.
At Knapp Properties, our residential, commercial and facilities real estate transaction management services team is experienced and there to support you. We listen to your goals and work together to come up with a plan to achieve them.
3. Set A Closing Date
When you set a closing date and finish any agreed upon repairs or improvements to the property, you’re one step away from moving in. We encourage sellers and buyers to settle on a closing date that is convenient for everyone involved.
Choosing the right closing date can reduce your closing costs and ensure the rest of the closing process goes as smoothly as possible. Choosing the wrong closing date can cause costly delays, and in some extreme cases, cause the whole deal to fall apart. Your real estate broker will help you determine a beneficial closing date that takes you, the seller, and your mortgage lender into account so that all parties can stay coordinated.
4. Move in
You’ve signed your closing papers and should be proud you’ve made it to this point of the transaction process. Though it seems like a lot of work and a long time coming, taking the time and effort to make sure everything is right is important. Now, you’re ready to move into your new property!
Our brokers at Knapp Properties will help you every step of the way. It’s our goal to make this process go as smoothly as possible while meeting your personal needs and goals. We utilize our experience and knowledge of the area to come up with a feasible plan for you while eliminating the potential for any problems you could face in the long run.