Hypothetically speaking, if you have a business siting on a prime location where the land is worth more than the business, how would you cash in on that? How do you reach out to developers?
[{"id": "cqcsby7", "text": "You would want to discuss getting a broker opinion of value from a commercial broker with connections to all the developers in the area. They can tell you what the comps are for similar development sites and can solicit offers from the developers should you chose to sell.", "replies": [{"id": "cqgny17", "text": "This. Further, certain brokers in your area will be better or worse depending on the deal/site size, and/or it's potential uses. E.g. A small commercial broker may be best for a 1 acre, $1M-$5M development site in the suburbs that will become a retail bank or pharmacy, while the major power players will get you top dollar for an urban in-fill site that will become high-rise condos, hotel, office etc.\n\nThere is a bit of game theory on how much a broker will tell you your property will sell for- too little and they don't get the assignment, too much and you'll be disappointed when it sells for less, and hurting their reputation potentially. It would be helpful to meet a few CRE professionals in your area who know reputations and strengths of various brokers before making a final decision.\n\nSome land/business owners are capable of selling themselves, but I believe the vast majority of the time, you'd make more money with a broker, even after their fees.", "replies": [], "depth": 2}], "depth": 1}, {"id": "cqd2bv2", "text": "Depends on your background.  I know some land/business owners who are completely capable on their own.  I know others who need help.  Like cbarrister said, I'd call a local broker or two and just have a conversation.  Conversations don't obligate you to any broker.  You're just doing market research.", "replies": [], "depth": 1}]