Gas station sales are complicated transactions with many moving pieces, from supply contracts to environmental issues to financing. Whether you are the buyer or seller, relying on an inexperienced broker can be costly. Worse, the price you pay probably won't be obvious until well down the road when an issue or problem arises that should have been caught long before closing. You will minimize those risks when we represent your interests.
From our extensive experience, we have found that the number of brokers in the Pacific Northwest who are both ethical and competent to broker gas stations is extremely limited. We have seen brokers market stations for sale when they do not have a listing agreement in place. We have seen brokers who, desperate to have listings, consistently list stations for sale at more than twice their market value. Those stations never get sold and instead suffer value diminution from what we call "market rot".
We have seen brokers incapable of producing the most basic of financial information about a gas station and, even worse, produce income statements that are blatantly fabricated. We have seen brokers who refuse to work with buyer brokers because they are greedy and do not want to split their commission, which is a direct violation of the broker's duty to be loyal to their client (see the Oregon Real Estate Agency Disclosure Pamphlet). We have seen brokers who can not even be bothered to be present when a seller and buyer meet to negotiate a potential transaction. In short, the odds are very high that the brokers you encounter who happen to have a listing of a gas station are not going to be professional, competent, or conduct themselves in a manner that is consistent with their legal obligations.
Selling your gas station is bittersweet. You've invested much time and energy into the business and look forward to reaping the highest reward for your efforts. But unless a broker experienced with gas stations is handling your transaction, the odds are great that it will become an exercise in great frustration.
Pricing your station properly and aggressively marketing it to the right market segment is key to getting under contract quickly. If the inexperienced broker lists it too high, the market will respond with a collective yawn and your property will suffer from market rot in short order. If the inexperienced broker lists it too low, you will have left significant money on the table and not been justly rewarded for your hard work.
Because of their complex nature, gas station transactions always have unforeseen hurdles. Having an experienced broker like Petroleum Realty Advisors ensures that those hurdles will be negotiated quickly and skillfully. We are creative problem solvers and gas station deals are known for being difficult. If you are thinking of listing your gas station, call us today.
Don't waste your time chasing down listings of over-priced properties that are never going to sell. Don't waste your time working with brokers who don't know the first thing about gas stations but just happened to take a listing. Finally, don't trust that the broker who started the deal off by representing the seller is going to protect your interests. In most cases, the cost of buyer representation is already built into the listing of a station that is marketed by another broker. It costs you nothing to have Petroleum Realty Advisors' expert representation.
When you have questions, we will get you the answers you need to make informed investment decisions. If we haven't already done the research on an active listing, we can get the information and develop the guidance you need in short order. We will always tell you what reality is, whether it is what you want to hear or not. Always talk to us first. We will match your needs against the market inventory and soundly represent your interests to get the deal done. Contact us today so we can get you into the station you want at the price you need.