We act for real estate vendors and purchasers, assisting them through the property disposition or acquisition process from conception, initialisation, fulfillment and, in the case of purchasers, asset management. We focus on industrial, commercial and investment property, together with land suitable for development. These properties encompass offices, hotels/motels, free standing retail and shopping centres, warehouses, manufacturing plants, apartments, mixed use projects, development and resource land, with a value of $0.5 million or more located in Nova Scotia, Prince Edward Island and New Brunswick.
We bring considerable real estate expertise and resources to bear: our Brokerage Division reinforces its own strengths: knowledge of the marketplace, marketing and negotiation, with the breadth and depth of our six Consulting Divisions: Valuation & Appraisal, Property Tax, Economic Intelligence, Planning, Lasercad® Space Measurement and Counselling. Since all of our staff are salaried professionals; the product of our common seven year training program, they speak the same language, and work as a team, building long term relationships with our real estate clients, some extending back over the forty plus years we have been in the property business.
Vendor Representation occurs when the property owner retains us to sell their real estate. In order to obtain the highest price, the most speedy sale and/or the most advantageous terms for the seller, it is necessary to (1) reduce the risk of the transaction to the buyer to the greatest degree possible by creating a Master Sales Prospectus which clearly and comprehensively details the fiscal, physical and legal attributes of the property, (2) price the property appropriately and, (3) expose the property to the broadest range of qualified, potential purchasers.
Our Brokerage Team is able to draw on the support available from our Consulting Divisions to create the Master Sales Prospectus. The MSP is designed to position and present the property in the most beneficial and audience appropriate manner to potential purchasers. Our Brokerage Division can call on the resources of our Valuation Division and our information technology platform CompuVal® to determine the property’s market value. CompuVal® is a leading edge IT platform which acquires and combines property sales, revenue, and expense data from multiple sources, and then processes and analyses it to give us a unique insight into the region’s marketplaces. CompuVal® is proprietary to Turner Drake. Our Brokerage Division has developed a structured marketing program to identify, acquire, and qualify active purchasers and to comprehensively expose the property to the deepest pool of potential purchasers. It combines our professional staff’s personal knowledge with CompuVal's® data acquisition and analytical capabilities. Our Brokerage Team are the product of our own seven year real estate training program which includes negotiation as a defined skill set.
We provide the following tools to expose the property to the widest audience of qualified, potential purchasers:
Company contacts - our various Divisions conduct assignments on a daily basis for clients throughout North America. We have built relationships with them, many of which extend back to 1976, the date of our incorporation. We have cemented these relationships through a quarterly Newsletter with a circulation of about 20,000.
Computerised databases - in addition to our Newsletter, our CompuVal® Knowledge Base tracks purchasers by property type e.g. automobile dealerships, fast food, offices, industrials, apartments, etc. for target marketing purposes.
Internet - we utilise multiple web sites. www.turnerdrake.ca, our dedicated property brokerage web site, is advertised on our On-Site Signage. www.turnerdrake.com, our corporate web site, is a resource centre for clients utilising our entire range of services. Both web sites are linked, as is www.turnerdrake.net, our dedicated property tax web site. Where appropriate we will also list the property on the Multiple Listing Service® via nsar.paragonrels.com, the Nova Scotia Association of Realtors internal web site used to distribute listing information to its members, and www.realtor.ca the Canadian Real Estate Association's MLS site.
Other Brokers - To further expand our marketing reach we establish a co broker network and have carefully structured our sales commission so that it is “broker neutral”; we get the same fee whether we sell the property with the aid of another broker or directly ourselves. Since we have no incentive to “double end” the commission our objective is directly aligned with that of the vendor … to get the property sold! We cheerfully and actively co-operate with the other real estate brokers. We are extremely pro-active and unless there are confidentiality constraints, actively co-broker at the outset of our marketing program.
Multiple Listing Service® - we are one of the few commercial brokers who belong to the Nova Scotia Association of Realtors. It has been our experience that MLS® is an effective way of achieving maximum market exposure for properties worth less than $2.0 million, particularly since the listings are now rebroadcast on other brokerage web sites such as ViewPoint Realty Services Inc.
On Site Signage – we provide and install “For Sale” signage on the property at our cost.
Purchaser Representation occurs when the buyer retains us to act on their behalf to locate suitable properties, advise on their market value and where appropriate, leasing potential, and negotiate the acquisition on the most advantageous terms for the purchaser. Since we act as the purchaser’s agent we are legally and morally obligated to act in the best interest of the purchaser: however our broker’s fee is usually recovered from the vendor.
Purchaser representation is particularly pertinent for industrial, commercial, investment (I.C.I.) real estate because this type of property is often not listed for sale on co-operative listing systems such as the MLS® operated by the various real estate boards. Indeed many commercial brokers do not belong to these boards. It is either listed with commercial real estate brokers such as ourselves… or frequently not listed for sale at all, even when the owner is prepared to sell! The challenge facing a potential purchaser is primarily one of identifying suitable properties that are available for acquisition, establishing their market value, determining if they are available at that price, and then negotiating the purchase on the most advantageous terms to the purchaser… with a vendor who may be under no compulsion to sell! In these circumstances the broker is actively working on the purchaser’s behalf and Purchaser Representation is the most logical route to follow since it aligns the broker's interest with that of the purchaser.
Our Purchaser Representation Agreement details our obligations to our client the purchaser, in a concise and unambiguous manner. We consult with our client, identify their purchase criteria and advise them whether and where suitable properties are available that meet their budget. We then locate suitable properties, including those listed with other real estate brokers. We determine which properties are available for purchase, gauge the owners’ interest in selling, prepare and submit Offers to Purchase (usually utilising our own documentation), and then negotiate the most advantageous terms for the purchaser. Price may not always be the determinate factor in a sell decision: tax liability, financing, timing, intended use, staff retention and other factors also play a role.
Our Brokerage Division is able to draw on the support available from our Valuation, Planning, Economic Intelligence, Lasercad® space measurement, Property Tax and Counselling Divisions as required. They can also call on the resources of our information technology platform CompuVal® for property sales information, revenue, and expense data for comparative purposes. CompuVal® is a leading edge IT platform which acquires and combines property specific data from multiple sources, and then processes and analyses it to give us a unique insight into the region’s marketplaces. CompuVal® also includes information on every property ownership in the Maritime Provinces and is built on our geographic information system (GIS) so it can render property specific information graphically, using satellite and three dimensional aerial photography with a resolution of 15 cm in many urban areas. CompuVal® is proprietary to Turner Drake. Our Brokerage staff are the product of our own seven year real estate training program which includes negotiation as a defined skill set. They draw on that expertise to negotiate the most advantageous terms for the purchaser.
Properties For Purchase
We currently have the following properties listed for sale here or if you wish, you can visit our dedicated property web site and view the same properties listed for sale there. They, and property listed on other commercial brokers’ web sites, represent only a small sample of the property pool available for purchase, much of which is not actively listed for sale at all or is listed with commercial brokers who may not have publically exposed it on their web sites for confidentiality or other reasons. Contact our Brokerage Team for the bigger picture.