Selling commercial property is an exciting business opportunity, especially if this is a project you built or developed specifically for sale. However, as you probably guessed, it is riddled with far more risks and difficulties than residential sales. This is because the stakes are higher as the value of the property is usually higher. As a result, you’ll have to do more than put up your commercial real estate for sale sign to attract the kind of offers you want. Here are some tips to help you get started.
There’s an app for almost everything these days and commercial real estate is no exception. If you’re new to selling commercial real estate, then consider listening to podcasts that could provide you with the information you need to get started. You can also use apps to browse listings and get a feel for how other real estate agents are wording their listings and the prices for properties similar to the one you have for sale. You can also use some of the apps to advertise your commercial property, not just on websites designated for this service, but also on Facebook, Instagram, and Twitter.
Connect with Real Estate Agents
Whether you’re a property owner, a real estate agent, or both, connecting with commercial real estate agents is an important aspect of the selling process. Find out what properties like your own are going for these days. Are there any clients they have who might be interested in what you have to offer? What about staging? What’s new in the office interior design world? Is it better to leave the space blank? What are the perks that tend to get a buyer’s attention these days?
Plan for a Quick Sale but a Slow Start
The faster you sell that property, the better it is for you, but only if the price is right. If you know your price is competitive, then prepare for a slow start just in case. Prep your finances, so that you can wait out the market for as long as possible, if necessary. Remember that selling commercial property typically takes a lot longer than selling residential properties.
Prepare the Necessary Information
Don’t wait until a potential buyer asks for information to have it at the ready. Some opportunities only knock once and then disappear to knock somewhere else. Try to anticipate all the information a seller may want. Set this aside, so that you can present it via email or in a professional binder for potential buyers to take a look. Again, this is where podcasts and relationships with agents would come in handy.
When it comes to business, especially when you work for yourself, time is money. Because of this, it often makes a lot more sense to pay someone else to handle the prepping and selling process than to handle this yourself. In the interim, you can look over other projects you want to buy, fix up another site, or work on aspects of your business that would otherwise fall by the wayside.
Professionals who specialize in commercial real estate would also already have all the tools they need to make the sale as quick and easy as absolutely possible. Do you have Colorado commercial real estate for sale? Are you looking for experienced brokers to make the process as quick and easy as possible? Contact Unique Properties today.