Selling commercial real estate is somewhat different today than in the past.
While the process is the same as it always was in terms of property preparation and showings, commercial realtors have stepped into the digital age to handle much of their marketing.
Using these great tips, anyone with commercial property for sale can combine traditional and modern techniques to get properties listed, advertised, and sold as quickly and easily as possible.
In this 1st part of a 2-part series, learn about the traditional real estate sales methods that still apply today and make up the basis of every realty transaction.
Part 2 discusses how to then take advantage of the digital platform that now runs the world.
Preparing and Presenting Commercial Property for Sale
The first step when selling commercial real estate is preparing the property so it looks great and presents well.
Visual appeal is essential, whether the property is a multi-family housing unit or a large office building.
Repairs should be made, the building should be cleaned, and whatever other necessary improvements that are in the sales budget should be made.
A building with great curb appeal is more likely to sell itself when added to business property listings than one that has been neglected and obviously needs work.
Make the best presentation by taking care of preparation first.
Listing A Commercial Property for Sale
Once the property has been prepped and is ready for presentation to potential buyers, commercial realtors can list it for sale on the multiple property listing and elsewhere.
An important part of the listing process is determining the best listing price.
Doing so requires extensive research of other similar properties in the area and taking into consideration factors like property size and location, condition, intended use and zoning, amenities, local market values, and other details.
This information is also important in deciding what types of traditional print advertising to do and where as well as which online listings to use to list the property.
Networking - Get the Ball Rolling
Successful realtors who deal with commercial property for sale know the value of having a network.
Through networking, realtors can extend the message of their listing further than it might go just relying on what people might see on their own.
Brokers must spread the word of their listing to colleagues, previous clients, local professional groups and businesses, appropriate publications, and anyone else who might be interested.
They should also include some they know who is interested or can further increase exposure to the right parties. Technically speaking, networking can even begin while still in the preparation phase.
With these basic yet essential steps at the foundation of any sales campaign, commercial realtors can start marketing business properties using tried and true traditional methods.
To enhance these techniques and take advantage of everything the internet has to offer for anyone looking to sell commercial real estate, be sure to read Part 2 of this series on best methods for selling commercial property for sale!