Selling and listing a Commercial Property for SaleSelling commercial property successfully requires good market and local property value knowledge. This coupled with a competent property agent, lawyer and good timing will help deliver your best result. Unlike residential real estate, commercial properties are often purchased by companies or syndicates, and are often intended for lease or to be rented out. These factors, along with a higher price tag makes selling Commercial Real Estate a more involved and often slower process.
Selling a Commercial Property could take anywhere from a couple of weeks to a 12 or more months. Whether it's a warehouse, showroom, retail space or offices, selling times are affected by market elements such as the economy, the type of building, it’s size, condition, your asking price and local demand when you list your commercial property for sale.
Start by defining what commercial property buyers want.After the type of property, buyers are interested in the location, price and size of the property for sale. They will be looking to compare your property to others in the same area, generally using the price per square meter as the benchmark. They will also be interested in whether it is leased or not. Keeping this in mind your commercial property listing needs to promote these details in a favorable light plus any additional benefits or features your property holds.
If you’re selling a retail property, the more specific you can be about the location the better. Postcodes and street addresses enable buyers to check out the location using Google maps. It can also be beneficial to detail the foot traffic or vehicle moves passing your property. When setting your price it pays to research the current commercial property market values in your area and seek a commercial property valuation from a property valuer or commercial real estate agent.
Selling commercial real estate requires knowledge, a plan and execution.
• Try and list
your property when the market is active and there is demand. Commercial
real estate prices fluctuate with the economy. If you sell your property during
a financial swell or high demand, you will realise a greater profit.
Here are 4 steps that will assist you in getting your best result:
• Take time to search out a reputable and competent commercial property agent if you’re enlisting the services of one. Don't be shy about asking questions. Find an agent that will market and represent your property and interests assertively and fairly.
• Make your building look as good as possible before putting it on the market. Aesthetic touches can make a surprising difference in real estate. Clean up the section, landscape and mow any lawns, paint tired areas and have the windows professionally cleaned. All of these touches will show that you care about your building and make it more likely to attract buyers.
• Advertise your property widely and get in front of your most likely buyers. Property newspapers and specialist Commercial Property for Sale websites are great mediums for potential buyers. If possible include quality pictures and relevant information such as the price per square meter, zoning, location and features. Ensure your ad copy makes the property appealing to potential buyers. Sell Your Property
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