Selling commercial property is a little different from selling residential property. The end goal is the same, but the tactics and strategies may differ. In the end, you want to sell the property for more than what you paid, and that doesn’t always happen overnight. But there is some good news. There are four effective ways to sell your commercial property. Keep reading to find out.
Hire a Pro
Don’t attempt to sell on your own. Commercial property is a whole different ball game, and it’s best to recruit someone with a few wins. Work with a professional real estate broker who specializes in commercial property.
They will have tips and tools for you to use. The pros know the market, and more importantly, they know how to get the best deal. Working with an agent is a good idea too. They’ll know how to make your property look more appealing and whom to reach out to.
Show All Sides
Before purchasing a commercial property, buyers want a rundown of the place. No one wants to purchase land if they have no idea what they’re getting themselves into. You’ll need to show all sides of the property. Pictures should include the interior and exterior.
Always go for the best lighting. Before taking any pictures, get some maintenance done on the building. It will need some sprucing up so it can really sell. Clean the exterior thoroughly because that’s what everyone sees first. Know the difference between power washing and pressure washing before you take action. One could damage the exterior of your building.
Now is not the time to be shy. You want everyone to know you’re selling your commercial property. Therefore, it needs to be on every platform. Aside from having the sign posted outside of the building, post the information online.
Create a marketing flyer for a digital and physical copy. The flyer should include:
- The address
- A description of the property
- Contact information
You can even discuss the neighborhood to give the buyers more information to work with. Real estate goes fast, and the more descriptive you are, the better the chances you’ll get someone’s attention.
Remember Your Connections
While you owned the property, you probably made a lot of business connections. Aside from other markets, you need to consider your network. There could be someone within that circle looking to purchase property. Or they could connect you with a potential buyer.
Share the information with your network via LinkedIn, Facebook, Twitter, and Instagram. Remember, the world is online, and when you’re selling property, you want to go where the world is.
Get ready to place that “sold” sign on the doors after following these effective tips for selling your commercial property.