Regardless of the state of the economy, buyers who are interested in purchasing commercial property are likely in a reasonably secure financial position. If they did not have the funds to invest in commercial property, they wouldn’t be attempting to do it. Commercial property differs from residential property because it is optional rather than essential. Everyone needs a place to live. A home is a necessity. A business investment, however, is an endeavor that is typically undertaken by individuals with sufficient funds to support their venture, which means, in a sense, that they have the upper hand. Therefore, when selling commercial real estate, it is crucial to make the process as simple as possible for interested parties and make sure that your property is competitive with other, comparable properties on the market. Help your property by taking a look at these simple home selling tips.
Advertise
The days of running an ad in the paper or planting a cardboard sign with contact information on it in front of an available property are long gone. Modern times call for modern methods of advertisement. To effectively ensure that your property is visible to a large audience, you will first need to determine who your target audience is and then streamline your advertising so that it reaches those individuals most likely to buy or be interested in buying. You will also need to advertise on more than one platform in order to make sure your property is viewed by the maximum number of potential buyers.
To effectively determine your target audience, take a look at what your commercial property could potentially be used for. Odds are, a building that might make a great café or outlet will not share many distinguishing characteristics with a building designed for production and manufacture or office work. In the same way that the buildings differ from one another, interested parties will differ. An entrepreneur seeking to open a café isn’t going to have a lot in common with someone involved in product manufacture and distribution. Find out what your commercial property can be used for and who is likely to purchase it for this use. Determine age, income level, and business associations related to the group most likely to be interested in your specific property and advertise to them specifically.
There are a variety of websites and alternate means of advertisement to help get your property into the eye of the public. Don’t settle for only one. Get the word out. Websites, realtors, and social media are all valid forms of bringing attention to your property, and you should avail yourself of them.
Get Help
It is no surprise that real estate agents are “in the know,” so to speak. Agents are professionals dedicated to facilitating sales and purchases of properties and they have dedicated a significant amount of time to learn the facts and tricks of the trade. Don’t try to do it on your own. Enlisting the assistance of a professional real estate agent is the best way to make sure your property sells fast and at a reasonable rate, and they are also one of the best ways to be certain your property is being seen by the right people. Real estate agents want your property to sell. If it doesn’t, they don’t get paid, so it is in their best interest to expedite the process and ensure a secure and profitable transaction.
Keep it Simple
No one wants to waste their time. Let’s face it, most people are busy and don’t have a ton of time to spare, so they aren’t going to be eager to dedicate too much of that precious free time to dig up information that should be readily available to them. It is imperative that your property is advertised in a manner that clearly and concisely provides all relevant information and requires little or no effort on the part of the buyer when it comes to getting the details. If an interested party has to expend too much time and effort trying to find out what they need to know, odds are, they will get frustrated and move on to a property that doesn’t require as much work. Keep it short, simple, and easy to process.
It is a good idea to do a quick survey of other, similar commercial properties currently on the market and familiarize yourself with language and sales tactics utilized by other sellers. You want your property to stand out, but you don’t want it to be a challenge for potential buyers to learn what they need to know about it.
It is vital to choose a real estate agent that has the experience required to navigate commercial property selling. You can depend on me, Michael Thue Realtor, for a smooth sales process. Contact me on 562.299.3583 or send an email to Michael(at)socaltophomes(dotted)com.