The best way to sell commercial real estate
Whether you’re looking to make cash on your real estate investment or you’re looking to expand your company’s workspace, maximizing the value of your unit is always this is an important goal. Take a look at our top tips on the best ways to sell commercial real estate. This will help you make the process as easy as possible, whatever the reason for the sale.
Understand who your potential buyers are
If you own a commercial building, be aware of what type of tenants can occupy the building. Therefore, it is essential to understand what the permits and licenses are required for potential occupants of your property. You also need to know who your potential is, whether you are an investor or an end user. Investors will want to know the number of tenants or otherwise the occupancy of your property, and the quality of the tenants. That is, were they generally small companies or start-ups, or were they tenants with good contract strength secured a longer lease term. Emphasizing either the quality or number of tenants will increase the value of the property and make it more attractive to potential investors. Investors will also want to see a cost sheet that includes costs such as maintenance costs, chiller fees, and other costs, and how this affects real estate yields.
Make sure your property is in good condition
Unit upgrades are welcomed by potential buyers, especially when it comes to improving the property’s environmental footprint. Environmentally friendly improvements can increase the value of your assets by reducing operating costs. This may be as easy as insulating the property and switching to an efficient light bulb. If you are looking to attract large companies, more of them will have corporate social responsibility and will only occupy energy-approved assets. That said, improvements can make your property more attractive and raise the price, but the cost is not always the same as the value, so what and how much to spend on improving the unit. Plan carefully. Small improvements such as fresh licking of paint, minor repair fixes, and professional cleaning, including carpets, all make your property more attractive to potential buyers and don’t cost a lot of money. However, first impressions are important before selling a commercial property it must be properly maintained both inside and outside the property.
Go with a trusted brokerage firm
Large and reputable commercial real estate companies have both a network of contacts and a dedicated marketing team, which gives real estate the right market exposure. This includes providing a unique real estate marketing flyer that highlights the unit’s unique selling points, such as posting on all appropriate portal websites, creating a “for sale” board for placement on the property, and location. It is included. Send to potential clients. A good brokerage firm usually has a photography team that specializes in real estate photography, so you can show off your unit in the best possible light. That said, the most important aspect of a trusted brokerage firm is that it has the expertise and industry knowledge to guide you at every stage.