How to Sell My Commercial Real Estate: A Beginner’s Guide

June 21, 2024 alex

Selling commercial real estate can seem like a complex or difficult task. As a result, many people put it off for as long as they can. However, it is much easier than it may appear as long as you know what to do.

No doubt, the process is intricate but with the right strategy you can maximize the returns. But to do so, you need to understand the market, so let’s start with that.

Table of Contents

The Market

Before you go on and list your property, you should first understand the current real estate market. This analyzes trends, property values, and even the demand in your area. Keep in mind that economic aspects do influence potential buyers.

First, research similar or comparable properties. This way, you can gauge the fair market price.
Secondly, evaluate the market conditions at the moment. Evaluate if it’s a buyer’s or seller’s market. In a seller’s market, you’ll have more leverage with which you can negotiate a higher price.
In addition to the above, make sure you consult real estate experts. More importantly, ensure their niche is in selling commercial real estate. Moreover, get an appraiser to get expert insights and valuation of the property.

Sell My Commercial Real Estate: Preparation

The first step in selling your commercial real estate is to prepare it for sale. The better you show your property, the more buyers you’ll be attracting which positively affects the selling price.

Property Assessment

Make sure you conduct a thorough property inspection. This will help you spot repairs and improvements so you can perform them.
When you fix these issues, you’ll find that buyers don’t have many points to negotiate the price.

Improve the Curb Appeal

Undoubtedly, first impressions matter and are important. So make the exterior of your property as attractive as it can be.
Focus on landscaping. Work on maintaining the lawn, trimming trees, and the addition of decorative plants.
Besides this, get a professional to perform exterior cleaning as well. They’ll pressure wash the building and clean the windows. Repaint the exterior if you find it necessary.
Finally, make sure all the signage is visible and in good condition.

Interior Improvements

Keep an eye out for any areas that need renovations. Remove any old fixtures and update them. Remember that a modern property offers higher value.
Moreover, focus on the staging as well. Staging remains the backbone of real estate even today. In this, you work on arranging the furniture and decor to highlight the property’s potential use. It is also ideal for helping buyers visualize how they can best use the space.
Finally, don’t forget the clean the insides of the property. Hire professional cleaners to make the property as clean as a whistle.

Set the Right Price

Pricing your property can affect how many potential buyers you can attract. Overpricing will keep buyers at bay while underpricing will be a loss to you.

Property Valuation

This is where an appraiser comes into play. Get a professional appraiser to value the property and determine the market value.
They’ll assess the property’s size, location, and condition. Moreover, they’ll look into its potential for revenue.
If you’re unsure how to go about this, get professional help such as Sell My Commercial Real Estate.

Pricing

Research the current market. Set a price that is close to similar properties. Make sure you look at properties in the area for the best result.
Moreover, keep your pricing flexible. Adjust the price according to the market feedback and be ready to negotiate.
Lastly, make sure you add an incentive into the mix such as a flexible payment term, or covering the closing costs. This is sure to attract buyers.

Marketing Your Property

Marketing is an important part of selling commercial properties. How else are you going to reach buyers looking for commercial real estate?

Thanks to the digital age, you can easily market them with the help of professionals.

List your property on real estate websites and marketplaces. Use the help of a professional to make the perfect real estate listing.
Make use of social media and popular

Conclusion

social media pages to reach a wider audience. You’ll find there are many platforms and pages dedicated to commercial real estate.
Moreover, you can create a dedicated website or landing pages for the property. Don’t forget to include accurate information and details with high-quality images.
Try email campaigns and send targeted emails to potential buyers and investors.

Offline Marketing

Make sure to print advertisements in newspapers, magazines, and brochures.
Look for networking opportunities. For instance, you can join industry events to connect with real estate professionals. Moreover, you’re sure to meet potential buyers during such events.
Besides this, don’t forget the classic signage on the property. Be sure to place prominent for-sale signs on the property. This will attract local interest.

Selling commercial real estate is all about planning and strategy. With the right steps, it won’t even be as complex as it might feel. Make sure you understand the market, prepare the property, and set the right price. Get a professional on your side to handle the areas that are beyond your expertise.

Work with Sell My Commercial Real Estate to prepare and get your property on the market.

FAQs

Is it difficult to sell a commercial property?

It is not necessarily difficult to sell a commercial real estate compared to a residential one. But it can be complicated to understand the market.

Can a real estate agent help sell commercial real estate?

Yes, however, you’ll want to work with a professional focusing on the niche of commercial properties.

Is marketing important for selling commercial property?

Yes, high-quality marketing will make your offer far and wide-reaching.