Selling a commercial property takes time, effort and finesse. Whether you’re choosing to sell your property by yourself or using a real estate broker to find investors, you can use different strategies to find serious, qualified buyers for your commercial property.
Selling a commercial property requires effective marketing and a way to identify potential buyers. We’ll explain how to market and sell your commercial property and why working with a real estate broker can benefit your selling process.
8 Tips to Market and Sell Your Commercial Property
Marketing your property and learning how to advertise space for rent can help you find serious buyers for your commercial buyers. Consider the following tips to help you market and sell your property:
1. Work With a Commercial Real Estate Broker
As a commercial property owner, you can benefit from the expertise of a commercial real estate broker. These professionals have the experience to handle the complexity of commercial real estate transactions, including the paperwork, time frame and other intricacies. A qualified real estate broker can provide you with a list of potential buyers, allowing you to find an interested buyer sooner so you can sell quickly.
2. Take Photos
One of the best ways to market your commercial property so it sells quickly is to take interior and exterior photos. Taking high-quality images can be the difference between someone skipping over your property listing and someone becoming a serious potential buyer.
While the latest smartphones can take good photos, you don’t want to use them for your property. Instead, use a professional camera if you have one. If you don’t, you can always hire a professional real estate photographer to take skilled shots of your interior and exterior. If you can, consider taking 3D photos so potential buyers can take a virtual tour, helping market your property further.
3. Use Marketing Tools
After taking photos, start assembling marketing packets for your property. You can include flyers and business cards so potential buyers can better understand the property and know how to contact you. When you’re making your flyers, include:
- The address and property name
- The photos you took of the property
- A description of the property and the surrounding neighborhood
- Your contact information
You can also place custom signs outside your property to indicate it’s for sale. You never know who could drive or walk by, notice your sign and become an interested buyer.
4. Determine the Market Value of Your Property
Before you list your property, determine the fair market value to ensure you aren’t over- or underselling yourself, turning away buyers or losing out on a profit.
You can hire an expert to assess your property value, allowing you to list your property accurately. You can also compare your property to others in the area to better understand how you should list your property.
5. List Your Property Online
Now that you know how much you’ll list your property for, you can list it online. You can list your property on a commercial real estate broker’s website or another real estate website. Listing your property on a real estate broker’s website can increase the likelihood of finding serious buyers. Regardless of what website you list your property on, choose one you know will boost your visibility while giving you the best cost.
6. Get Your Paperwork Together
You’ll want to get your paperwork together at the start of your selling process. Not being prepared can potentially deter buyers and make it more challenging to seamlessly transition from each stage of the buying process.
Compile all of your paperwork, including permits, ownership papers and certifications your buyer may need before the sale finalizes. Organizing your paperwork shows your buyer you’re serious about the sale and makes it easier to find what you need at a moment’s notice.
7. Use Social Media
One of the best marketing tools you have available is social media. Different social media sites, like Facebook, Instagram and Twitter, are excellent places to advertise your listed property, attracting a range of buyers.
Post property pictures, details about the property and other relevant information. You can also use analytics tools to see how many people have viewed your posts. The direct message features on these social media sites also allow you to respond quickly to interested buyers. If you’re looking for inspiration, you can look at other commercial real estate pages to see what you should post.
8. Complete a Thorough Clean Out
To show your property, you should clean it out and declutter first. You want your buyer to be able to visualize what the property will look like in their possession, which can be challenging when there’s too much clutter in the way. Take some time to go through storage rooms, closets and other areas to remove any unnecessary items, allowing your buyers to view your property’s complete potential.
Benefits of Working With a Commercial Real Estate Broker
A real estate broker can simplify selling your commercial property, taking the stress off your shoulders. Working with a commercial real estate broker to sell your property has many benefits:
- Access a network of contacts: Commercial real estate brokers have access to a professional network of third parties, brokers and investors that could be interested in buying your property, reducing the time you have to spend finding a buyer.
- Increase the likelihood of a favorable return: A broker can help you find the right listing price for your property, reducing your research time and helping you potentially see a profitable return. A commercial real estate broker uses current trends and analysis to determine your property’s fair yet realistic asking price.
- Improve communication and negotiation: A real estate broker can become your main point of contact with your buyers, saving you time and effort. They can handle tour requests, offers and open houses. A broker can suggest renovations and any changes you should complete to make your property more attractive to potential buyers. A broker can also handle the negotiations until closing, ensuring you get the best possible price for your property.
- Access various listing platforms: When you work with a real estate broker, you can market your property without needing public marketing. As a result, you can list your property on multiple platforms to increase visibility and your buyers’ market.
Connect With a Broker From Zommick McMahon Commercial Real Estate Today
Zommick McMahon Commercial Real Estate knows how to help our clients sell, lease or rent their commercial property, and we can help you. We create outside-of-the-box solutions to help our clients find buyers.
As an experienced brokerage firm, we can help you list your property and attract potential buyers to reduce stress and help improve your return. Our connections and knowledge can help you close a deal that’s most favorable to you. Contact us today to find representation for your commercial property.