Selling a commercial green building entails successfully relaying its benefits to potential buyers. In most cases, green buildings are pricier than their counterparts, so it’s crucial to emphasize why green buildings provide more “bang for your buck” and offer long-term sustainability.
Green building construction has been fast on the rise for several years now, with the global green building sector continuing to double every three years. In the United States specifically, the green building sector is outpacing overall construction growth in the country, with green construction expecting to contribute to 1.1 million jobs and $75.6 billion in wages by 2018.
With the health of the green building sector being what it is, now is an ideal time to convey to sellers that investing in a commercial green building is a wise choice. Some tips to help accomplish a commercial green building sale include:
Tell a Story
It will bore potential buyers to no end if you opt to simply list facts and figures about green sustainability. Instead, identify bottom-line facts that sell your point, like how green buildings save a considerable amount of money each year on electricity and other natural resources. Then, implement those facts into a compelling and relevant story, like how you or a friend experienced massive savings when going green.
Knowing your audience makes it easier to tell an effective story when selling a green building, as you can appeal to their wants and needs. Zero in on their passions if possible. For example, if you know that a prospective buyer likes to cook, talk in detail about the efficiency and cost-saving perks of a kitchen in a green-friendly building.
Conversely, if the prospective buyer is big into technology, mention potential savings in regard to server costs and storage.
Listen and Avoid Interjecting
This is a major decision for the prospective buyers, so it's recommended that you avoid interrupting them in any capacity. Instead, focus on listening, particularly to any doubts they may have. If you can alleviate doubts, chances are good they’ll find it easier to focus on the positives, which will speak for themselves.
There are various angles to approach the benefits of green sustainability, so tailor them to each person and acknowledge both their needs and their objections.
Talk About Competitors
Mentioning how a particular competitor is adapting green-friendly initiatives and seeing success and positive PR from it can be a great kick-start to persuading a buyer to purchase a green commercial building. Search the web for details about your clients' business competitors, noting when they invest in public green initiatives. Knowing their competitors are potentially one step ahead can light a fire underneath prospective buyers.
With competition in mind, it's also worth relaying some figures that show it's not exactly crazy to invest more in a certified green building than in an ordinary one. One figure of note is how many businesses are willing to pay up to 20 percent more for office space in a certified green building. They do so because of green's number of benefits, which you can convey secondarily to this point.
Stay Up-to-Date on Zoning Laws
One noteworthy distinction between residential and commercial real estate is the latter’s tendency for complex zoning situations. There's quite a bit of nuance when it comes to commercial use and zoning. As a result, it's highly recommended to speak with your local zoning officer about specific properties you represent and any potential changes.
Being on top of a specific building’s zoning specifications can help assure potential buyers that they're buying what they see and will not have to endure costly space changes. Being aware of zoning specifications and other quirks regarding buildings you're trying to sell is highly valuable, especially for green buildings that can be contingent on certain space for efficiency.
Interweave Symbols of Trust
Many green building purchasers are doing so for the first time. As a result, it’s best to help calm their nerves and suspicion with a sense of familiarity. One example is mentioning the generally universally recognized Energy Star, noting how their own research found that LEED buildings are in the top 11th percentile for energy performance in the United States. Any business owner accustomed to paying a substantial amount for energy each quarter will find this highly appealing.
Selling a commercial green building requires patience and strategy — one that involves interweaving narrative-based facts with personalization regarding competition, but the tips above can aid significantly in closing the deal.