No matter if you’ve been trying to sell your property for ages or you’ve just ended up with one you don’t really need, learning how to sell a commercial property is a great idea. But as you probably know, learning more about a process like this comes with a set of unique challenges. Still, with enough effort and time, breaking into the market and getting the job done shouldn’t be too difficult. And in order to make things easier for you, we’ve made a list of 5 things you should keep in mind when selling a commercial property.
Long lease period deals are a huge plus
The best time for selling your commercial property is right after the lease has been renewed. Why? Well, a commercial property with a short or expiring lease period isn’t guaranteed to make money for the buyer. On the other hand, if you have just managed to negotiate a long lease period, the buyer can be assured they’ll be earning money for a long period of time. Ideally, you should manage to negotiate a 10-year or even longer lease period.
Your commercial property has to be profitable
It’s also important to mention that the lease has to be profitable in order for potential buyers to become interested in investing in it. And that’s another reason why you have to be very careful about the lease deals you negotiate. The best way to do this is to take a closer look at the market before you put yours up for sale. Once you know all the price ranges you should be able to come up with an ideal deal you can get for your commercial property.
You’ll have to do some repairing
If you want to sell your property, you’ll also have to do a bit of repairing. This is the case because nobody wants to invest money in a property that requires too much repairing. By doing this yourself, you’ll actually be making your property more valuable and easier to sell. Therefore, grab your toolbox and try to make any repairs you can. And if there are any repairs you simply don’t know how to make, contacting professionals is recommended.
First impression matters a lot
Today, you’ll hardly see a buyer who previously hasn’t took a couple of minutes to check out your online add. With so many people looking for properties online, you’ll want to upload only the best photos and attach them to your add. What’s so important about these photos is that they’ll help your proper make a good first impression with all the potential buyers, which is always a good thing. Getting a good camera or hiring professional photographs can be of much help.
Talk to the buyers
Once they come to check out the property you’re selling, the buyers will want to hear everything about it. You should take this chance to talk about how much you’ve invested in the property. Therefore, this may be a perfect time to say that you recently add a whole set of new appliances or that you’ve opted for commercial LED lighting which is going to help them reduce their energy consumption. No matter which topics you choose, just make sure you provide them with information that can help you make the sale.
Have all of these things in mind and selling your commercial property for the amount of money you wanted should be quite easy. Just make sure you give each offer a lot of thinking and try to identify the one that you’ll benefit from the most.
