If you have commercial property to sell, you might be wondering about the best way to go about it. According to the experts at DeRidder EXIT Real Estate Consultants, selling this type of building is different to selling a residential property. For starters, there will not be nearly as many buyers looking for the sort of building that you are selling as there would be with home. And you may not even know where to start looking for those that are. Below is a bit more information about how to find a buyer and the entire process of selling commercial properties.
Where to Look for Buyers
When looking for a buyer, it is important to consider who your potential buyers might be. For example, it may be a business owner looking to purchase a premises, or an investor seeking to expand their current portfolio. You might also come across a first-time investor who wants to start their own portfolio.
The best way to find a buyer for your property is to get in touch with an experienced real estate agent. Finding one who specializes in commercial sales means you will have instant access to a pool of potential buyers. If the agent doesn’t already have a buyer in mind, they will be able to get in contact with colleagues to see if anyone else has a potential buyer for the property. Furthermore, the agent will know where to list your commercial property in order to attract those who might be interested.
Getting Ready to Sell
There is a lot to think about when it comes to selling commercial property. You need to create marketing information about your property so that potential buyers will know what they are getting. Your real estate agent will usually take care of this side of things by taking photographs of both the interior and exterior of the building. To improve the chances of finding a buyer quickly, your agent might suggest taking aerial drone footage or creating a 3D virtual tour of the property. This gives potential buyers the opportunity to have a good look around the building remotely. A good marketing flyer will also improve the chances of a quick sale.
What to Consider
It is important to think about what you want from the sale of the property. If you are determined to get a specific price for the property you may need to sell to a business, which could mean that you are waiting longer to find the right buyer.
If a quick sale is the ultimate goal, then selling to an investor may be the best option. However, selling to an investor often means selling for a slightly lower price than you had intended. This is because investors are often cash buyers, and this gives them the upper hand when it comes to the negotiating.
Whoever you plan to sell to, it makes sense to have a full appraisal of the property carried out. This will give you a proper indication of the market value of the property and means that you will not run the risk of selling it at a loss. Remember, real estate agents can give you an estimate of what your property might sell for, but they cannot give you a definite market value.
When selling commercial property, it is always best to consult with an agent who has experience in selling commercial real estate. An agent will help you to find potential buyers and will provide advice throughout the process. They will market your property to attract buyers, ensuring you get the best price.