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Selling Commercial Property: Best Tips for First Timers

By Colby Goetz
September 1, 2017
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The first time you decide on selling commercial property can be equal parts exciting and daunting. Where do you begin? Consider that the first month on the market is the most critical time, so you’ll need to invest time and perhaps money in preparing your property to be viewed by a prospective buyer. A property that doesn’t sell within the first month of being on the market has a much lower chance of sale at all, so get prepared and seize the coming days to your best advantage. Here’s how to get started:

Know your potential investors’ points of interest.

Many investors want a space with 100% occupancy. If you already have a great tenant mix established with minimal vacancies, your property will be all the more attractive. If your tenants have long-term contracts in place, even better. Create an accurate rent roll of detailed tenant information for potential investors. If you are struggling to sell your property in a timely manner, examine your tenant mix, and consider if you need to do some reorganizing.

Clean up your property and make repairs.

Invest in upgrading your landscaping – you might want to consider contacting those at https://www.lawncare.net/service-areas/michigan/ to see if they could come and enhance the lawns of the property. That immediately adds to the curb appeal of a property and that is important as one thing that potential investors will be looking for is curb appeal. Curb appeal is usually what gets an investor through the door, meaning the exterior is arguably one of the most important aspects. If the property has decking, consider using deck sanding services to freshen up the outside space; it is cheaper than replacing it and can make a whole world of difference to the overall look of the property. As well as that, fresh paint goes a long way and obviously it must be spotlessly clean. That means inside and out, so find a company who offers window cleaning services in Toronto or wherever you are based and clean out any gutters and things. It’s also important to make sure any necessary repairs are done. No investors want to do repairs themselves, so make sure to have the roof maintained and repaired if necessary. By getting in touch with this richmond hill roof repair company, commercial properties in that area could benefit from stronger roofs, ensuring the building is safe. Additionally, check windows and even the structure of the property.

Highlight the perks of your location.

Great tenants are drawn to great locations. Share detailed information about your neighborhood, the setting, and the other local businesses that neighbor you. Do you have high foot traffic? Access to great parking and public transportation? Do you have exceptional curb appeal? Highlight these features both for your investors and future tenants.

Selling commercial property is what you make it.

If you’ve done your research, made your improvements, and have marketed your property effectively, you’ll be in good shape. Use every tool in your toolbox, and don’t overlook utilizing technology and social media to your best marketing advantage. Offer investors your very best, and you’ll get a great return on your investment.

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