Think of selling commercial real estate as an adventure. You’ve made your investment, you’ve nurtured it, and now it’s time to reap the profits. But what if your property is located in a less-than-ideal area? Fear not. Here are some tips to making your property marketable in even the most marbled community, from considering reading a real estate photography guide, to looking into the market around you.
Invest in making your property class A quality.
Make any needed repairs. Freshen up the paint. Invest in the landscaping and the parking area. Upgrade as many things as you can afford including:
- Bathroom fixtures
- HVAC
- Appliances (if applicable)
- Lighting
- Windows and doors
Do everything you can to make your property top-notch, no matter where it’s located. Make sure you carry out all of these upgrades before getting a property valuation. Home upgrades can drastically increase the value of a home so bear this in mind.
Market your property.
Don’t just list your commercial property: market it. Hire a top-notch commercial realtor to market your space to its ideal buyer. Getting someone like Boxbrownie (or someone similar) to do some great photograph editing, high-quality video walkthroughs, and artful language in the listing can make any property shine.
Selling commercial real estate is part art, part science.
Art:
- Beautiful marketing photos from a Cairns photographer
- Careful design indoors and out that looks clean
- Exceptionally written listings and advertising that promotes the property
Science:
- Knowing the market inside and out
- Timing your sale
- Pricing with precision
The art of selling commercial real estate, even in the most challenging areas, can require the help of professionals. You’ll need an excellent commercial realtor for marketing and negotiating. But also consider hiring an interior designer/stager to really polish up the look and feel of your space. A landscape architect may be helpful in getting your outdoor space into selling shape.
The science of selling commercial real estate will definitely require expert help. Working with seasoned commercial real estate brokers will take the guess work out of knowing the market, timing your sale, and setting the ideal price.
Focus on the highlights of your area
Even the most challenging community to sell in has its own unique silver lining. Utilize these pros when marketing your property. Maybe it doesn’t get great foot traffic, but is easily accessible via shipping and freight lanes. Or perhaps the setting is rural, but has beautiful views and a quiet atmosphere. Really sell the high points while downplaying factors that may be less than ideal.
