If you are retiring, have outgrown your current location, or just want to get out of a particular business investment, you have a lot to consider before putting a for sale sign on your building. In order to sell, your property has be desirable to potential buyers. It has to be priced and marketed right. You need a Broker who knows what commercial real estate Central Minnesota investors are looking for.
Location is important. If you have a building that is centrally located and has easy access, you will have a much better chance of selling it. Parking access is another important consideration for buyers. If you have an industrial type property, like a warehouse, and it is located in an area specifically designed to accommodate large trucks, with plenty of room to load and unload, the chances of selling are greater.
You should not underestimate the importance of presentation. When you get ready to sell, you need to take a hard look at how your building will be seen by others. Appearance isn't everything with commercial property, but your building should at least look presentable. Removing trash, washing windows, and installing shrubs in front of entrances won't break the bank. You will be surprised by the difference these changes will make.
Nothing you do will matter however, unless you have the property priced right. It's important to know what comparable properties have been selling for. You have to put together a comprehensive buyer package that includes all the pertinent documentation, like taxes, rent rolls, tenant histories, and a layout of the building.
Advertising is expensive. You don't want to waste your marketing dollars on anything that isn't specifically targeting your most probable buyers. Everything from the ad placement to the photography has to be geared toward engaging your target market. You need to give the reader the right amount of information. It should be just enough to compel the prospective buyers to call for more.
An aggressive and experienced CRE Broker is essential if you want to move your property. Unless you are a CRE Broker, you need to give this job to the people who are in the business of selling commercial property. It can get complicated. You need a professional who is familiar with market trends and can reach a global audience, if necessary.
You want to hire a skilled negotiator. Once the marketing efforts have generated interest, the next step is to lead a buyer to the negotiating table. You will have to work with the Broker on the best strategies to get the buyer to make an offer, and eventually close on the property.
Selling commercial property is nothing like selling a house. It's very difficult to do without the services of an experienced Broker who understands the market and who the most likely buyers will be. A successful sale will require you to set a competitive price and maximize the curb appeal.
Location is important. If you have a building that is centrally located and has easy access, you will have a much better chance of selling it. Parking access is another important consideration for buyers. If you have an industrial type property, like a warehouse, and it is located in an area specifically designed to accommodate large trucks, with plenty of room to load and unload, the chances of selling are greater.
You should not underestimate the importance of presentation. When you get ready to sell, you need to take a hard look at how your building will be seen by others. Appearance isn't everything with commercial property, but your building should at least look presentable. Removing trash, washing windows, and installing shrubs in front of entrances won't break the bank. You will be surprised by the difference these changes will make.
Nothing you do will matter however, unless you have the property priced right. It's important to know what comparable properties have been selling for. You have to put together a comprehensive buyer package that includes all the pertinent documentation, like taxes, rent rolls, tenant histories, and a layout of the building.
Advertising is expensive. You don't want to waste your marketing dollars on anything that isn't specifically targeting your most probable buyers. Everything from the ad placement to the photography has to be geared toward engaging your target market. You need to give the reader the right amount of information. It should be just enough to compel the prospective buyers to call for more.
An aggressive and experienced CRE Broker is essential if you want to move your property. Unless you are a CRE Broker, you need to give this job to the people who are in the business of selling commercial property. It can get complicated. You need a professional who is familiar with market trends and can reach a global audience, if necessary.
You want to hire a skilled negotiator. Once the marketing efforts have generated interest, the next step is to lead a buyer to the negotiating table. You will have to work with the Broker on the best strategies to get the buyer to make an offer, and eventually close on the property.
Selling commercial property is nothing like selling a house. It's very difficult to do without the services of an experienced Broker who understands the market and who the most likely buyers will be. A successful sale will require you to set a competitive price and maximize the curb appeal.
About the Author:
Get an overview of important factors to keep in mind when choosing a commercial real estate Central Minnesota agent and more information about a knowledgeable Realtor at http://www.east-westrealty.com now.
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