November 11, 2021

Everything You Need to Know About Selling a Commercial Building

Before you list your commercial building for sale and begin to accept offers, you need to make some preparations. The process of selling a commercial building is a bit different than selling residential real estate. Because of this, it’s important to understand how the process works and what you can do to successfully sell your commercial real estate property as effectively and efficiently as possible.
 

Study the Local Commercial Real Estate Market

 
Before putting your commercial real estate building on the market, you will want to do some market research. You should look at other commercial real estate buildings for sale in the area and compare them to your property. An important thing to consider and compare is the price of other commercial buildings on the market.
 
In addition to looking at the price of other commercial buildings, you should consider their size, unique or special features, and occupancy rates within the community. You also should look at how long they have been on the market. All of these factors can help you determine the best price for your commercial real estate building and can help you set realistic expectations for the journey ahead.
 

Discover What Sets Your Property Apart From Other Commercial Buildings

 
Now that you have a better idea of a marketable, competitive, and profitable sales price, you will want to identify what makes your property special. Focus on showcasing what makes your building stand out from the competitors to appeal to the most motivated commercial real estate investors in the market.
 

Promote Your Commercial Real Estate

 
Once you know what makes your commercial building different from the rest of the properties on the market, you can begin promoting your property. You should use a variety of marketing methods to promote your commercial real estate. These include:
 

• Traditional promotional materials — You will want to invest in signage, flyers, postcards, and other forms of traditional marketing. Distribute these promotional materials throughout the community to raise awareness about your property.
• Online marketing campaigns — You will want to create an innovative marketing campaign targeted to a specific audience who would be most motivated to purchase your commercial real estate property. This includes advertising on social networks, search engines, and more.

 
Partner with an Experienced Commercial Real Estate Agent
 
Rather than attempting to sell your commercial property on your own, you definitely want to partner with a real estate firm specializing in commercial transactions. A commercial real estate agent will have expert insight into the local market. They will also have access to a professional network of buyer occupants and investors who are always hunting for new commercial property. Partnering with the right commercial real estate agent can ensure that your property sells as quickly as possible and reaches those prospects who will value your commercial property above all others.
 
Working with a leading expert means you will enjoy the highest return on your investment. When you initially purchased your commercial real estate property, you were counting on the fact that the value would appreciate to sell it for a higher price and profit in the future. You can maximize your investment and sell it for the highest possible price by partnering with a commercial real estate group like Rakow Realty.
 
Contact our team today for more information about how our team of commercial real estate experts can help you sell your property for the optimal return on investment.