Commercial properties include apartment buildings, convenience stores, shopping centers, office buildings, industrial buildings, hotels, motels and more. Selling a commercial property requires patience, skill and knowledge about legalities involved, market forces, demand, etc.
Following are some tips that will help you to sell your commercial property:
- Property Valuation: It is the first step in the process of selling your property. The value of a commercial property is directly related to the income it generates and is calculated by dividing the net operating income by the area’s capitalization rate.
- Curb Appeal: To increase the value of your commercial building, take some steps to beautify it on the outside. You can increase the curb appeal of the property by improving its landscaping, getting it power washed, applying a fresh coat of paint, replacing broken fixtures and more.
- A Pricing Strategy: Develop a pricing strategy based on the price of other properties being sold in proximity of your property. Also, learn about the features and amenities offered in nearby properties.
- Create A Marketing Packet: Sellers who create a marketing packet consisting of all the relevant information regarding the commercial property are more likely to find buyers faster. A marketing packet highlights the best attributes of your property and helps a buyer in making a well-informed decision.
- Marketing Strategies: You should formulate your marketing strategy based on the buying behavior of your target clients. Nowadays, using social media for marketing a property has become a popular medium to reach a large number of potential buyers.
- Contact Buyers: The best way to contact potential buyers is to build a contact list and reach out to them via email, cold calling, websites, blogging, and other modes of advertizing. Establish a relationship with the potential buyers for building their trust.
- Educate Yourself: Gather knowledge about the buyer behavior, latest real estate marketing techniques & tips, current pricing trends, commercial property metrics and more.
- Consult An Agent: Commercial real estate agents have in-depth knowledge about the market trends and the rules governing the sale of a commercial property.
John Reider Properties assists its clients in selling their commercial property and striking a great deal. The team has over 50 years of combined commercial sales and acquisition experience. They benefit from their knowledge about zoning, planning, city’s development plans and survey options to help their clients maximize their ROI and save their resources. To know more about selling your commercial property, call at (254) 699 – 8300. You can also visit John Reider Properties 455 E. Central Texas Expwy, Suite 101, Harker Heights, TX – 76548.