When you decide to retire, have outgrown your present location, or just need to pass on a business investment, you have to take a lot into consideration before affixing a sale sign to your building. If you are serious about selling, you must maximize the desirability factor. The property must be priced competitively and marketed aggressively. You need a Broker who is knowledgeable about the commercial real estate Central Minnesota investors buy.
If your building is centrally located and easy to get to, you will have a much easier time selling it. Convenient access to parking is another plus. If you are selling an industrial warehouse type building, and are located in an industrial area of town, where it's easy for large trucks to get in and out, and to load and unload, your chances of selling are improved. You want to emphasize these benefits in all your advertising and marketing.
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.
All the cosmetic changes in the world won't help though, if the property is priced too high. You will have to research comparable sales in the area to find out what the market thinks your property is worth. You will have to put together a complete buyer's package. This should include things like the rent rolls, tenant history, a plat of the property, and taxes.
Advertising can get expensive. You should pinpoint who your most probable buyers are and target them specifically. Everything, including photography, ad copy, and ad placement must be done with the intended target in mind. The purpose of your marketing should be to engage the buyer. You want to give out just enough information that the buyer feels compelled to get in touch with you for more information.
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 need to hire a Broker who is a skilled negotiator. Once your advertising efforts have generated serious interest, getting a buyer to the table is the next step. You and the Broker will have to work together to create strategies that will generate offers.
Selling a residential property and selling a business property are not the same thing.You might sell an house on your own, but you will need an experienced Broker to get the best deal possible for your commercial real estate. Competitive pricing and curb appeal will help make it happen.
If your building is centrally located and easy to get to, you will have a much easier time selling it. Convenient access to parking is another plus. If you are selling an industrial warehouse type building, and are located in an industrial area of town, where it's easy for large trucks to get in and out, and to load and unload, your chances of selling are improved. You want to emphasize these benefits in all your advertising and marketing.
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.
All the cosmetic changes in the world won't help though, if the property is priced too high. You will have to research comparable sales in the area to find out what the market thinks your property is worth. You will have to put together a complete buyer's package. This should include things like the rent rolls, tenant history, a plat of the property, and taxes.
Advertising can get expensive. You should pinpoint who your most probable buyers are and target them specifically. Everything, including photography, ad copy, and ad placement must be done with the intended target in mind. The purpose of your marketing should be to engage the buyer. You want to give out just enough information that the buyer feels compelled to get in touch with you for more information.
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 need to hire a Broker who is a skilled negotiator. Once your advertising efforts have generated serious interest, getting a buyer to the table is the next step. You and the Broker will have to work together to create strategies that will generate offers.
Selling a residential property and selling a business property are not the same thing.You might sell an house on your own, but you will need an experienced Broker to get the best deal possible for your commercial real estate. Competitive pricing and curb appeal will help make it happen.
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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