Preparing the Commercial Property for Sale: The Key to Successful Transactions

When listing a commercial property for sale today, some strategies and considerations can improve your outcomes in the timing of the property sale and the eventual price.

Clients engage us as agents to sell their property based on our skills, market coverage, and marketing message. By focusing on those three factors, you can always build a straightforward strategic approach to any listing situation.

Selling commercial property of any type is not an experiment but a focused marketing campaign that works with a target audience of people, business owners, and investors for a location or property type. The target audience is defined as part of establishing a promotional campaign, and the strategy to attract that audience is put into motion.

So, what can we do about that? As agents, we want to get the best price outcomes for the client as quickly as possible. These are the core real estate strategies to focus on when preparing the property for sale and creating a marketing campaign.

1: Inspection strategy

Conduct a thorough property assessment based on the improvements, layout, and overall property precinct.

Look for the property’s strengths and weaknesses to ensure that you address any flaws that may cause problems when marketing, inspecting, or negotiating. Every property will have some drawbacks that must be identified and managed.

2: Full Property Review

Given that interested parties generally inspect most properties today before a full internal inspection with an agent, examine the subject property from the roadside to determine if any visual impediments or presentation issues need to be addressed.

Consider yourself a buyer, act like a buyer, and inspect the property as a buyer. One helpful approach is to check the property by taking numerous property photographs.

Those photographs can be reviewed later and become your assessment of the presentation. From that, you can develop a real estate marketing strategy based on what you see and how the property is presented.

3: Assessing Market Trends

Analyse market trends and look for competing or comparable properties in the area that may affect your marketing campaign. It is one thing to price a property correctly; it is quite another to ensure that you price it more favourably than the competing properties in the area.

The best commercial property in a location will sell faster than others. It is your responsibility to ensure that you are correctly addressing the necessary pricing, timing, and marketing strategy.

4: Use of Technology

Use available technology to ensure you reach your target audience for the property and location. Be specific about your real estate target audience, how to find and connect with them, and the marketing message that will appeal most to them. Tablet computers are good for use in a listing presentation.

Conclusion: Changing Markets are good

Given that most commercial real estate markets are in flux, plenty of people in your community exist that you can speak with. That is a daily event, and you can ask people about their property needs and any new listings you may have coming up or are currently listed.

As a result, each new or existing listing becomes an opportunity for a conversation. As you build your listing bank, your ability to speak with many property interested people improves, as does your reputation as a local property specialist in a specific property type.

As a special note, don’t try to cover too many property types or a large territory as an agent. Concentrating on a smaller area and specific property types is always better for agents. This allows you to build your brand and gain more listings over time.