5 ways to outfit a commercial property for selling
Just like selling a home, doing your homework before releasing a piece of commercial property out into the crowded world of listings increases your chances of successfully negotiating a sale.
Here are a few handy tips that can help you attract the right buyers:
1. Get in touch with a specialist
Involving a third party who specializes in the property type you’re attempting to sell is a very smart move. Chances are, someone who’s experienced has already successfully completed similar transactions, giving your commercial property an instant advantage on the market.
2. Repair strategically
With commercial properties, it’s okay to leave a few minor things unrepaired – but it’s very important to be honest when asked about the property’s maintenance status. Open communication is key – sellers should be able to understand the value of the property but at the same time be upfront about issues like repairs or upgrades. Transparency will ensure a smooth, problem-free transaction, and avoid future misunderstandings.
3. Enhance its appeal
You’ll never know what a commercial property will be used for so your efforts at cosmetic enhancements may prove meaningless to a prospective buyer. The better option is to ensure that the property is thoroughly cleaned.
4. Make sure the roof is in excellent condition
A well-maintained roof puts the seller in a positive light. It shows that a seller cares about the property enough to ensure it’s always in great condition. Just a single leak or minimal visible damage on a roof is enough to lower a potential buyer’s interest.
5. Always have paperwork and documentation ready
A seller must know how much a piece of commercial property makes, and have the necessary documents to prove it. Showing a prospective buyer that you’ve gathered all the important papers ahead of time speaks of your professionalism and puts buyers at ease.
