If you are retiring, have outgrown your current location, or just want to get out of a particular business investment, you have a lot to consider before putting a for sale sign on your building. In order to sell, your property has be desirable to potential buyers. It has to be priced and marketed right. You need a Broker who knows what commercial real estate Central Minnesota investors are looking for.
The location can make or break your sale. If your property has retail potential, it must be centrally located with plenty of parking. When you have industrial type property with loading docks, a location in an industrial park or some other area with turn arounds and easy ingress and egress will be desirable. These are important selling points that need to be advertised.
You need to take a hard look at your property to access what kind of presentation it makes. This may not be as important as it would be if you were selling a residential property, but the condition of the building is still something potential buyers will consider. It's not that hard to pick up any trash, wash windows, and add some shrubbery to the entrance. You might be surprised at what a difference small changes can 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 want to hire a skilled negotiator. Once the marketing efforts have generated interest, the next step is to lead a buyer to the negotiating table. You will have to work with the Broker on the best strategies to get the buyer to make an offer, and eventually close on the property.
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.
The location can make or break your sale. If your property has retail potential, it must be centrally located with plenty of parking. When you have industrial type property with loading docks, a location in an industrial park or some other area with turn arounds and easy ingress and egress will be desirable. These are important selling points that need to be advertised.
You need to take a hard look at your property to access what kind of presentation it makes. This may not be as important as it would be if you were selling a residential property, but the condition of the building is still something potential buyers will consider. It's not that hard to pick up any trash, wash windows, and add some shrubbery to the entrance. You might be surprised at what a difference small changes can 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 want to hire a skilled negotiator. Once the marketing efforts have generated interest, the next step is to lead a buyer to the negotiating table. You will have to work with the Broker on the best strategies to get the buyer to make an offer, and eventually close on the property.
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.
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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.
