Basics of Property Management: Screening Potential Tenants

3 Tips For Selling Your Commercial Property

31 March 2021

Jesse Obrien

If your business is looking to relocate, you might be looking to sell your current office site. The commercial real estate market can be slow at times, so it's important to do everything possible to increase your chances of finding a buyer quickly. Here are a few tips to help you get started.

Find a Commercial Real Estate Agent

First things first, it's time to find a real estate agent and, in your case, you'll want to find someone who specializes in commercial transactions like yours. Commercial real estate agents will likely be aware of any other companies or investors in the area who might be looking for a new space. Because of the specialized nature of a commercial real estate transaction, finding the right agent is probably even more important here than with a residential listing.

Improve Your Curb Appeal

If you want another business person or company to come swooping in to pick up your property, you need to make sure that property is as enticing as possible. If the outside of your building is showing visible signs of decay or has some sloppy landscaping going on, you are going to turn people off before they even get inside. Hire a few professional contractors to get your building and the surrounding grounds into pristine condition before you begin bringing in potential buyers.

Be Prepared for an Appraisal

A commercial real estate appraisal is a bit more complicated than a residential one, and most potential commercial buyers will want to see an appraisal before they commit to buying. In order for the appraisal to go smoothly, make sure you have all of your building documentation in order and be honest and upfront about any issues with the building. That said, this would also be a good time to put down a new coat of paint or fix the building's air conditioning. The real estate appraisal service is trained to be skeptical and will be double-checking everything you say. Don't give your appraiser a reason to doubt your integrity or intentions.

If you want to move your commercial property quickly, you can start by finding a commercial real estate agent with good contacts throughout the area. Next, make sure you fix up your curbside appeal by working on the landscaping or fixing any other eyesores on the grounds of the building. Finally, understand that a lot of commercial buyers will want a professional appraisal done before they commit, so be prepared to go through that process as much as you can. For more tips, contact a real estate agent today.

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