Are you flipping a commercial property? Alternatively, have you outgrown your current business space and you need to sell it?
Regardless of why you want to sell commercial property, we’re guessing you want to sell it fast. No property owner wants to sit on a vacant property for months waiting for a buyer to commit to a purchase. Doing so costs you money in taxes and utilities.
Instead, learn how to appeal to commercial buyers and get your property off your hands as quickly as possible.
How to Sell Commercial Property Quickly
If you want to sell a commercial property quickly, it means getting into the minds of potential buyers. However, like you, they’re all business owners, so it shouldn’t be too difficult. Simply consider all of the things that would be important to you if you were looking at the property as a potential space for your business.
1. Know Your Target Audience
First, you need to identify your audience. Who will be most likely to want your space? What companies will benefit most from a property like yours?
These are important factors to consider in order to determine who to target with your marketing. For example, if you have a huge warehouse-type space, you shouldn’t waste your time trying to find an office-style company.
2. Make Necessary Updates and Repairs
Next, to sell a commercial property quickly, make sure you’ve taken care of all the small flaws that tend to grab the attention of potential buyers. This includes superficial and aesthetic damages to walls, floors, trim, etc.
This also includes important things like leaky pipes, bad electrical, roofing issues, etc.
3. Keep It Clean
When people search for “the best way to sell my house fast,” the first tips always involve keeping the space clean. Selling a commercial property is no different. Potential buyers don’t want to come in and see a bunch of clutter, garbage, or construction work in the area they’re considering buying.
4. Hire an Experienced Commerical Realtor
A vital step when trying to sell a commercial property quickly is hiring an experienced agent. Commercial realtors know the area, have connections and know exactly what potential buyers will be looking for. Despite the high realtor fees, it pays to have one on your side.
While we already talked about keeping the commercial property in question clean, you also need to keep it decluttered, if not totally empty. A buyer wants to come in and take a look at an open space so they can imagine what it’d be like to operate a business there. They can’t do the space is cluttered or full of stuff from your business.
6. Price It Reasonably
Finally, remember that both the buyer and seller of any transaction is looking for the best deal. In order to sell a commercial property quickly, you must price it right, especially since small business owners often have enough trouble keeping their lights on.
Be reasonable on your price and open to negotiation.
Looking for More in Architecture?
Knowing how to sell commercial property fast is one thing, but do you know what architectural trends are popular right now? What about design ideas for your next business space?
For more on design and architecture, take a look at the rest of our articles before you go!