Secrets to Getting Commercial Real Estate Offers Accepted

Trying to sell a home can be difficult and selling a commercial property is even more so. If you are selling a commercial property you may face a long wait before getting any offers, but here are some tips for getting your offers accepted.

Curb appeal – make sure that your property looks good, whether it is a building or something else. If your property is appealing to the eye people may be more drawn to it and willing to buy it.

Final checks – Before putting your property on the market go through and make sure there are no issues with the property. You want to keep an eye out for anything that could break a sale; leaky roof tiles, missing floorboards or water damage can all be off-putting for potential buyers who will not want to buy a property that is in need of massive repairs.

Read More: Mistakes to Avoid when Buying Commercial Real Estate

Get your property out there – Posting for sale signs on light posts is not enough to get your property noticed nowadays. So take it to the internet where there is a bigger audience who will see your offer. Post your offers on Facebook Marketplace or other social media sites and people can contact you from there. But make sure you keep up with the posts so that you don’t miss an offer.

Hire a broker – This can be an important thing to keep in mind if you have never sold a property before. Real estate brokers will know how to market your property and how to connect with buyers. They can also help you by giving you advice on what price to set for your property and tell you some of the ins and outs of the current market.

Pricing – This can be greatly helped with the hiring of a broker but you will not fail if you don’t have one. This secret is as simple as just knowing the neighborhood that your property is in. Are there lots of other commercial properties for sale in the area? What are their prices? What makes your property different from others? Also keep in mind the zoning and demographics of your area. If there is a high crime of theft and property damage that will affect how your property sells.

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Be Patient – Selling a property takes time and you will need to be patient during this process. Put the property out-there as much as you can but realize that you will still need to wait on the offers.

Be a people person – When a buyer finally decides to look at your house it is important that you get to know them and their needs. Find out what they are looking for and how they can use your property for their benefit. Use this time to tell them about the benefits and potential challenges that come with owning the property. Honesty is the best policy but don’t try and oversell or the buyer may be suspicious. It is also important to keep in contact with the potential buyers you may have. After they have looked at the property send them an email or a call to thank them for stopping by. Then give them a few days to think and keep them posted on any other buyers who make offers. Don’t wait too long to hear back from them or they may forget about it.

Related Post: 4 Things Your Realtor® Needs to Be Doing for You

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Comments:

Orlando Buyers Agent says: It's so important to have the right agent on your side! If you don't have an agent that is on the job, working tirelessly to get the home sold to the right person AND following up constantly, then you can almost guarantee a great transaction. 

Sunny Isles Beach Realtor says: Man, yes, be patient. Commercial property is a tricky one to sell and it's definitely not like residential. People must be patient and be prepared for the long haul.