Commercial Real Estate
Commercial Real Estate
Here, we are going to highlight some tips to ensure that your listed commercial property gets sold quickly. Commercial Real Estate is one of our favorites, because we get to see buyers, as business owners, grow in Twin Falls Idaho.
Give Your Commercial Property a Makeover
1.Regardless of how pretty the interior of your commercial property looks in the pictures you have on the listing, the exterior is going to be the potential buyer’s first impression. If the commercial property is not a new construction, looks for ways to increase the curb appeal of your property.
It might be that a fresh coat of paint is all you need. Choose paint colors that are trending and suit the type of businesses you’re trying to attract to your property. You can also make minor repairs around the exterior and interior. Repair windows, doors, lighting fixtures and common areas around your property.
Landscaping is another great way to give the appearance of your commercial property a boost. Since commercial properties don’t always sell better when they are empty, it’s best to make sure the interior is as clean as possible before you market it.
Why Sellers Choose Us?
We are one of the Top 100 Sales teams in the Nation according to Realtor Magazine. We have the expertise to find buyers for your Commercial Property. We’re here when you need us. Feel free to call, come into the office or email us and we’ll ensure a quick response time. Selling your Commercial Property is easy because Sid knows how to market the property and get any permits needed by the city for just about anything the buyer wants to do with the property.
2. Before listing your property on the market, the first and foremost task is knowing how your property compares to other similar commercial real estate in the area. This will give you a better idea of what your property is worth. To make sure your property sells quickly at your asking price, you need to get familiar with the pricing trends of the neighborhood where your property is located.
Be Realistic with Your Demands
3. Owners of commercial properties need to make sure their asking price is what the market is willing to pay. Asking too much or too little can be bad when selling a commercial real estate property. While asking too little means you’re losing money for your property, asking too much is one of the main reasons why properties remain unsold for months. This is because the owner’s demands were unrealistic.
Gather the Necessary Documentation
4. Before you list your property on the market, you need to gather all the necessary documents and information regarding your property. These documents include the title, lease, zoning regulations, ADA Compliance, permits and surveys, along with the tax certificates and the seller’s financial records. Not only that, sellers need to ensure all their legal entity data is stored securely in a VDR (Virtual Data Room).
While the paperwork is something that owners often let their attorney handle, sellers need to get familiar with the documents that will be required in a commercial real estate transaction. All documentation pertaining to your commercial real estate property needs to be organized and current.
Why Sellers Choose Us?
We’ll help you negotiate so that the final contract includes your best possible terms and conditions. We’ll help you coordinate and negotiate any permits required by the city to put the buyer in a good place. Once you have an accepted offer on the property, we’ll track the progress until closing and keep you informed every step of the way.
Get Familiar with Both Sides of the Transaction Process
5. Although you are the seller, which means there will be quite a lot of work for you to do, it pays to educate yourself on the buyer side of the commercial real estate transaction as well. That’s because it’s crucial that both parties are on the same page to make the transaction possible. Knowing what the priorities are of the other party will give you a better chance of making your property more attractive for the buyer.
6. Patience is the key to selling commercial real estate. The process of selling commercial property and property in general—can be a lengthy one that requires a lot of documentation and legwork. Depending of what type of commercial property you have for sale, it could take as little as a couple of months or even longer than a year or more.
Then again, when the price is right and it is marketed to the right audience, selling your property should be a walk in the park. On the other hand, if you do not have the time or simply do not know what to do to sell your commercial property, you can contact a professional service provider who can list your property for you in the proper channels.
Display Your Commercial Property in a Good Light
7. Online real estate listings have made it easier for sellers to make sure their property is viewed by the most people and sold quickly. Buyers of residential and commercial real estate normally gravitate towards listings that are accompanied by pictures and video. This enables them to get the true picture.
Potential Buyers will have a better idea of the type of property they are purchasing by picturing themselves in the property. Keeping that in mind, you want to make sure you have included high quality photos, video and, if possible, even floor plans and site plans of your commercial property.
Get Your Commercial Property Appraised
8. The process of appraisals is more complex when it comes to commercial properties as compared to residential real estate. The typical appraisal will involve an initial inspection. Appraisers will also look at public ownership, zoning records, and they will analyze all other information related to the value of your property.
Apart from supplying the appraiser with all the information that is required, you need to learn the commercial real estate appraisal process to make sure your property has a better chance at selling. As a seller, you might want to take this approach first rather than last. This will give you the most realistic idea of the value in today’s market.
Not Quite Ready to Sell?
No obligation, but if you want to get ahead for when you are ready we’ll do some research on your property and send you some facts about your property.
We’ll put together a package that will give you an idea of what to expect for when you are ready to take the next step.