Investing in real estate can be a lucrative venture but there is one essential aspect that can be your biggest challenge: the ability to find a right buyer. Finding buyers to strike the expected deal is paramount to your success in the real estate business. However, selling a commercial property is way different than selling residential properties- it is more complex and definitely more time-consuming. Selling a commercial property can be tricky because there might be various similar options for a buyer. So how do you stand out from the crowd and attract the right buyer for your commercial property? What are the best ways to sell your commercial property for the price it deserves? If you’ve been trying to sell your property for quite a while and you’re feeling stuck, these ideas may help you generate some interest and get things moving faster:
Invest in creating a lasting impression
It is very important to showcase your property in the best light possible, so try putting your resources into good photography to attract buyers. If you own a commercial property within a prime location or good surroundings, invest in aerial photography to get a good view of the location. Buyers usually skim listings but pictures are meant to get the eyes!
Follow the trends: Go digital!
It’s time to ditch the old school methods and follow the latest trends to get the best deal for your property. Buyers are increasingly turning to the internet to fulfill their commercial property requirements. Hence, you can be assured that it is definitely the best medium to exhibit your property. If you can, go premium- this way your property listing will be ahead of your competition and you will get maximum clicks as well as guaranteed leads.
Get ready for all sorts on questions
It is a huge decision for a buyer to invest in commercial real estate, so be prepared to be asked a gazillion questions. Provide as much information possible to maintain the interest of the buyers who contact you enquiring about your property. This will allow the buyer to submit their best possible offer after evaluating the property.
Mention a closing date
Creating a sense of urgency often helps sellers to close deals faster than expected. It is usually advised to state a closing date and nominate a fixed timeline inviting buyers to investigate the property and submitting their offers. You can carry out this through auctions, tenders or inviting buyers to submit an expression of interest within a fixed period of time. This will help you to speed up the selling process.
Maintain buyer momentum
Keep up the flow of information throughout your campaigning period and make sure that your campaign does not last more than a few weeks. In this time frame, buyers will have sufficient time to follow up on their leads to make necessary evaluation and will not be too long for buyers to lose interest.