Do's and Don'ts When Listing

Commercial real estate is one of the best investment types, but when it comes to listing your investment, there’s a lot of do’s and don’ts.

Do’s

Engage with a commercial real estate agent/broker. They will help guide you in the selling process, bring potential buyers, help list the property, and help evaluate your property. 

Give the exterior of the building a quick spruce. Whether it’s a quick coat of paint or new lighting, fix the landscaping repair windows, doors, etc. The exterior is the buyer’s first impression.

Compare properties in your area so that you can see what your property is worth. If you are wanting to sell the property quick you will have to base your property off what surrounding properties are asking. 

Gather all necessary documentation. Before listing make sure that you include the title, lease, zoning regulations, ADA Compliance, permits/surveys, tax certificates and seller’s financial records. Often your attorney will handle most of the paperwork but having the documents needed for the transaction will help with a quicker sale. 

Have patience. Selling commercial real estate is a lengthy process. Between documentation and legal for work it can take any where from two months or two years depending on the property type. 

Don’ts

Don’t set your price too high. Setting your price higher than what the value is will cause buyers to not even think twice about your property or just overlook it. 

Don’t under prepare. Think about your building. If you were to hand it over to someone today would you feel like the building and staff is up to par or is there much needed work to be done. Is all the paper work in order? 

Don’t forget to pre-qualify your buyers. You may have the fear of a potential buyer backing out but doing this will help protect you as a seller.

Have a property to sell but not sure where to start? Connect with me to get you started on the selling process.