Selling any piece of real estate has its challenges. Selling a commercial property, whether it’s an apartment complex, office building or warehouse is no different. Here are things to think about as you start the selling process.
1. Get To Know Your Market
It’s nearly impossible selling commercial real estate property Charlotte NC without some kind of marketing, and the number one rule of marketing is to know your audience. Brokers can help you do this. They have the resources and expertise needed to understand market trends in your area and can help you create a plan to advertise your property. They can also use their connections to find potential buyers and, once you find one, help you complete the sale.
2. Make a Good First Impression
While your broker works on finding buyers, you can focus on getting ready to impress them. Mowing grass, planting flowers, trimming trees, and having your building power-washed and painted can go a long way. Though these things don’t necessarily add much long-term value, they help create a positive first impression for potential buyers.
3. Fix Any Problem Areas
Make sure your property doesn’t leave future owners with glaring red flags. Walk through it, and put yourself in their shoes. Take note of any concerns you would have as a buyer, and then try to solve as many of them as possible. Look for dirty carpet, smelly rooms, signs of water damage or mold, broken lights, and anything else that may discourage a purchaser.
Talking to your tenants about problems they’ve noticed can be beneficial as well. After all, they’re the ones who are looking at those stained ceiling tiles and sitting by that drafty window all day. Pay attention to exterior problems such as bad drainage, dead grass, or cracked pavement as well.
Selling your commercial property can be done well with the help of a professional and with a little care put into to your buildings and land. By working with your broker, listening to your tenants and looking at what others are doing in your area, you can make your property attractive to the right buyer.