Selling commercial real estate requires know-how to face challenges and seal a successful deal. Here are several tips that will help you sell your commercial property to the best buyer.
Find a commercial real estate broker
Don’t sell your property by yourself. It’s best to get in touch with an experienced commercial real estate specialist. Selling commercial properties can be overwhelming, especially if you’re unfamiliar with the jargon and the paperwork. By working with a local and expert CRE broker, you tap into his resources and instantly gain an advantage.
Look for a CRE broker with a vast knowledge in St. Louis Metro commercial real estate, one with an established presence in the community. You’ll want your CRE broker to be skilled in negotiation and adheres to the best practices in the industry.
Spruce up the property
First impressions matter. Take a look at your property and determine areas to improve, from landscaping and roofing to exterior paint and broken pot holes. A commercial property attracting inside and outside will generate a lot of interest from prospective buyers and investors.
Aside from improving curb appeal, have a professional inspector survey the property to identify what needs to be repaired or upgraded. Make the necessary renovations, and your property will wow buyers and investors for sure.
Check out the competition
When it comes to pricing your property, you don’t need to rely on just one source. Aside from having it appraised, ask your CRE broker to conduct research on similar properties to come up with a comparative market analysis. This report should be able to help you come up with a pricing strategy and come up with a competitive yet attractive price.
Learn more about selling commercial real estate in St. Louis Metro