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How to Sell a Commercial Property the Right Way

Selling a commercial property brings a number of market factors together. Those factors have to be well planned and considered before the sale campaign commences. A real estate agent can help a property owner substantially with the trends of the local market.So the sale of a commercial property includes careful consideration with some important things including:
Timing of the sale
Impact of tenants in the sale
Orders and notices relative to the property
Impact of vacant areas in the property and on the sale
Levels of net income produced from the property
Strength and stability of the lease documentation for the tenants in the property
Good tenancy mix and a tenancy schedule that has been checked against existing leases
Methods of sale to be used that can create the sale interest and convert the buyers on a contract of sale at the best price in the current market
Other property up for sale in the same location or precinct
Time on market for selling property at the moment
Methods of marketing the property for sale
The ideal target market that the property should attract in marketing
The best price given the existing and prevailing market conditions
Levels of expenditure and outgoings in the running of the property
Evidence of prices from other sold property in the areaThe list can go on, but these are the main points to consider as you prepare to sell a commercial property. A good real estate agent will help a property owner through these key decisions and concepts.In the existing property market the choice of marketing is critical to attracting the right enquiry. If the target markets of purchasers are not reached, the sale price or offers will be lower than ideal.So what are the best ways to market a commercial property for sale? In most cases the marketing campaign will extend over a 6 to 8 week time frame and will include:
Internet adverts
Newspaper adverts
Signboard on the property
Flyers sent to the business community
Direct mail to an established database
Direct telephone calls
Email marketing to a qualified database of prospectsThis marketing plan should be balanced into a costed budget. With commercial property it is not unusual to spend around 1% of the property value in the marketing campaign. This is a cost to the property owner and should remain so. A well marketed property will attract the best enquiry and in reality the best price in the existing property market.Given the growth and impact of the internet in recent time, it is essential to implement a marketing strategy that releases the property into the different media channels at the same time. Buyers will typically go to the internet to seek more detail about the property before they call you to inspect.When the marketing campaign attracts the correct enquiry, then qualification of the buyers should happen before any property inspections occur. It is also wise to seek a signed confidentiality agreement from the potential buyers before they inspect the property. It is not unusual to get the property documentation back from the potential buyers after the property inspection if they are not interested in proceeding to sale.