If you are ready to get rid of your business because you want to retire, remove yourself from a business venture, or have gotten too big for the current location, you have things to consider before hanging a for sale sign in front of your building. If you really want to sell, you have to make the property desirable to viable buyers. You have to price the property right and market it aggressively. You also need to find a Broker who knows what kind of commercial real estate Central Minnesota investors want.
If your building is centrally located and easy to get to, you will have a much easier time selling it. Convenient access to parking is another plus. If you are selling an industrial warehouse type building, and are located in an industrial area of town, where it's easy for large trucks to get in and out, and to load and unload, your chances of selling are improved. You want to emphasize these benefits in all your advertising and marketing.
You have to take an impartial look at the property your are selling and access the sort of presentation it makes. This is not as crucial as it would be if you were selling residential property, but an inviting appearance will make a difference. There is not much cost involved in removing trash, adding shrubbery at entrances, and washing windows. The difference will probably amaze you.
All the cosmetic changes in the world won't help though, if the property is priced too high. You will have to research comparable sales in the area to find out what the market thinks your property is worth. You will have to put together a complete buyer's package. This should include things like the rent rolls, tenant history, a plat of the property, and taxes.
Advertising isn't cheap. You don't want to waste time and money on any marketing efforts that don't target your most probable buyers. That includes ad copy and placement and photography. Your goal is to engage potential buyers and provide them with just enough information that they have to call you and discuss the particulars of the property with you. Intentionally omitting vital information is a strategy that works in many situations.
You have to find the best and most experienced CRE Broker and hire that person. Unless you are in the business of selling commercial property, you need to turn this job over to the professionals. Selling this kind of property can be complicated. You need someone who knows the local market and has the ability to market your property nationally and internationally, if that is appropriate.
At some point you are going to need someone who knows how to negotiate these kinds of real estate deals. You have to hire a Broker who has the skills necessary to get buyers to the table. Working together, you and your Broker can develop strategies that will have qualified buyers making viable offers, and showing up for the closing.
You may have experience with selling a house in the past, but business property is totally different. You need a good Broker who knows the market and the most likely buyers. You have to price the property competitively and maximize its curb appeal.
If your building is centrally located and easy to get to, you will have a much easier time selling it. Convenient access to parking is another plus. If you are selling an industrial warehouse type building, and are located in an industrial area of town, where it's easy for large trucks to get in and out, and to load and unload, your chances of selling are improved. You want to emphasize these benefits in all your advertising and marketing.
You have to take an impartial look at the property your are selling and access the sort of presentation it makes. This is not as crucial as it would be if you were selling residential property, but an inviting appearance will make a difference. There is not much cost involved in removing trash, adding shrubbery at entrances, and washing windows. The difference will probably amaze you.
All the cosmetic changes in the world won't help though, if the property is priced too high. You will have to research comparable sales in the area to find out what the market thinks your property is worth. You will have to put together a complete buyer's package. This should include things like the rent rolls, tenant history, a plat of the property, and taxes.
Advertising isn't cheap. You don't want to waste time and money on any marketing efforts that don't target your most probable buyers. That includes ad copy and placement and photography. Your goal is to engage potential buyers and provide them with just enough information that they have to call you and discuss the particulars of the property with you. Intentionally omitting vital information is a strategy that works in many situations.
You have to find the best and most experienced CRE Broker and hire that person. Unless you are in the business of selling commercial property, you need to turn this job over to the professionals. Selling this kind of property can be complicated. You need someone who knows the local market and has the ability to market your property nationally and internationally, if that is appropriate.
At some point you are going to need someone who knows how to negotiate these kinds of real estate deals. You have to hire a Broker who has the skills necessary to get buyers to the table. Working together, you and your Broker can develop strategies that will have qualified buyers making viable offers, and showing up for the closing.
You may have experience with selling a house in the past, but business property is totally different. You need a good Broker who knows the market and the most likely buyers. You have to price the property competitively and maximize its curb appeal.
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Get an overview of important factors to keep in mind when choosing a commercial real estate Central Minnesota agent and more information about a knowledgeable Realtor at http://www.east-westrealty.com now.
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