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.
Location is important. If you have a building that is centrally located and has easy access, you will have a much better chance of selling it. Parking access is another important consideration for buyers. If you have an industrial type property, like a warehouse, and it is located in an area specifically designed to accommodate large trucks, with plenty of room to load and unload, the chances of selling are greater.
You need to take a hard look at your property to access what kind of presentation it makes. This may not be as important as it would be if you were selling a residential property, but the condition of the building is still something potential buyers will consider. It's not that hard to pick up any trash, wash windows, and add some shrubbery to the entrance. You might be surprised at what a difference small changes can make.
Nothing you do will matter however, unless you have the property priced right. It's important to know what comparable properties have been selling for. You have to put together a comprehensive buyer package that includes all the pertinent documentation, like taxes, rent rolls, tenant histories, and a layout of the building.
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 will need to hire a good CRE Broker. Selling this kind of property is probably not something you can do successfully on your own. You need a professional who is familiar with the local market and can also reach a national and international audience, if the property warrants it.
You need to hire a Broker who is a skilled negotiator. Once your advertising efforts have generated serious interest, getting a buyer to the table is the next step. You and the Broker will have to work together to create strategies that will generate offers.
Selling commercial property is nothing like selling a house. It's very difficult to do without the services of an experienced Broker who understands the market and who the most likely buyers will be. A successful sale will require you to set a competitive price and maximize the curb appeal.
Location is important. If you have a building that is centrally located and has easy access, you will have a much better chance of selling it. Parking access is another important consideration for buyers. If you have an industrial type property, like a warehouse, and it is located in an area specifically designed to accommodate large trucks, with plenty of room to load and unload, the chances of selling are greater.
You need to take a hard look at your property to access what kind of presentation it makes. This may not be as important as it would be if you were selling a residential property, but the condition of the building is still something potential buyers will consider. It's not that hard to pick up any trash, wash windows, and add some shrubbery to the entrance. You might be surprised at what a difference small changes can make.
Nothing you do will matter however, unless you have the property priced right. It's important to know what comparable properties have been selling for. You have to put together a comprehensive buyer package that includes all the pertinent documentation, like taxes, rent rolls, tenant histories, and a layout of the building.
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 will need to hire a good CRE Broker. Selling this kind of property is probably not something you can do successfully on your own. You need a professional who is familiar with the local market and can also reach a national and international audience, if the property warrants it.
You need to hire a Broker who is a skilled negotiator. Once your advertising efforts have generated serious interest, getting a buyer to the table is the next step. You and the Broker will have to work together to create strategies that will generate offers.
Selling commercial property is nothing like selling a house. It's very difficult to do without the services of an experienced Broker who understands the market and who the most likely buyers will be. A successful sale will require you to set a competitive price and maximize the 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.