Rules for the successful sale of commercial real estate
The process of selling commercial real estate has much more important subtleties, on which the outcome of the purchase and sale transaction depends directly. First of all, it should be remembered that it is not recommended to greatly overestimate the cost of the premises and misinform the buyer through an advertising campaign – nowadays clients have the opportunity to freely study the commercial real estate market via the Internet and compare offers. If you want to end up selling the building, it’s best not to complicate things from the very beginning.
The first thing to do is to conduct a professional appraisal of the commercial property for sale. This process includes calculating the material value of an object by the comparative method (studying other similar offers on the market) and profitable (calculating the profit that the premises can bring and the payback period for the purchase). It would be best to entrust this work to professionals.
To avoid claims, the documentation must clearly state all the data about the object in the smallest detail, because a dispute can even start over the availability of parking. In this case, appraisal companies can also help, because in the process of work their main responsibility is to notice all the important details that affect the cost.
Of course, one of the key roles is played by the correct presentation of the commercial real estate being sold. First of all, this refers to regulatory requirements (competent design of all accompanying documents, a detailed description of the object of sale, high-quality photographs), and secondly, of course, to advertising (determination of the target audience, promotion on the Internet and, if necessary, printed publications).
Prepare the premises for viewing by potential buyers (renovations, cleaning, etc.) so that it looks as presentable as possible.
In addition, most experts recommend not to put pressure on a potential buyer and in every possible way to show tolerance in connection with his desire to explore other offers on the market. This will demonstrate your professionalism and win over the client by understanding his needs.