Selling a commercial property can be a long-term process if you aren’t properly prepared, as there is a lot of paperwork involved in the process and most businesses will want to take their time making a decision. It can be quite a frustrating process, especially if you want to sell the property quickly and don’t have the time to spend on waiting for a buyer to make a decision.
Luckily, there are a few things that you can do to speed up the whole process and essentially grease the wheels a little bit to ensure that the parts of the process that you have full control over go as smoothly as possible. With these three tips you should be able to sell your commercial property a lot faster, leaving you free to dedicate your valuable time elsewhere.
Tip #1 – Put a Comprehensive Selling Pack Together
There are a lot of searches involved when it comes to selling a commercial property. The buyer needs to know a lot of information, such as planning permissions, environmental searches and a wide range of other information that can help them make their decision.
In many cases the seller will allow the buyer’s estate agent to conduct those searches and find the paperwork themselves, but this can be a mistake if you are looking to sell the property quickly.
Instead you should speak to your own estate agent and find out about every piece of paperwork that a prospective buyer may need to complete the purchase. From there, you should find all of that out yourself and create a comprehensive selling pack that can be advertised on the web and through your real estate company.
This will take a little bit of time and money to put together, but it can save weeks of time as the buyer is no longer obligated to find that information for themselves. Have everything prepared and you can put a little more pressure on them to make a decision.
Tip #2 – Creative Literature
You should ensure that you take full advantage of every sales avenue that is available to you. Simply putting the property up on the web may not be enough to attract interest quickly enough, so make sure you utilise other methods as well.
Think of it like a marketing campaign. You attract more customers using creative literature, email campaigns and other marketing strategies. Apply these tactics to the sales process and treat your buyers like customers. You want to give them the best service and information possible so that they are aware of the property and don’t need to go out and find details for themselves.
Tip #3 – Find a Unique Selling Point
Most buyers will have a shortlist of potential properties that they are interested in purchasing so it is important to make yours stand out as far as possible. Find something that is unique and attractive about your property and ensure that is front and centre in the selling process. If you can successfully give the buyer a reason to remember your commercial property then there is a higher probability that they will consider purchasing it.
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Please note the content is not intended to be, legal or investment advice. You should consult a licensed attorney or realtor for advice regarding your individual situation.