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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.
The location can make or break your sale. If your property has retail potential, it must be centrally located with plenty of parking. When you have industrial type property with loading docks, a location in an industrial park or some other area with turn arounds and easy ingress and egress will be desirable. These are important selling points that need to be advertised.
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.
Pricing your property competitively is key. Everything you do will be a waste of time if you price yourself out of the market. It's important to do the research it takes to find good comparables. You have to be able to offer interested parties all the information they need to make informed decisions. That includes rent rolls, tenant histories, property taxes, and surveys.
Advertising is expensive. You don't want to waste your marketing dollars on anything that isn't specifically targeting your most probable buyers. Everything from the ad placement to the photography has to be geared toward engaging your target market. You need to give the reader the right amount of information. It should be just enough to compel the prospective buyers to call for more.
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.
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 a residential property and selling a business property are not the same thing.You might sell an house on your own, but you will need an experienced Broker to get the best deal possible for your commercial real estate. Competitive pricing and curb appeal will help make it happen.
The location can make or break your sale. If your property has retail potential, it must be centrally located with plenty of parking. When you have industrial type property with loading docks, a location in an industrial park or some other area with turn arounds and easy ingress and egress will be desirable. These are important selling points that need to be advertised.
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.
Pricing your property competitively is key. Everything you do will be a waste of time if you price yourself out of the market. It's important to do the research it takes to find good comparables. You have to be able to offer interested parties all the information they need to make informed decisions. That includes rent rolls, tenant histories, property taxes, and surveys.
Advertising is expensive. You don't want to waste your marketing dollars on anything that isn't specifically targeting your most probable buyers. Everything from the ad placement to the photography has to be geared toward engaging your target market. You need to give the reader the right amount of information. It should be just enough to compel the prospective buyers to call for more.
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.
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 a residential property and selling a business property are not the same thing.You might sell an house on your own, but you will need an experienced Broker to get the best deal possible for your commercial real estate. Competitive pricing and curb appeal will help make it happen.
About the Author:
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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