Whether you want to sell an office, retail shop, grocery store, or other commercial property, there’s more to it than placing a sign in front of the building. Ensure your commercial real estate is ready to sell with the right preparation. The below tips will help you start, so your property sells quickly and for the right price.

How Do You Ensure a Commercial Property Is Ready to Sell?

Choose the Right Broker

Find a commercial real estate agent that has experience selling your type of property. The best brokers also offer in-depth knowledge of the local market, can create custom marketing plans, has industry connections, and will negotiate to boost your bottom line. Also, work with an agent who puts you at ease and answers your questions with exhaustive detail. If you don’t feel comfortable, move on.

Know Your Audience & Research Pricing

Create buyer personas with your broker to understand the leads you want to attract. If your buyers are mainly investors, know what they’re looking for, such as turnkey properties that don’t require much work, compared to buildings they must fix. The more you know about your target market, the easier it is to create plans that pique their interest.

Learn the recent sale price of similar properties in the region. Also, keep the season in mind. For example, perhaps other retail spaces in your area sell mainly during spring or winter. Additionally, consider the capitalization rate, or the amount of money you have in the property, compared to the income it generates yearly. The return the commercial property earns should influence your pricing decisions.

Improve Curb Appeal

Prepare the commercial property for sale by making it as attractive as possible. Hire power washing, landscaping, interior cleaning, carpet cleaning or installation, and plumbing, HVAC, and electrical repair services. Not only does cleaning and repair improve the appearance, but they also limit negotiations because buyers won’t have a list of grievances.

The real estate agents at Winmar Corporation can help you sell your commercial property. Also specializing in office rentals within historic properties, as well as property management, this Lexington, KY, company has served the region since 1951. Call (859) 254-5755 to get started or learn more about the commercial real estate agents online.