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When selling commercial property, you’ll want to get the best possible offers from potential buyers. You can take several steps in advance of listing to increase the chances of selling for a higher amount. Here’s some advice on how to successfully sell commercial real estate.

How to Make Sure Your Commercial Real Estate Sale Goes Smoothly

1. Address Maintenance Issues

If the building has plumbing leaks, broken appliances, or damaged electrical wiring, hire professional contractors to perform these repairs before you list the property. Consider renovations, such as opening the floor plan, widening hallways, and upgrading the lighting. These improvement projects can make the property more competitive on the market. 

2. Boost Curb Appeal 

Buyers tend to judge properties by their exterior, so focus on boosting curb appeal before putting the building on the market. Power-wash dirt or algae buildup off the siding, give the doors, shutters, and trim a fresh coat of paint. 

3. Choose the Right Price

real estateDo some research on businesses in your area that have sold properties over the past 12 months. Look at lease rates, amenities, and location, as this information will help you price your property realistically and competitively. Additionally, consider the capitalization rate, or the annual income the building may earn potential buyers, when setting the price. 

4. Work With a Real Estate Agent 

An agent can take some of the stress out of the selling process. A licensed realtor will have knowledge of the local market and commercial marketing strategies. They’ll use their expertise to attract the right buyers and negotiate contracts successfully. 

 

When you’re ready to put your commercial property on the market, get in touch with Jeffrey Anderson Real Estate Broker in New York, NY. This firm provides assistance with commercial leasing to New York City clients. Call (917) 568-9642 to speak with a real estate advisor about buying or selling property, or visit the website to learn more about how to find the perfect office space for your company. 

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