Back in the day, when you needed to offload one of your properties or businesses, you just put the word out and soon someone would come knocking asking for further information. As society became more civilized, laws were set and professionals to improve the efficiency of the whole process. However, over time, their fees only seemed to go higher. This has led to the modern day where commercial property owners are wary of realtors or listing their properties for sale.
If you are looking for a How-to list on the strategy that you can use to sell your commercial property without listing, then you have come to the right place. First, let us look at some of the benefits of selling without listing.
· Saves you a lot of money in commissions
· You do not have to sacrifice price for time
· You drive the process yourself
· You have full control on who you sell to
· Your interests come first
However, selling a commercial property without listing is not a very simple task. By saving money, you will need to incur effort to get the job done in a timely manner. This is a comprehensive guide on How-to Sell A Commercial Property Without Listing. The steps are chronological so one should follow the other in that specific order.
Inspect and repair
This is the first and most important thing to do. Get a qualified inspector to go through the property and give you a detailed documentation of everything. This will act as a guide that the contractor will use to make the necessary repairs to the commercial property and bring it back to prime condition. Cleaning and landscaping services should follow soon after if required.
You then need to have your commercial property appraised. Since you are planning to sell without listing, you will not have a realtor to set the price. It is good to know the estimated value of your property in the current market. This will help you to set a reasonable price.
The way that you advertise is just as important as what you are advertising. A simple “for sale” sign will not cut it. Therefore, you need to come up with something that will do your commercial property justice. The advertisement needs to cover all the features of the property while making it a better alternative to everything else on the market at the same time. Send your advertisements out anywhere and everywhere. Make use of the word of mouth, a method that is both free and effective. You should also take advantage of online tools available for FSBO services. Never forget to use the powerful tool that is social media. Post your advertisement to all platforms an get people talking about it. If you can successfully create a buzz, you are sure to get potential buyers soon. Another cheeky way is to take advantage of the existing infrastructure and potential clientele. Make some flyers that you will drop at other open houses and listings.
Show off the property
This is an important element in this How-to list. Once you start getting those calls, it is time to schedule a property viewing. This is your chance to showcase your commercial property in person and get people interested in something tangible. It is also a good way to meet your potential buyers and charm them as a person.
Familiarise yourself with the law
Take the initiative to acquaint yourself with the existing laws of fair-housing. This should be done before formal negotiations begin. There are laws that you need to comply with during the sale of commercial property to avoid legal charges or persecution. These federal laws will help you properly reject and accept different offers without crossing any discrimination lines.
As the saying goes, if you want something done right, do it yourself. There is always a lot of red tape, time wastage, procedures and fees involved when it comes to selling the listed commercial property. It gets even worse when you end up with a unmotivated agent. For those times that you need to get your hands dirty, I hope this How-to guide will help you to score a sale in the shortest possible time with the shortest number of hurdles. The real estate market is quickly changing, it is about time that you start changing with it.
If you have commercial property that you wish to sell please contact us at 470-362-7887 or click here