Selling Commercial Real Estate
Selling commercial property in central Florida is a big undertaking but it doesn’t have to be confusing or overwhelming if you go with the right agent and an experienced negotiator. As a commercial real estate broker for Central Florida I want all of my clients to feel comfortable and educated when it comes to selling commercial property. Here are five things I want all of my clients to be well aware of before preparing their commercial property for sale.
Understand it is a slow process
This is not always the case but chances are, selling a commercial property, depending on the magnitude of the sale, could drag out for several months. This has nothing to do with the real estate agent in general but more along the lines of lender institutions and third-party participants. It will typically take longer to move commercial listings and residential listings so be prepared for the long haul and pleasantly surprised if the property strikes interest right away.
Understand the commercial appraisal process
Residential appraisals and commercial appraisals are vastly different. Inspections, information, codes, zoning laws and reports all need to be specified for the particular property. Valuation, property interest and future property gain is all taken into consideration when it comes to the appraisal and loan process. This alone can take several weeks if not months depending on the type of property.
Commercial real estate is still about relationships
Just because it’s corporate, professional and commercial, doesn’t mean that it cannot be relational. This is one similarity between residential and commercial. It is a relationship we built with our clients that determines your success and productivity. Not only do I want you to be satisfied with a residential sale but a commercial sale as well.
Zoning and building codes
Commercial real estate is full of commercial use lingo, building codes, and zoning laws. Staying up-to-date understanding these laws is crucial to marketing your commercial property effectively. It’s important to speak to local zoning officers and building officers to ask about any upcoming changes to the area.
Go with experience and training
Because we are trained real estate commercial sellers, we have the certifications, the experience and the knowledge to back any negotiations and get the property sold in a timely manner.
Commercial marketing technology
Understanding the most current marketing technology and advertising tools on the market today is essential in getting the right buyers to your property with offers on the table.