Imagine you have a fancy commercial building to sell, like an office building, a shopping mall, or a warehouse. So, you list it for sale, thinking you’ll get a thousand buyers. But months pass, and you still can’t find your “dream buyer.”
What went wrong? The truth is, selling a commercial property is not that simple. It needs effective marketing and strategic planning to get the right buyer.
If you’re selling a small retail store or a 40-million-dollar office building, the rules of finding the right buyers are usually the same.
The good news is we are gonna tell you what these rules are! We will let you know about the right plans and strategies to find a potential buyer for your commercial property at the best price in the market!
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Which Type of Buyers Invest In Commercial Real Estate Property?
Your first step towards looking for your ideal commercial real estate buyer would be to find out who or what kinds of buyers usually buy the property that you’re aiming to sell. Buyers generally have different preferences when they go out and purchase properties. So, find the right one who is actively looking for properties like yours!
- Commercial Real Estate Investors: They are seasoned investors with a rightful grasp of the real estate market. They mostly invest in commercial properties as they’re looking for passive income.
- Business Owners: These investors will mainly look for properties that best suit their business needs and expansion.
- Investors: They are usually interested in buying a commercial property to expand their CRE portfolio.
Once you know your buyer type, you can modify your tactics to find the perfect buyer in the commercial real estate market!
What Ways Should You Follow To Find Commercial Real Estate Buyers?
Your next step would be to understand your potential buyers’ needs and preferences, which can help you figure out if you have a property that they need. Once you’ve gotten an idea, you can follow these easy steps!
Know Your Market
First things first! To sell your property, you need to have proper knowledge about your market. These are the questions you need to ask yourself.
- What properties are under construction?
- What is it that most buyers are looking for in a property?
- Who are my potential competitors in the market?
- What are the market trends in the CRE business?
If buyers see that you have extensive relevant information about the CRE market, they will be automatically interested in your property.
Network With Investors and Buyers
Staying connected to several investors and buyers can help you find serious buyers who are looking for investment opportunities. So, why not stay a step ahead? When you want to sell your property, take their advice and get their help to find the perfect buyer for your property!
Competitive Pricing
Setting up an unrealistic value for your commercial property can be of no use, as buyers will instantly be repelled once they ask about the cost. So, before setting up the price, you can do a deep market research and then evaluate your property value.
Use Social Media
Want to reach a broader range of buyers? There’s an easy way out! Try advertising your commercial property on several social media platforms. This way, if the buyer gets interested in your property, they can easily approach you via an online platform.
List Your Property on Several CRE Databases
This might sound obvious, but listing on commercial real estate databases can indeed be a valuable step to find buyers. It can simplify the process, increase the exposure of your property in the market, and also get you connected to serious buyers easily.
Contact With a Broker/ Commercial Real Estate Firms
If you want to buy a commercial building, you can choose a commercial real estate firm in the area to find reputable investors and business owners. They’ll know the correct strategies, have negotiation expertise, and have a database of potential buyers ready to buy a property. Plus, you’ll get expert guidance on how to set up proper pricing of your property and the innovative ways to advertise it to attract high-end buyers.
Along with all the points, to sell commercial real estate, you also need to highlight the unique selling features of your property. For instance, if you are selling a shopping mall that’s near a train station, you can stress this point to attract buyers who want good transport services near their properties. All in all, it’s just about finding a buyer whose needs and choices fit your property!
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What Do Most Commercial Real Estate Buyers Want to Know?
Most commercial real estate buyers will want to know some specific information about your property. To have all the information prepared to impress your buyers, you can follow our guide! We will tell you the right tactics to answer all the questions your buyer might have about your property!
- What Are Your Recent Sales Transactions?
You might come across this question several times! Buyers often want to know this to figure out your property’s worth and its potential for appreciation. So, be ready with all the sales information of your property beforehand that shows your property’s real value!
- Can You Provide Data, Videos, and Relevant Statistics About The Property?
Let the buyers decide for themselves how appealing your property is! So, when they ask this question, you can show them the videos of the building you’re selling, the outside area, and information about the sales, leases, and nearby sales listings.
- Can You Show Me Real-Time Market Reports?
When a buyer asks this question, be ready with an answer that includes information about the current market trends on rents, occupancy levels, new buildings, and the properties that are under construction.
By providing these valuable insights, you can let the buyer know about the growth potential of your property. This way, you can attract business owners and other real estate investors easily!
How Do You Know You Have A Serious Buyer for Your Property?
Another important aspect that you need to look out for is to identify whether a buyer is qualified and serious about buying or not. After all, you don’t want to waste your time while being stuck with a buyer who has no intention of purchasing a property, right?
Just look for these points:
- Ask for their identities right away when they want details about your property. Trust us, the right ones will show no hesitation in providing them.
- Know about their requirements and pricing expectations. If these are far off from what you’re offering, move on quickly!
- If you know an investor who can vouch for the buyer showing interest in your property, ask them immediately.
This way, you can avoid the investors and other buyers who are showing some red flags! Also, you can avoid these problems entirely if you simply rely on a commercial real estate broker. So, why not ask for their help?
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Takeaway
Finding the right commercial real estate investor is not an easy job. But it is not impossible! If you know about the market trends and the potential buyers for your property, and network with investors and buyers, you can simplify this complex process.
Plus, you can also set up competitive pricing for your property, use social media for advertising, and list your property on CRE databases.
Sell Smarter, Not Harder With Robert M. Skinner Commercial Real Estate
With over two decades of experience, Robert M. Skinner Commercial Real Estate has been guiding sellers to find their ideal buyer in the market. We have proven strategies, expert negotiation skills, and vast market knowledge to connect you with the best possible buyer. Hiring a commercial real estate broker in Reno can help you find the perfect buyer quickly and easily!
Still not sure? Here is some news for you
We have already completed multi-million-dollar transactions for our clients! All you need to do is hire us, and you can be assured that we will treat your property like it’s our own and sell it at the right price, no matter what! We have several clients backing up our high-standard service, so you can trust us.
Call us today at 775-335-6700!
