New real estate market prices are growing at an enviable rate after the crash they suffered during the economic crisis. This means that a favorable scenario has been created to be able to sell a commercial premises quickly. Pawel Kentaro Grendys, an expert in Latin American real estate, offers insight into how to quickly sell commercial real estate through better marketing.
Real estate is now being revalued, especially if they are located in large cities. However, there are people who prefer to continue waiting to see how the revaluation of real estate progresses and, thus, sell at the peak. However, this usually means that more risks are taken.
Setting the price is, without a doubt, one of the first decisions sellers must make before putting a commercial premises for sale. To do this, it is convenient to check what the price level is in the area and be able to compare our premises with others with similar characteristics.
If this is the cheapest option, another possibility is also to ask an appraiser to make an estimate. Adds Grendys, “To be able to sell the commercial premises in the best conditions, having the help of a professional real estate service specialized in real estate mediation may be the best.”
Unfortunately, there are a number of legal requirements in order to sell a commercial premises. One of them is the need to provide the buyer with the necessary information to prove that we own the premises through a copy of the deed or a simple note, which can be requested from the Property Registry also electronically.
Having a plan is especially important when selling a commercial premises, because the distribution of the premises will depend on the use that can be given. Thus, it would be advisable to go to a technician to make some plans of the distribution of the premises.
It is essential to have them in order to know if there is any prohibited activity or if the commercial premises you want to sell has some kind of limitation. Therefore, it is important to request the community statutes from the administrator of the property or the Land Registry.
If the commercial space you want to sell is rented, it is most likely that the buyer will ask you for a copy of the rental agreement. In addition, it is important to note whether the contract confers on the lessee aright of pre-emption.
Another element to take into account are licenses or taxes. Commercial premises must be up to date with payments at the time you decide to sell them, and understanding any liabilities is imperative prior to signing a contract.
It is essential that the premises are clean and collected in order to promote its sale and that, during visits, it generates a good image. For this reason, reforms, even small ones, can sometimes greatly revalue the sale price of the commercial premises.
Be prepared and respond quickly to inquiries from potential buyers, no matter the time of day or night. Keep track of all communications with potential sellers by saving their details and email addresses for future correspondence. Doing this will help the process run smoothly.
One feature could be anything from a cozy fireplace in the lobby to a fully equipped kitchen that’s great for starting new businesses. A unique feature will help attract more buyers, especially those looking for something different.
Lastly, when listing your property, include photos of the interior and exterior of the property. Specific details about the interior, such as how many restrooms or parking spaces are available in your building, will help paint a clearer picture for shoppers.
Concludes Grendys, “Use bullet points instead of long paragraphs. It’s easier for buyers to quickly decide if all relevant information is provided in a more understandable way. Don’t forget to attach documents, photos and floor plans to emails.”