Unless the Buyer is looking for a “Deal” and will be paying you the Seller accordingly, as with any other purchase, most potential Commercial Buyers are looking for Cash Flow along with Financials which support Your Asking Price.
As a Commercial Seller here are a few simple relatively inexpensive things you can do to help ensure you will sell your property for a price that meets your Re-Sale Goals.
Commercial Real Estate Broker Consultation | If you desire to sell your Commercial Property the first thing you should do, seriously, is consult with a Commercial Real Estate Professional…preferably one specifically trained in Investment Analysis. They live & breathe the Real Estate Market every day & can not only advise you on how to Optimize Your Property for Re-Sale & Maximize Sales Price, they can assist you in determining the Best Time to List Your Asset For Sale. They can also assist you with Reinvestment Opportunities, up front, before you close on the listed property, which may help Address Tax Consequences on the Back End. Go ahead, interview several Brokers until you find one you are comfortable with. Like your Doctor, Attorney, or CPA, Real Estate Brokers are a Trusted Member of Your Team. You should feel at ease discussing important & sometimes difficult issues with them and they should understand & respect your investment philosophies and goals.
Get the Numbers Up | Commercial Buyers buy “Cash Flows”…it’s why Investors “Invest” in the first place. If your property is Struggling with Vacancies and/or Rental Rates are Below Market; if you can, without creating vacancies, Increase Rents. Try also to reduce expenses. At a minimum you should Make Vacant Spaces as Rent Ready as possible so the new Buyer can spend their time and money after closing securing new tenants. Very few buyers will buy “Potential Income” so be prepared to provide documentation of your properties current performance. Your Commercial Real Estate Broker will be able to assist you with putting a strategy in place to assist in Getting the Numbers up, if needed.
Provide Buyers a Well Prepared Easy to Read Offering Package | Think about this…no matter how well your property is performing, or how great its potential is, If You Can’t Communicate How Well Your Property is Performing to Prospective Buyer’s, it’s the Same as if Your Property Isn’t Performing at all. Be aware that the Number One Factor in many Commercial Sales Transactions is Timing. Make it easy on your Buyers to analyze and assess your property right up front. If your Asset is not for them…OK…you want to know this right away…so you can find another buyer without wasting 30-45 days on a Failed Feasibility Period. Your Commercial Real Estate Broker is the best resource for you here. They subscribe to any number of Professional Realty Services & utilize the Latest Technologies. This allows them to compile area specific data along with your property specific financials to produce a Truly Stunning Visually Appealing Content Rich Offering/Marketing Package which allow Prospective Buyers to Efficiently & Effectively Assess whether your property is right for them.