If you’re ready to sell your industrial property and you think you can handle it yourself, here’s what you need to know.
Understand the market
Understanding the current market will help you position your property to its best advantage. Feeling unsure about the current market? Chat with industrial real estate agents who represent properties similar to yours, and try to “feel out” where they think the market is headed. And consider whether your property could be used in more than one way to appeal to a range of potential buyers and industries.
Understand your target market
From investors to growing businesses, it’s important to know who might benefit from your property. Familiarize yourself with the businesses in your community, and their plans for growth.
Be clear on the right time to sell
While an active time in the market may seem like an obvious time to sell, a slow market can often mean an investment opportunity for new business ventures. As real estate prices fluctuate, it’s critical that you stay on top of the market so you can sell as the market swings in your favor.
Understand which improvements matter
Determine whether your property will sell as-is, or whether there are updates or changes that are necessary to make it ready for the market. It helps to know exactly who can execute any improvements you’ll need to make too.
Be clear on the ins and outs of selling
From the listing price to the many, many details that will require negotiation, it’s critical that you understand the finer details of selling your property. You’ll need to stay focused on the individual details as you move the transaction smoothly along.
Know how to market your property effectively
You’ll need an effective marketing plan that gets your property in front of the right audience. From listing services to billboards to trade journals, consider how you’re going to spread the word about your property.
Do your homework
Selling an industrial property is a complicated process, and it takes time. You’ll need to research everything from marketing to the local market to the contract, so be patient. Or consider this alternative suggestion – partnering with someone who does exactly that for a living. An experienced industrial real estate agent will handle all of these details for you, leaving you to carry on with business as usual. You’ll be kept updated in a manner that is easy to understand, and you’ll enjoy the benefit of your agent’s experience and expertise.
Questions? We can help.