The commercial property market can be a little dull. People in the industry take the view that they are selling functional “units” – spaces where work happens and little else.
This conception of the market, however, is missing a trick. Buyers of this type of real estate are still as partial to the “wow” factor as anybody else. They are still human, after all.
Are you trying to sell commercial real estate? Here are some tips that are certain to whet buyers’ appetites.
Step Into The Buyer’s Shoes
When it comes to the commercial property market, the deals can be large, and the buyers few and far between. For that reason, you need to be able to step into your buyer’s shoes and understand what it is that they want from a piece of real estate. There’s no point trying to flog an office to a company that wants to set up an oil processing facility. It’s just not going to work.
Please get to know your buyer first, learn what they want, and then make modifications to the property that will convince them that it is the right choice for them. Often you’ll find that making small changes to the facilities is much more cost-effective than seeking a new buyer.
Freshen Up The Interiors
Many people in the commercial real estate market take the view that they should sell generic spaces, sterilized of all personality, and allow the company moving there to put their spin on it.
The problem with this is that first impressions count. If the paint is peeling off the walls and the doors don’t shut properly, then it can hurt how buyers perceive the real estate. Under extreme circumstances, it can even mean that the sale falls through, even if the property itself is a close match.
The trick here is to give the entire building a facelift using commercial decorators. These guys come in, look for problem areas, and then address them with a good lick of paint. Often a small outlay can make a world of difference to your prospects of making a sale. Just like buyers in the consumer market, commercial reps want new spaces for their firms that require a minimum of effort and fuss to set up.
Do Something That Will Impress
The key to selling a piece of commercial real estate is to include something that offers the “wow” factor – something that is unusual but can add a tremendous amount of value to employees.
Take a fountain, for instance. It might sound like a small thing, but buyers will take features like these into account when deciding whether to part with their hard-earned cash. They imagine all of the weird and wonderful ways that they could put them to use, drive productivity and talent acquisition.
Selling commercial real estate is never easy, but when you take a proactive approach, you can instantly streamline the entire operation. You don’t need to spend a fortune either: targeted spending can make property shift fast.
