If you own commercial real estate in Oklahoma, you will want to be aware of the best way to sell commercial property. Even if you employ a real estate broker, you should know what techniques they will use to sell, and how each step will help you capitalize on your investment. Here is how to sell a commercial property.
How to Sell Commercial Real Estate
The Market – Before listing any commercial real estate in Oklahoma, make sure you understand the market. The trends in commercial real estate are different than they are for residential. Since your property generates revenue, the money it makes plays a vital role in the market value. Other factors include location, age, condition, etc.
The Network – Networking is the best way to sell commercial property. Friends in the industry are likely to know people who need a space like yours. A strong network will help bring the right buyer to you.
The Zoning – Be aware of all zoning laws, particularly potential changes. Failure to meet requirements will result in fines, and you want to attract buyers who fit the zoning criteria.
The Appraisal – If you are familiar with how to sell commercial real estate, you understand that the inspection is done before an appraisal. The appraiser will also need property tax bills or income statements from you. The information is then used to create a final report.
The Advertising – Use tried and true advertising methods such as flyers and brochures. Your buyers need all of the important details in any information that you send out to them. Additionally, make sure that people can find your properties online. More and more buyers are doing their research on their digital devices to narrow down their choices. You cannot afford to miss the virtual market.
Of course, this list is simply an overview of ways to sell a commercial property. When it comes to selling commercial real estate in Oklahoma, no one knows how to sell a commercial property better than a professional. At Horizon, we are ready to take on the work for you and ensure that the process goes as smoothly as possible. Contact us for more information.