We can’t deny the fact that the real estate business despite of its challenging ordeals is quite a promising venture. With the right methods and effective management, this type of investments brings about good if not excellent returns. One of the key instruments to ensure that is through proper marketing efforts. So how exactly does one make a commercial property for sale marketable? What should you do to speed up the selling process?
First, you’ll have to prep up the space. This one is particularly obvious, a rule of thumb to say the least. You can’t expect a property to attract buyers and to be sold fast if it doesn’t look promising. Remember that this is a retail space. It’s for business. If it looks forlorn, unkempt and dilapidated then nobody’s going to give it a single glance. There are many ways for you to achieve this, the following for example.
- Update the walls. Paint is your safest bet here. Not only does it make the space look fresh and brand new but it also opens up the room. Make sure to choose neutral colors particularly white or beige.
- Clean up the curb. Buyers see the exteriors first. If the outside looks bad enough then they’re going to assume the same for the interiors and vice versa.
Second, perform repairs and maintenance. Replace any worn out fixtures. It would even be a particularly good investment if you update or fix the piping system and electrical wirings beforehand. Buyers would hate to buy an asset that’s got busted pipes and wires. That’s extra work on their part and a huge hassle too.
Third, know your market and target them. Retail properties depending on features, size and location are bound to attract different buyers. You have to know the category or profile of these buyers so you can target them well.
Fourth, advertise effectively. . It takes a great deal of knowledge and proper strategy to get your message across. Even a good retail property for sale will remain unsold if the people interested in it didn’t know that it was up for grabs. You have to make sure that word is out there. Investors are given varying forms of advertising medium. You’ve got traditional forms such as newspaper and magazine advertisements, signage, flyers and posters. There are digital formats such as websites (i.e singerviellesales.com) and banner ads or even social media. Of course, don’t forget about word of mouth