How to sell your commercial real estate property

As with residential real estate, commercial real estate has been growing in demand over the last few years and so have the prices. As a seller in a seller’s market, you’ll want to make sure that when you sell your commercial real estate property, you get the best deal. Here’s a quick guide to getting a smooth sale at the best price.

Steps to Locking Down a Commercial Real Estate Sale

1. Understand the market

   – Real estate has been on an incredible rise over the last couple of years, but trends by their very nature change. In Lake Chelan and Leavenworth, different factors will affect the sale price, availability of buyers, and documentary facilitation. To have a fair estimate of the market conditions, you need to know your market. To this end, it’s best to partner with an agent who specializes in commercial real estate in the location you’re interested in.

2. Have all your documents ready

   – Secure your title as soon as possible. To sell a CRE in Wenatchee or Cashmere, you must have the correct documentation. If you do not have a copy of your title, a real estate lawyer can help facilitate this but note that this takes some time, seven to 10 days, depending on the location. The documents you should also have included the environmental survey, which may be a requirement of some investors/ buyers.

3. Organize the property history

   – Buyers want to know what they are getting into. All pertinent work and maintenance details should be readily available in making a sale. Upgrades and replacement details, such as the history of the elevator, HVAT, and plumbing, should also be available. This may also include the profit and loss information, permits for alterations, copies of previous leases, and tax and billing information.

4. Work on marketing

   – Market yourself and the property; remember that only what is marketed can be sold. When creating a marketing campaign it is important your approaches and strategies be aligned. Part of a campaign should be the use of social media but ensure the content and messaging, as well as the level of engagement, is carefully taken care of.

5. Enhance the appearance

   – No need to renovate the entire project, especially if you’re out to sell, but you need to make an impression. Make the property presentable and undertake improvements that increase the value and functionality of the building.

Where to Sell Your Commercial Real Estate?

A seller can sell their CRE off-market or through representation. While off-market is possible, there are more benefits to having representation. With the right real estate firm, you have the potential to reap maximum benefits from the sale. Firms have a large network to leverage, extensive market knowledge, wide-reaching listing platforms, and negotiation skills to make sure you don’t leave money on the table.

As North Central Washington grows and areas such as Wenatchee, Leavenworth, Cashmere, and Lake Chelan gain popularity, real estate firms and property management teams like Coldwell Banker Cascade Real Estate can help you in your sale. Call today at 509.888.8887 or send an email here to find out more.