Commercial properties — 5 simple sales hacks
Selling a commercial property can sometimes be trickier than shifting residential real estate.
Some of the same principles apply. But when you’re trying to convince a battle-hardened businessperson to part with their cash, your preparation and powers of persuasion will have to be on point.
If you’re struggling for inspiration, here are five simple sales hacks for commercial properties.
If your potential buyer doesn’t have time to view the property in person straight away, perk their interest by sending them the right media.
For example, if you invest in a 3D tour from a firm like Matterport, it can be emailed in seconds and enable your buyer to take a virtual walk-through in a couple of minutes.
This type of tech increases engagement and might even secure snap-decision sales from high-intent investors.
Preparing a buyer pack is a no-brainer if you want to close a deal quickly on commercial real estate.
It should include info on price, location and suitability and details of planning permission, business rates and stamp duty land tax, a commercial energy performance certificate and an asbestos certificate, if relevant.
Having this information at hand allows buyers to make an offer in confidence.
Once the buyer has expressed an interest, you’ll need to provide an up-to-date survey which confirms the current condition of the property.
Without this information, the buyer won’t be confident that the building is in the same state of repair as advertised and they’ll need it to pass on to their commercial property mortgage provider.
You can find recommended commercial surveyors on the RCIS website — pick one that satisfies your requirements.
If your buyer starts to swither over whether they’re making the right decision, you’ll have to step in and convince them subtly to stick to the plan.
So remind them they’ll benefit from the steady cashflow generated from long leases, that established commercial tenants are often more reliable than their residential counterparts and that they might grow their investment considerably if the property’s situated in an emerging business location.
Providing reassurance doesn’t mean applying pressure — it’s simply furnishing customers with friendly advice.
When a client arrives at a prime property for a personal inspection, there’s nothing more off-putting than the place looking like a right royal mess.
And if it’s so unkempt that it barely resembles previous pictures or videos, you might even be accused of false advertising.
So buy an attractive entrance mat from a supplier like Kleen-Tex to create a presentable first impression and hoover, dust and polish all other areas thoroughly.
Sometimes tough tasks like selling a commercial property are made more complex when we over-think them — that’s why these five simple sales hacks will help you pitch your real estate to any investor.
That’s our list! Add your own sales suggestions in the comments section.