Commercial real estate can be a very valuable investment. However, in order to get the most return on your Lafayette investment property, there are some steps you should take to raise the value prior to selling, There are a lot of things you can do to increase the sale value of your property, but you want to make sure that anything you do has a high return on investment. Here are our five tips to get the best price when you sell your commercial property.
Add Some Curb Appeal
The interior will close the sale, but the exterior of the building will make the biggest impression. Most commercial property buyers are looking for properties that reflect their brand identity. Offering buyers an attractive property, will help them envision their business in the space. Sometimes adding curb appeal is as simple as adding a fresh coat of paint and doing some minor landscaping. These small changes can make a huge impact on the closing price of your property.
Find Comparable Properties In The Area
Check out comparable properties in the Lafayette area and look up their price and what amenities they are offering. Once you understand the other available properties, you can begin strategizing what features will give you a competitive advantage. Comparing other properties will also ensure that you don’t undervalue the price of your property.
Get An Appraisal
A commercial property appraisal does two things. First, it helps you understand the real market value of your property. Secondly, professional appraisals help you identify any of the features of your property that are driving down the overall price point. Once you know what these issues are, you can begin addressing them. For example, loose roof tiles can cost you thousands on your asking price, but may only be a few hundred to fix. If you’ve never had a professional commercial property appraisal done, this article from Inc. has a good overview of what to expect.
Make An Attractive Listing
One of the ways that you will get the best value is to get as many offers as possible. To get multiple offers, you need to generate a lot of interest. One of the best ways to pique buyer interest is with a stunning online advertisement. Hiring a professional photographer to shoot your property in the right lighting and writing concise, descriptive copy for your ad can attract the interest of a lot of buyers.
Work With A Talented Agent
The agent you work with can make all the difference in your price. A knowledgeable agent will understand what sells in the Lafayette area and what buyers are willing to pay a premium on. This knowledge can help you develop a strategy to increase the value of your property prior to selling. A skilled agent will also have a strong client base and can help you get multiple bids for property.
If you are ready to sell your commercial property in Lafayette, talk to the experts at Titan Lafayette Real Estate. These are just some of the tips that we offer to help you get the best possible sale price. Give us a call today to learn even more tips and sell your commercial property fast!