Some of the best ways to sell commercial real estate are the simplest. Often, these sales involve large sums of money. Moreover, local, state, and federal governments try to collect taxes whenever possible. In order to gain the maximum benefits from selling your property, consider your goals.
- Is the property a money pit? You may want a fast cash offer to pay off debts.
- Do you want to reinvest in a different property?
- Is retirement on the horizon? It may be time to cash out and invest in your future.
An accountant can help you map out and manage your plan and profits. If you need a quick cash offer, though, it’s important to weigh your options.
#1 Work with a Broker
A broker is a licensed real estate agent who specializes in commercial property. They help clients buy, lease, or sell properties. Generally, they have a degree in either real estate or finance to inform their processes.
One of the main challenges in commercial real estate sales is the accurate valuation of properties. Commercial brokers should have firsthand knowledge of the market you’re in.
Additionally, they should have an idea of what similar properties sell for across the Greater Houston Area. This helps you set an asking price that isn’t under the value of the property.
#2 Sale By Owner
Private sales allow property owners to pocket a bit more money. Without a broker, you have the potential to save roughly 4-8% of the profits.
If you already know a potential buyer, sale by owner is a great choice. For instance, one landlord might know another operating in the same area. That other landlord might ask them to reach out whenever they decide to sell. That familiarity sets the process up to be as simple as a phone call.
Unfortunately, commercial property sales aren’t that simple. What you don’t know has the potential to hurt you. Seemingly small mistakes can wind up costing you what you hoped to save.
#3 Sell to a Cash Buyer
Commercial real estate cash buyers are one of the best ways to sell commercial real estate quickly. They often form companies that buy properties for cash with a straightforward process. In order to do business, they must have quick access to large sums of money.
When property owners want to sell fast, cash buyers are an excellent option if there’s no buyer hovering around nearby. Additionally, investors often buy properties in need of repair and handle those costs themselves.
Ready to Sell?
Now that you know some of the best ways to sell commercial real estate, you have a clearer idea of your options. As you think through your decision, it’s important to know that Empowered Equity makes no-obligation cash offers. If you want to know the potential value of your property, contact our team today.
Like the offer? We can move forward. If you want to look for a different option, we part ways with no hard feelings. At Empowered Equity Commercial Investments, we believe in treating people with dignity and respect.
To learn more about our process, contact our team today.