Commercial real estate. We rarely talk about it, but it’s kind of a big deal. It is estimated that commercial real estate in the US is worth approximately $5 trillion. That’s a lot of scratch! The NAR Commercial Real Estate Quarterly Market Survey released in July revealed that both sales and leasing activity are on the rise, showing significant improvement from the previous year.
If you’re a dedicated commercial real estate agent – or a residential agent thinking about trying something new – here are some commercial real estate listings tips that will help you best advertise your listings, whether you post them on the MLS (and syndicate to portals like PropertyShark and Homes & Land), LoopNet or elsewhere.
The key to commercial real estate listings is to be clear and concise, ensuring that you include every asset. Unlike residential real estate, a market in which some agents write creative listing descriptions, this is no place to encourage the reader’s imagination to take flight. People have important business criteria to meet when choosing a commercial property for sale or lease so… just the facts, ma’am!
- Include accurate details of all structures on the property. Note the square footage, full dimensions, number of bathrooms, etc. Is there dedicated office space, retail space or meeting areas? How about any loading bays or warehouse space?
- Detail the exterior space, including a mention of parking availability. If there is landscaping, it’s important to include a brief description of that, too.
- Provide location details, making mention of neighboring businesses and nearby roads. Even though some of this may seem obvious to you and locations can be easily searched on the internet, out-of-the-area investors will appreciate being able to get this critical information off the bat, right from the listing.
- Share previous uses of the space and any success stories you may have. You might consider sharing information about foot traffic, gross income and area demographics.
- List any fixtures or equipment that may be included in the sale or up for negotiation.
- Know your zoning! State what you know about both the property’s zoning and the zoning of nearby areas. This is something a commercial real estate agent should be well-versed in.
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