Owning commercial real estate for sale is a privilege, yet it can also become a huge responsibility when you sell it. Unfortunately, most owners lack the experience and knowledge to sell real estate.

For instance, you need to compare various price points and ensure there’s a balance between having a competitive yet profitable price. Remember, your main goal is to sell your property for a favourable price and look into the possibility of either buying more real estate or investing the money in other ventures. One wrong figure can make or break your return on investment. That’s why knowing more about the property selling process is of utmost importance.

This article will discuss the three most common mistakes commercial property sellers make. Take this as your starting point to ensure you can avoid these pitfalls, allowing you to present your listing in a way that best represents your ideal buyer.

Mistake #1: Failing to Know Why Prospects Want to Buy or Sell Commercial Property

Before you sell your commercial property, you may already have preconceived notions about the typical buyer, allowing you to spark relevant conversations towards selling your real estate. However, the problem with this approach is it’s only looking into the buying perspective, which is just one side of the conversation. But why exactly would a prospective buyer want to buy your property just to sell it again?

The truth is the commercial side of real estate is a huge, profit-producing business. If they collect more properties for sale, especially those nearby, it can build their reputation as professional real estate investors. It can also be a way to transform multiple lands to service a corporation’s wishes to scale their operations by having a monopoly on viable locations.

As such, it’s best to always note your buyer’s intent of purchasing the property, giving you the chance to present your real estate as a worthwhile asset. It gives you the chance to sell your property quicker, expand your connections in the commercial market, and look into the possibility of being a real estate investor.

Mistake #2: Having No "Property Story" Ready

Every commercial property has a special story worth telling, especially to buyers. Remember, you are essentially marketing your product to them, so if you don’t sound enthusiastic about it or have a boring pitch, it can lead most prospects to ignore you.

If you are confused about how to craft your property story, just remember to go beyond the typical opening line for selling, like listing the technical features. You can talk instead about how you first came across the commercial property and share its intended purpose, like if it was supposed to be a restaurant or a property that was handed down in your family for generations. Don’t forget to include any distinguishing characteristics, like included assets with the purchase. For further guidance, it’s recommended to consult with a real estate professional to go over some marketing pointers.

Mistake #3: Resorting to Independent Selling Without a Real Estate Agent’s Assistance

You may be looking into selling the property yourself since you believe you have the connections you need. While you may have the capacity to do it independently, the point here is you can miss out on valuable real estate tools and services to boost your commercial property’s value across various interested buyers. You may even get the chance to see it for higher than you were offered.

With the professional assistance of a real estate agent, you have access to their Multiple Listing Service, an innovative platform for more agents and buyers to hear about your property more than you would by simply putting it on the Internet. You can also get relevant information about any buyers’ trends, giving you the opportunity to meet demands and maximize your sales efforts.

Conclusion

If you are selling your commercial property, you may make some mistakes, causing prospective buyers to take advantage of your inexperience. Fortunately, you now have a much-needed awareness of what you shouldn’t do. Just remember all the common errors mentioned above, identify with the right professional to help you, and make informed decisions based on research and real estate market-relevant information.

Are you looking for the best real estate agent in Brandon and Virden to help you sell your commercial property? Consult with me, Chris Low. I am well-versed in helping many clients buy or sell their residential and commercial properties. Talk to me today to set the appropriate price for your real estate!

If you’re thinking about selling your farm to reduce your responsibilities, earn more money, or relocate, now is the time to do it. The housing market has been doing incredibly well recently despite widespread uncertainties caused by the pandemic, which gives you a golden opportunity to put your farm up for sale.

Additionally, rural real estate investors and low-interest rates make small farms even more valuable, especially as subdivision developments continue to rise. Now that most people are working from home, they’re now considering moving farther away from the city, making farms for sale like yours even more profitable. Here are four easy tips for selling your farm:

1) Work With a Real Estate Agent

Once you’ve decided to sell your farm, you’ll need to work with the best real estate agent to create your listing and make sure you include all your property highlights. It’ll take a few days or weeks to complete your listing since you’ll have to do a thorough search of your property to familiarize all the essential details and features the listing must disclose. These include known defects, easements, water and mineral rights, and other crucial information. A proper real estate agent can also carry out a comparative analysis of sales prices on properties like yours to help you come up with the right price.

Real estate agents will help you pinpoint the unique qualities of your farm and take care of the paperwork that comes with selling it. They can also look for property photographers to take attractive pictures of your farm and write an attention-grabbing description, which is sure to draw potential buyers to your doorstep. With these real estate professionals by your side, selling your farm will become less stressful!

2) Consider the Timing

You may have heard that the best time to sell your farm is during the summer, although this highly depends on where you are relocating when selling your farm. Additionally, the housing market can also grow dull in the summer depending on circumstances, so it’s crucial to think about the most strategic time to sell your property.

It’s vital to consider your farm animals as well. If you own a few horses and you have a contact who is willing to board them while you look for a new property, then you can shop around after selling your farm. However, if your menagerie consists of many different animals, you’ll need to craft a solid exit plan to ensure their care while accounting for the best time to sell the property.

3) Craft a Contingency Plan

Every farm comes with its own set of quirks that you’ll need to address in the sales contracts through a contingency plan. This clause is often written into real estate deals that provide parties with the right to exit their contract under concrete, specified circumstances that both the buyer and seller agree on, protecting both parties from future problems. A real estate agent can also assist in this area.

4) Stage Your Property

Lastly, you’ll need to stage your farm and make sure you showcase its highlights and qualities to interested buyers. This process is similar to staging residential properties, although this will be a bit more challenging since you’ll also have to factor in your farm animals and equipment. However, to make it easier, a real estate agent will offer you a to-do list that will beautify your farm, improve its value, and make it look more appealing for interested buyers. These may involve inexpensive fixes.

Conclusion

When it’s time to move on from your farm, you’ll need to work with a real estate agent to prepare it for the market. Real estate sales can move faster than expected, so it’s crucial to iron out everything to make sure it’s ready for showing. By following these tips, you’ll have a smooth experience in selling your property.

If you’re looking for farms for sale, let me know at Chris Low! I’m the best real estate agent in Manitoba that works with clients to buy and sell residential, commercial, and farm real estate. Contact me today to find out more about how I can help you sell your farm!

The real estate industry is all about judging a book by its cover. This is why the first step to creating a noticeable listing is to curate a compelling visual portfolio online. With the expansive range of digital marketing, your professional real estate photos can attract prospective buyers to visit your home.

However, the images you curate won’t always be close to what they’ll see. Since photographs don’t display the full scope of your property, you may have worked your way around rearranging furniture here and there. To prepare for a good open house, you need to ensure that every corner of your home looks as good as your photos from all angles.

Setting Your Home Up for Success

There’s a vast difference between promoting your home listing online to showcasing it in person. Open houses are more intimate interactions between prospective homebuyers and the property they’re inspecting. For this reason, you need to clear any distractions that could prevent you from winning them over.

In this article, we’ll share three things you need to double-check before putting your house for sale.

1) Cleanliness and Orderliness

Like having guests over to your home, it’s best to prep your interiors to be as neat as possible. This includes sweeping the floors and vacuuming your carpets. Keep in mind that some homebuyers are more sensitive to dust and allergens than others. For this reason, you must accomplish your cleaning task at least a few hours before your appointment with prospects.

Besides maintaining cleanliness, don’t forget to make things orderly indoors. This means removing personal items or trinkets like family photos. If you want to keep your frames hung, remember to replace your pictures with stock photo placeholders. This makes it easier for guests to imagine themselves living in your property and not as visitors to another’s home.

2) Proper Lighting

Daytime showings need to highlight how much natural light your home can offer. If you have a fully furnished home, use this opportunity to feature the effect of your furniture with light sources. Mirrors and metallic furniture can do wonders to expand the feel of your interiors.

Displaying how your home will look in nighttime conditions will be a vital factor for home buyers. If your showings are after dusk, make it a point to turn your exterior lights on for your scheduled guests. This isn’t just a safety concern but also a way to highlight the marketability of your home.

3) Garage and Lawn

Most homeowners keep their focus on curating an organized tour inside the home’s different rooms but forget to attend to the garage and lawn. These two areas can be the most important selling point of your property. This is why you need to trim your greenery to be as presentable as possible. Additionally, your garage needs to be clear of any junk. Remember to keep a list of these areas’ dimensions for your buyers’ reference. It’s also helpful to bring your own measuring tape for their convenience to simulate the placement of their vehicles and other equipment.

Conclusion

Putting your home up on the real estate market is a brave move that not many homeowners are willing to take. Nevertheless, it’s a natural progression of earning your keep from paying your mortgage and moving on to a better living situation. Thankfully, you don’t have to go through the entire home selling process by yourself.

Many amateur and veteran homeowners can commit crucial mistakes in selling their homes. For this reason, I make sure my services can guide my clients through the process of making a secure and efficient sale. If you need a capable real estate agent from Manitoba, I'm the right person to call. Contact me today at (204) 573-5699, and I'll ensure that your home selling worries will be a thing of the past!

A home seller’s market is a matter of economics where inventory is low and demand is high. Unfortunately, this leads to some homes being on the market for only hours with competitive bidding. When buying a house, this cut-throat competition can put you in a bidding war that you can’t always win. The following tips could help you gain the advantage you need to compete among other buyers.

1) Determine Your in a Seller’s Market

This is the first step you should take to make the necessary preparations to compete in a seller’s market. Knowing you’re in it will help you adapt and shape your home buying strategy to better fit the current market conditions.

You can easily do this by using a market absorption rate calculator, which tells you how many months it would take to sell all the remaining homes or inventory for sale in a given area. Getting a low number means you’re already in a seller’s market. Once you’ve determined you’re in a seller’s market, you can get advice from a real estate agent on the next course of action to take.

2) Make Your Best Offer First

In strong seller’s markets, it is recommended that you make a list price offer quickly to prevent competitive interest. There’s a chance that the seller’s agent is already happy to get their price instead of getting an extra few thousand dollars from multiple buyers. That process alone can take up considerable time and effort, and they only get very little compensation from it. You can take advantage of the lazy seller’s agent and close a deal fast, which is exactly what most agents want in the first place.

3) Get Ready to Bid and Pay More Than the Asking Price

Posting your offer quickly doesn’t always work, but it’s worth a shot. When it does fail, and you get competition for the house you’re aiming for, be prepared for it to not be your final offer.

Home buying activity in a seller’s market is hot, and it will likely just get hotter as more buyers compete for the same house. This can make it harder to lock in a deal, so don’t expect to get a discount any time soon. In fact, it’s quite possible that you’re going to pay a bit more than the asking price. However, if you’re really determined to get the house, then bidding is the only way to beat the competition.

4) Counter Offers Are Rare

While we mentioned the possibility of bidding, sellers don’t always consider it. They can easily just pick the best price out of all the offers they’ve received, even if they got more than 12 offers at once. So there may not be a chance to give a counteroffer, but if you happen to see an opportunity to give one, then you should take it and give a better offer. However, as a buyer, you really need to put your best offer on the table the first time so you can have a higher chance of winning the house.

Conclusion

Competing in a seller’s market can be exhilarating and frustrating at times. But there’s no reason to get discouraged since getting the house you’ve always wanted, despite the market conditions, is worth the trouble. With the right amount of preparation and patience, you can make a few good moves that could help you land the house of your dreams.

Whether you’re buying or selling a home, Chris Low is here to help you. He is committed to going the extra mile to ensure that all of your needs are successfully met in a professional and honest manner. Whenever you need a reliable real estate agent to work with, don’t hesitate to contact Chris Low Realtor®. Give him a call today to get started!