What to Do to Find Cheap Commercial Properties

Every real estate buyer wants to find cheap commercial properties. They call a cheap property they acquire a “bargain”, but what these buyers should know is that there are sellers who put “cheap” in the selling context to attract buyers and the truth is that the property isn’t really a “bargain”. So, as a buyer and investor you have to look beyond the price tag.

When buying commercial property deals, you need to plan carefully and understand what you are getting yourself into, because a bad property is no bargain even if it’s cheap. Just so you know, a successful commercial property acquisition is both complicated and time-consuming that’s why if you are new to this business venture and has no experience at all, you should consider hiring a commercial property agent.

There are things that you have to consider for you to find cheap commercial properties, and they are,

1. Understanding what the word “cheap” means in the home for sale context. Do not easily fall into this kind of advertisement. To be able to understand this, you must remember that a commercial property is an asset whose value is closely linked to how much income it can generate most commonly in the form of rental fees by tenants. For a better understanding of this, a property is cheap only if the generated income has exceeded the amount it cost you upon acquiring it and has exceeded the money it cost you when it started to operate.

2. After you understand the meaning of the word “cheap” in a commercial property for sale context, you have to think of what property you really want to acquire. Remember, there are different types of commercial property. You have to find what property type you will be specializing in. You cannot just buy anything and everything you see. Nobody, not even the most real estate expert is an expert in every real estate property type. Every property type is different from the other that’s why you cannot go into two or three types.

3. Plan ahead and manage your finances. You wouldn’t want to be in trouble in real estate business. Yes, you can make huge profits in this business, but you can also lose big time, so plan ahead. Decide for everything that is necessary even before you hit the market. Also, identify the range of property prices that you will be willing to buy.

4. Talk to the seller. If you have a commercial property agent, he can be a great help when it comes to negotiating the price with the property seller. If you have the best agent, the greater the chance of getting the property at a cheap price.

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Commercial Realtors – Advertise Commercial Property the Right Way

Today we have many types of commercial and retail properties to advertise. As part of that process we have a limited amount of people that can act on the sale or lease as buyers or tenants. On that basis every property has to be optimised for advertising and marketing. Generating enquiry from your marketing and then converting the enquiry to a realistic offer is really important.

When the property market slows or gets tougher, the buyers and tenants are still out there, it’s just that they are slower to react and have a set of criteria that must be satisfied before they sign up on the property. This is where we as agents and salespeople can bring real expertise to the client and help move that property faster given all of the prevailing market conditions.

We should market ourselves as the experts that can bring in the results. Our listing presentations and sales pitch should be built around those facts and show the client exactly how we can solve the property problems quickly and effectively. Experience really matters today when it comes to moving a property for a client.

So the concerns to be satisfied in marketing commercial or retail property today should include:

Attracting the target market that will pay the best price or give the best rent for the property

Motivating the buyers and tenants to call you and arrange to look at the property in an inspection on site

Encouraging offers for the property, either for sale or lease as the case may be
Advertising of property today has to be quite specific and well planned. Every dollar spent on advertising should be part of specifically designed campaign that is attracting the right people to the property given the location, improvements, and the range of asking price or rent.

To do this effectively advertising strategies can be designed for your location and property type. Here are some ideas to help:

Most enquiries on advertising a commercial property come from the local area. A significant part of your budget and campaign should be devoted to the local businesses in the general location. It is best to contact local businesses personally as part of that process.

Property investors are a good source of activity when it comes to selling a property. Review your database from previous campaigns to revisit people that did not make an offer or who were unsuccessful.

In a standard business week, the bulk of property enquiry comes in between the days of Wednesday to Saturday. Most of your marketing should be dedicated to these days of the week.

Personal contact remains the most important component of property marketing today. If you have listings on your books, then you have a reason to talk to people. Every day you should devote a part of your day to doing just that.

Canvass the local streets around every listing personally. Do this to discuss property activity and to spread the word about your listings. It is remarkable just how much opportunity you can find when you do this.
Today you must advertise any property listing comprehensively. This can and only should be done with those clients that give you an exclusive listing. On that basis you can devote the time to the marketing process and generate the right type of enquiry. Vendor paid marketing funds are part of that process.

If a client gives you an ‘open listing’ that is listed with all agents in the local area, the process of marketing should only be random if you find the right type of enquiry.

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