Listing a Commercial Property? Don’t Make These 5 Common Mistakes!
1. Setting the Wrong Price for Your Commercial Property Listing
One of the biggest mistakes when listing a commercial property is pricing it incorrectly. Pricing too high can deter potential buyers, causing the property to sit on the market for too long, while pricing too low can result in lost revenue. The key to setting the right price lies in conducting a thorough market analysis. This involves comparing similar properties in the area, analyzing current market trends, and considering the unique features of the property. Skipping a professional valuation is also a critical error. Hiring an appraiser to accurately assess the property's market value ensures it is priced competitively. According to real estate experts, setting the right price from the beginning is crucial for attracting serious buyers and avoiding price reductions later in the commercial property listing. (Scalley Law) (Blanchard and Calhoun)
2. Poor Quality Photos and Descriptions in Your Commercial Property Listing
The presentation of your property is essential when listing a commercial property. Poor-quality photos or weak descriptions can severely limit interest. First impressions online are crucial since most buyers will first view the property on listing platforms. Using professional photos and writing detailed, informative descriptions can make your listing stand out. High-quality images that showcase the property’s best features and an engaging description that emphasizes key selling points—such as location, square footage, and unique amenities—are critical when creating an effective commercial property listing. (Commercial Consult) (Blanchard and Calhoun)
3. Failing to Highlight Zoning and Permits in Your Commercial Property Listing
When listing a commercial property, it's essential to provide detailed zoning information and necessary permits. Buyers need to know whether the property fits their intended use. Neglecting to include this information can lead to confusion, wasted time, and even losing potential buyers. Make sure the zoning regulations are clearly mentioned in the commercial property listing, especially if the property has flexible zoning that allows for multiple uses. This can broaden the appeal of your listing to a wider range of buyers (Commercial Consult) .
4. Neglecting to Market Your Commercial Property Listing on Multiple Platforms
Another common mistake when listing a commercial property is limiting your marketing to only one or two platforms. In today’s digital age, using multiple online platforms, social media, and email campaigns can greatly increase the visibility of your listing. The more places your property is visible, the more potential buyers you can reach. Successful commercial property listings often include a multi-channel approach, from commercial real estate websites to industry networks. A well-rounded marketing strategy ensures the property gets seen by the right audience. (Blanchard and Calhoun) (Scalley Law)
