Selling Commercial Space in a Down Market

In recent months, Chatham-Kent has received several positive signs that our local economy is beginning to rebound. With that in mind, real estate owners looking to sell commercial properties in Chatham-Kent, are now attempting to more aggressively market their commercial spaces. How do your effectively market and sell a commercial property in a down economy? Great question. It takes a little creativity, and a lot of hard work from your Chatham-Kent realtor.

So how can you set your property apart? How can you make potential business owners and companies choose your property? Well, it's actually not much different from selling your home.

Here are a few tips to help you and your Chatham-Kent real estate agent can use to gain the edge and captivate the commercial real estate market:

  1. Stage your commercial property: Good staging for your Chatham-Kent commercial property allows potential buyers to envision their business succeeding in your space. If you're selling an office space, it's important to show what the reception, personal offices, and common employee areas could look like. You don't have to buy brand new desks for every room or leave old deteriorating office furniture around, but you need to show how things could look and to spark the imagination of potential buyers. Obviously, with a large factory or warehouse, this could be impossible, but if you neglect to show off your assets, your Chatham-Kent property could go stale on the market.
  2. Host an event or open house: The term "open house" does not just apply to houses. Talk to your Chatham-Kent realtor and discuss an open house for your commercial property. Open houses allow potential investors, other local businesses, and out of town companies to visit your property and ask questions. If you want to be even more creative, use your empty space to host a community event. Why not welcome a Chatham-Kent "Business After Hours" or donate your space to a local fundraiser. Getting people through the doors to see your commercial property is half the battle. You never know what business connections those visitors might have.
  3. Maintenance is the key: Commercial properties in Chatham-Kent that sit vacant for an extended period of time are often not cared for and deteriorate very quickly. If you can't do it yourself, hire someone to cut the lawn, clean the indoor space, and to generally keep the property looking cared for. The last thing you want is dust piling up, rodents invading, and vandals targeting your business because it looks abandoned. Whether you're selling a home or a commercial property in Chatham-Kent, curb appeal that shouts, “welcome, this is a safe and professional space” will move your property.
  4. Do good things in your community: This one might sound strange, but there is a definite correlation between the attractiveness of a community as a whole, and the sales of commercial properties. As you wait for your Chatham-Kent property to sell, be proactive within your community. Volunteer with local organizations, donate your time to a fundraiser, join an economic development team, or collaborate with other businesses. The success of the community of Chatham-Kent is directly related to the success of your businesses, which is directly related to the successful sale of your commercial property.
  5. Continue to network: Most Chatham-Kent businesspeople are active networkers at events and in the community. If you're not a networker, it's time you start. Either way, as you network don't forget to plug your commercial property. The majority of home sales made by Chatham-Kent real estate agents are done via their former connections with other agents and former clients. As your Chatham-Kent real estate agent works for you, take the time to work for yourself. Continue to grow your community connections and make new connections beyond your local market. You'd be surprised how many commercial property sales stem from close relationships between business professionals.

There you have it. Buying and selling commercial properties in Chatham-Kent takes special care, dedication, and hard work. In the end though, it is all about presentation and proper marketing. If you need help selling your Chatham-Kent commercial property, or would like to purchase a commercial property in Chatham-Kent, feel free to Contact Me or give me a call at 519-360-0141.