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selling property for top dollar
7 stage plan of action
Naturally, everyone selling an investment property wants the highest dollar possible from the sale. What that dollar amount will be depends on four core factors: condition, advertising, location, and market comparables. As a seller, understanding the market and looking at your property through a buyers eyes will keep you from forming unrealistic expectations and help you make wise decisions in pricing.
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The first step toward selling your property
is appointing a trustworthy agent.
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preparing your property for the market
The second step toward selling your property is positioning the asset to net you top dollar.
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composing a marketing campaign
The third step toward selling your property is letting the world know it’s for sale.
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showtime
The fourth step toward selling your property is providing access to prospective buyers.
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when offers arrive
The fifth step toward selling your property is receiving and negotiating offers is appointing a trustworthy agent.
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keeping the deal alive
The sixth step toward selling your property is managing the escrow properly.
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closing the deal
The seventh step toward selling your property is closing the escrow.
AARE Agents
Making the difference
Honest, Ethical, & Trustworthy Real Estate Agents, Brokers, & Property Managers
© Andrew Arroyo Real Estate Inc. doing business as AARE, a licensed real estate broker, and Ensure Lending, a licensed loan originator.
STAGE 1 – Finding The Right Agent
The first step toward selling your commercial property is appointing a trustworthy agent.
– Check references
– Read reviews and testimonials online
– Ask agent to provide evidence of past sales
– Ask agent what the average market time to sell a property like yours has been
– Choose a commission structure that works for you
– Add an easy exit listing cancellation clause to protect yourself if your plans change
– Review the agent’s marketing plan and verify a strong online presence
STAGE 2 – Preparing Your Property For The Market
The second step toward selling your property is positioning the asset to net you top dollar.
– Design a custom marketing plan to sell your property
– Analyze properties that have recently sold to determine the right list price
– Organize a list of modifications to enhance the showing of your property
– Coordinate with contractors to enhance your property if necessary
– Hire a professional staging company to enhance your property
– Consider renovating your property before you sell to net top dollar
– Order an inspection and preliminary title report
– Complete and sign all disclosures regarding your property
– Review disclosures with a professional to ensure accuracy
The third step toward selling your commercial property is letting the world know it’s for sale.
– Photograph your property
– Select the top 25 photographs that best showcase your property
– Create a virtual tour slide show
– Write remarks about your property
– List your property with the top ranking websites with high internet traffic
– Create a full color brochure for your property
– E-mail local agents a copy of your listing
– Place a sign in the front of your property, if allowed
– Place additional signs in the area directing potential buyers, if allowed
– Place a lockbox on your property to provide access to agents and buyers, if appropriate
– Place your property in the Co-Star database, the commercial Multiple Listing Service
STAGE 4 – Showtime
The fourth step toward selling your commercial property is providing access to prospective buyers.
– Contact top local buyers agents
– Contact investors regarding your home
– Provide as much access as possible to encourage buyers to make offers
– Hold open houses if appropriate
– Follow up with all agents that show potential buyers your home
STAGE 5 – When Offers Arrive
The fifth step toward selling your commercial property is receiving and negotiating offers.
– Ensure the buyer is well qualified by researching their financial information
– Follow up with buyer’s lender to ensure buyer can obtain a loan to purchase
– Review offers to purchase your commercial property and examine the terms in detail
– Negotiate the highest price and best terms acceptable to both parties
– Negotiate other terms on a counter offer to the buyer’s original offer
– Contact interested buyers to encourage multiple offers
– Obtain binding signatures on the purchase agreement to secure the deal
STAGE 7 – Closing The Deal
The seventh step toward selling your commercial property is closing the escrow.
– Schedule the time to do any termite work and other repairs that were agreed upon
– Sign additional escrow paperwork that you receive in the mail
– Sign the grant deed with a notary at the escrow company
– Notify the tenants about the change in ownership
– Clean your property to turn it over in the best possible condition
– Arrange a final walk through with the buyers a few days before the close of escrow
– Arrange for the keys to be given to the buyer or buyer’s agent
– Receive your money upon the close of escrow by mail or wire transfer
