Do you think selling your commercial property yourself really save you money? Really?
Going down to the local Walmart and buying one of those little red and white for sale by owner signs may work ( I would still recommend help from a residential real estate professional ), to sell a house. But that little red and white for sale by owner sign will be even less effective with a commercial property.
A commercial property is not a house, just think about it, I bet 100% of the people you know have a strong desire to live indoors ( you can’t get a bigger market than that). The percentage of people you know that have a strong desire to buy a commercial property is, wow, unless you are in the commercial real estate business, you likely can count them all on one hand.
Target marketing is required to successfully market a commercial property, mass marketing , like you do with houses for example is not enough, because the masses have no need.
I talked to a nice gentleman the other day that had put one of those red and white for sale by owner signs in the window of his commercial property. After a year and a half, all that has happen is the phone number he wrote with a black marker on the sign has faded, to the point it is difficult to read.
He didn’t seem to be concerned about the the building being unsold and vacant for over a year and a half, after all it is paid for so it wasn’t costing him anything to sit there, right.
What about taxes? What about insurance? Oh that’s true, money going out and no money coming in, sounds more like a liability than an asset! That may be a reason to pay a commission to have the building actually marketed by a commercial real estate professional.
Let me know how I can help you with your commercial property needs.
This information is for informational purpose and not intended to be investment advice, and should be explained to you in detail. You should always feel free to consult an attorney and/or tax adviser to obtain further information you deem necessary. I want you to be prepared.