How Do you Select Best industrial property and commercial business Buildings for sale in Johannesburg West?
[tag] is a specialist field. Not all property agents know enough about the commercial property market and the property type to do it well. Sellers in Johannesburg West should choose their agent with care.
The owners of investment property that want to sell their asset should carefully choose a real estate agent that is well versed in the market trends and the property type. That agent should also show a high level of current market share and success in commercial property in Johannesburg West over the years.
Selling commercial property is not an ‘experiment’ or an exercise in ‘hope and pray’. When undertaken correctly in any market situation by a skilful agent, a property will attract enquiry and a sale is possible. The result then sits on the client’s ability to accept the industrial property for sale market price and market evidence. There are always buyers out there; they just have to be found and the sellers need to be accepting of the market trends.
Interesting Facts About Industrial Property and Commercial Business Buildings for Sale in Johannesburg West:
Commercial real estate selling is a specialist field. Not all property agents know enough about the commercial property market and the property type to do it well. Sellers should choose their agent with care.
The owners of investment property that want to sell their asset should carefully choose a real estate agent that is well versed in the market trends and the property type. That agent should also show a high level of current market share and success in commercial property over the years.
Selling commercial property is not an 'experiment' or an exercise in 'hope and pray'. When undertaken correctly in any market situation by a skilful agent, a property will attract enquiry and a sale is possible. The result then sits on the client's ability to accept the market price and market evidence. There are always buyers out there; they just have to be found and the sellers need to be accepting of the market trends.
Selling a commercial property is a highly skillful process. The chosen agent and salesperson should bring all these skills to the property owner. In that way a property sale in any market and economic situation is far more possible.
The Difference Between Industrial, Retail and Commercial Real Estate
To sell or lease a commercial property as a real estate agent you have to tap into the target market and do it well. This says that you have to understand that target market in your location before you start the process of promotion. To define a target market is sometimes hard given the relative property.
Ask yourself these questions:
- What media will reach the target market in a direct and sustained way?
- What is the best time to promote the property to the target market?
- What is the capability of the target market to act and purchase the property at the moment?
- Why would the target market buy or lease such a property now or at any future time?
The internet today is playing a significant part in the promotion of property. It is cheaper but available to all in most marketing campaigns. It has a sustained promotional life and has the ability to capture enquiry for many weeks.
When the enquiry starts to come in, it should be captured and categorised. The value of a great database of buyers, sellers, landlords, and tenants is high in the operation of a real estate office. The more people you know the better the listings and enquiry will be. This is where a team of good salespeople all running an accurate database of well qualified prospects can make a significant difference in the market place.
Search for Commercial Real Estate Businesses For Sale Near Me in Johannesburg West
Investing in commercial real estate is entirely different than buying residential properties. Commercial properties are substantially more expensive and must comply with state and local zoning laws. Property owners must have appropriate permits and insurance prior to leasing space to tenants and include provisions according to the American with Disabilities Act.
Commercial real estate includes a variety of properties such as apartment buildings, condominium complexes, shopping malls, retail outlets, office buildings, industrial parks, and plots of vacant land.
When investors purchase vacant land the property must be inspected and approved before buildings can be erected. Property owners must obtain appropriate building permits through their county's zoning commission. Investors need to conduct due diligence to ensure properties are zoned for commercial use before submitting a purchase offer.
Leasing rates for commercial real estate is substantially higher than residential properties. Depending on the area, rental home prices hover around $5 per square foot, while commercial leasing prices can be $10 to $15 per square foot. Prices depend on the type of property, location, and facility use.
Buying commercial real estate can offer a higher level of profit than residential properties, but also carries a higher level of risk. Investors must take time to understand all aspects involved and partner with professionals who they can turn to for advice. Otherwise, they place their self at risk for foreclosure, lawsuits, and tenants who default on leasing agreements.
Commercial Property - How Do You List and Sell More Investment Property?
Not all commercial investment properties should be auctioned, but the auction method of sale does have real advantages if the property is just right and the market is accepting of that method of sale. Here is why.
The key governing factors to determine if auction is a real chance or choice for the property owner are the current levels of enquiry for that property type, and the prevailing business sentiment. If this is the case then you can look further at auction.
The auction method of sale is a proven time based sale process that flushes out the enquiry and if the investment property ticks all the other boxes such as:
- Preferred property type in the local market.
- Good improvements on the property.
- Location factors that attract enquiry.
- Capital growth opportunities.
- Good tenant profile or anchor tenant.
- Good lease structure that supports stability of rent.
- Low vacancy factors and associated risk.
- Tenant mix that is well structured and balanced for property function and rent growth. This is really important in retail property.
- A realistic seller with a reserve price that allows for comparable property evidence and other sales history.
- A vendor funded marketing campaign that targets the right buyers and activates enquiry from them.
- Acceptable (and not excessive) levels of comparable property on the market that are competing with the subject property coming up for auction.
Do not overlook the advantages of auctioning a commercial property. Just make sure all the other existing elements are in support of that method of sale before you start.