Top Ideas to Help Improve Commercial Real Estate Listings
Having trouble selling or finding tenants for a commercial real estate property?
If you’ve been sitting on a stale listing for a while, it may be time to make some changes to the property. Tired or obsolete commercial properties have a hard time selling or leasing because they lack features necessary to attract the modern customer. Commercial real estate investors should focus on retrofitting their investment properties to maximize value and attract customers looking for more flexible office, industrial, and retail spaces.
Let’s look at some of the ways you can improve commercial real estate listings to attract and retain customers.
1. Tidy Up Outdoor Spaces
Clean up the outside of your property to make it externally appealing. You want prospective clients to have a positive first impression of your premises. When it comes to industrial spaces, for instance, it’s the facade and exterior of your property that sells a building.
Consider hiring a landscaping expert to make your property more welcoming; make sure any trash is removed, plus get debris and building rubble disposed of sustainably. Be sure to also carry out some repair and remedial work on external areas.
2. Reconfigure Workspaces
Companies are implementing return-to-work policies and office spaces are changing to reflect the new normal and changing market conditions. The post-pandemic office is challenging many of the design trends adopted over the past several years. Conference rooms have to be reorganized to suit hybrid interactions, and open plan offices may be on their way out.
3. Focus on Sustainability
Today, more and more consumers are motivated to take action on environmental sustainability, especially in the commercial market. As such real estate investors need to think, design, build and market green buildings. Sustainability is now a competitive differentiator that determines which properties sell and their asking price.
4. Increase Online Presence to Market a Commercial Property
When people are in need of something, they turn to Google and other search engines for information. Perhaps, the reason your properties sit empty is because prospective tenants can’t find them. Everyone from property owners to real estate agents should be looking to increase their online presence.
Real estate marketing should also involve social media, which is a great way to open dialogue, share advice, and build fulfilling relationships with buyers, tenants, and renters.
5. Modernize Your Property
Any building on the market should feature up-to-date features and fixtures. Upgrading to the latest building standards and certifications creates a much larger market opportunity.
It’s crucial to ensure your property adheres to the latest energy efficiency standards. Install energy-saving, lighting, refrigeration and HVAC systems to attract eco-conscious consumers and those looking to save on operating costs.
6. Partner With an Experienced Real Estate Agent
In the commercial real estate industry, connections are the key to getting your property off the market. When you work with a commercial realtor, you not only have access to their knowledge and experience, but their professional network as well.
Realtors can save you time and help you invest your money where the return on investment is all but guaranteed. They can also help you determine what improvements to make based on market patterns and consumer behavior. And they operate on a strict code of ethics.
7. Make Your Commercial Properties Accessible
From accessible parking spaces to concrete ramps with handrails, persons with disabilities should have an easy time navigating your premises.
- Redesign bathroom stalls to let wheelchairs enter easily and make common and meeting rooms accessible for all persons, no matter their disability.
- Install braille signage in restrooms.
- Make sure your website works for everyone and is ADA compliant.
- Install overhead signage for people who are hard of hearing.
Making upgrades to improve inclusivity keeps you in legal compliance and makes your properties more attractive to investors.
8. Invest in Security
Having proper security is of the utmost importance to tenants and buyers alike. Elements like key-card access, visitor registration and CCTV and alarm systems can help staff and clients feel more comfortable. Security is paramount to the success of any business, which is why investors should devote resources to business security systems.
9. Get High Quality Photos
This might seem obvious to the more experienced investors, but if your listing is stale, it could be due to the images. People use images to get a feel for whether or not they’re interested in a property. To show off your listings in the best possible light:
- Get your images taken professionally
- Provide a virtual tour for guests
- Update your images to keep up with changing seasons
Photos and videos are a visual medium that can be used to attract customers and generate a buzz.
10. Know Your Neighborhood
Real estate investment is all about locations. Every investor’s goal is to find the right property in the right area because this means you’ve hit gold. Work with a local real estate agent to understand the market value of the area and keep tabs on how other commercial properties are performing. This way, you can determine the best course of action for your investment property, whether it’s residential, retail, or hotel real estate.
Improve Commercial Real Estate Listings with Anthony Maccaroni
Anthony Maccaroni runs a real estate brokerage firm that helps investors like you make long-term profitable commercial real estate decisions. There’s no need to look further for an experienced real estate agent. Anthony has access to commercial real estate properties both on and off the market.
Anthony has years of experience within the commercial real estate market in Florida. Along with his experience, Anthony will provide unique reports that detail potential ROI and growth within the market and the specific properties you’re interested in. Contact us today to schedule a free consultation.