Anyone who says it isn’t easy to learn how to sell a commercial property without a realtor is selling something (other than your property!). In fact, commercial real estate brokers would prefer you didn’t know that:
- They often charge a 4-8% commission on a sale. If you sell your own property, you can pocket that money yourself—and it can be no paltry sum, especially on a multi-million-dollar sale.
- Usually, agents work with several clients at the same time. So, the more talented a broker is, the less attention you’re likely to get from them and the longer your property takes to sell.
5 reasons selling commercial property without a realtor makes sense
- Save on commission fees. Selling your commercial property privately means saving thousands in agent commissions. You get more flexibility to set a competitive selling price and often sell faster than an agent could.
- Slash advertising costs. Advertising costs associated with listing your property can be significantly lower if you don’t work with an agent. Why? Because agent marketing fees also promote their agency. Get complete control and make sure every dollar spent goes to marketing your commercial property.
- You know your property better. No agent can respond to inquiries from buyers like you can. Forget the middleman and deal with buyers directly for better outcomes.
- More control. Enjoy ultimate control over how you market and promote your property. No pressure for unnecessary upgrades to your platform listing means you decide where your money’s best spent based on actual buyer enquiries.
- Better use of your time. Decide when it suits you to show potential purchasers through your property—never rely on a busy broker’s schedule again.
Below you’ll find insightful advice on how to sell your commercial asset for the price you want quickly and easily. Let’s get started!
Our 5-step guide to selling commercial real estate yourself
- Get an inspector in. A certified inspector will examine the overall condition of your commercial property and help you figure out what repairs to do before you can put it on the market. Expected cost = at least $550, but costs can vary.
- Do any necessary repairs. After your certified inspection, make all repairs imperative to protect your investment. Decide whether repair expenditure on suggested repairs is worthwhile compared to the compensation you’ll receive through a boosted sale price.
- Get an independent appraisal. Hire an independent appraiser once all repairs are complete. They’ll determine the price to sell your property for based on its amenities, location and similar local commercial sales. Expected cost = $300 – $600.
- Best in show. Clean everything top to bottom—a professional cleaner is best if your property is large. Don’t forget to pay attention to the façade and landscaping—you want to wow prospective buyers.
- Conveyancing. Hire a professional to draw up your contracts and vendor statement to minimise legal risks. Expected cost = $500 to $1000.
- Advertise. You don’t need to spend thousands on your advertising and marketing campaigns. Social media and property platforms let you do more with your ad spend than ever. You can also go old school with for sale signs, classifieds, and word-of-mouth.
Want to learn more about how to sell a commercial property without a realtor? Check out our selling a commercial property privately guide or browse our blogs about selling privately for special tips and tricks.