How to Turn FSBO Listings into Commercial property for lease by owner

There is some value in pursuing "for sale by owner" (FSBO) listings in business real estate brokerage, but only if the listing and/or the client show promise of a good result and the asking price or rent is right. Don't be fooled—agents keep going after these ads because there's a small chance that they can sell or rent for a fair price. You don't want to be the first person to try to sell or rent something that was for sale by the owner (FSBO) and is overpriced or over rented.

How to sell a business property: what you need to know

Even though there are some similarities between Commercial property for lease by owner selling and business property, commercial sales are usually more complicated and require a higher level of skill.

Selling business real estate is harder than selling residential homes because there are more rules and procedures to follow. Because of this, most people need to talk to real estate lawyers and other experts at some point during the process.

Savings: One of the main reasons to sell your own commercial property is to save money on realtor fees, which are usually 4-8% of the sale price. When you sell something by yourself (FSBO), you can keep more of the money.

Commercial property for lease by owner selling takes more planning and know-how than selling a residential home. You can sell commercial property on your own, but make sure you have reasonable standards about how much time and work it will take.

FSBO ad

The point of this kind of offering is to get what you want. To do this, you can use the following points of leverage when talking to FSBO clients or trying to get them to sell with you:

Rates of inquiry: Give the most current rates and types of inquiries that apply to the property. Show the owner that you bring in and manage the inquiries for that type of property.

Database list: Show the size of your database list and give an example of a short list of buyers or renters you will talk to about the property. Most property owners find it hard to pass up benefits like these.

Recent questions: If you can show that you're getting a good number of inquiries, the client will pay attention. Use some tools to help you with that.

Target market: Tell the client who you think the property's target market is, and then show them how you'll reach that market.

Plans for inspections: You can show the client how you would look at their home based on its best features and what the target market is looking for. Make a story and a plan out of how you inspect things.

Signs in the neighborhood: Tell the FSBO Commercial Real Estate how many signs they have in the neighborhood.

Internet strategy: You can use websites, industry portals, social media, electronic newsletters or auto responders, and more to sell your property today. Make a diagram of the process and show the client how you will do that for their property.

When you list a home for an FSBO Commercial Real Estate client, simple strategies like these will help you. Set your standards for these kinds of listings, and don't change your mind about the result or how you're going to list it.

How to sell a business property on your own

After weighing the pros and cons, if you decide to sell your business property without a realtor, here's what you need to do:

Get an evaluation

An evaluation is a formal estimate of how much your property is worth. It helps you set your price and makes sure you're not charging too little or too much. It's best to hire someone who specializes in business real estate but keep in mind that appraisal fees vary depending on the size of your property and the scope and nature of the transaction.

Sell your home

Know who you're trying to reach. When you know who you want to reach, it's easier to find them. For example, if you want to sell a retail spot, you might start by looking at similar properties in the area.

Make a page for your property: Putting your property on an online market for business real estate can be costly and hit or miss. Instead, try making a simple website with pictures, videos, and basic information about the property, such as how big it is and what it has to offer.