If you are new to selling commercial real estate in Edmonton, you likely have questions that need answering. The best resource to find answers is by hiring commercial REALTOR® who has expertise in buying and selling commercial real estate. For the sake of this article, we are looking at 3 things that are imperative to the success of selling commercial real estate in Edmonton.
Hiring professionals is important.
When selling commercial real estate in Edmonton, working with reliable and experienced professionals is crucial. Hiring a trustworthy REALTOR® who knows the Edmonton market and has a good network can significantly improve your chances of success. A real estate agent’s expertise in marketing, negotiation, and legal matters can be invaluable to you as a seller. You may also need to hire other professionals such as a real estate lawyer, an architect or designer, or a tax accountant, to ensure you receive support and guidance throughout the entire transaction. These professionals work together to increase the likelihood of a successful and legally sound transaction.
Local market conditions matter.
It is crucial to understand the local market when it comes to selling commercial real estate in Edmonton; this involves exploring the current economic conditions, trends, and specific factors affecting the commercial real estate sector in the city. You can get a comprehensive market overview by analyzing the vacancy rates, rental prices, and overall demand for commercial properties in different neighbourhoods and districts within Edmonton. In addition, researching factors such as employment rates, population growth, or any significant developments or infrastructure projects in the area can provide insights into the market’s health and potential for growth. Understanding these market dynamics helps set a competitive price, assess the property’s attractiveness to potential buyers, and position it effectively in the marketplace.
Assess your pricing strategy.
Developing a pricing strategy for selling commercial real estate in Edmonton involves a multifaceted approach. Firstly, you should obtain a professional appraisal to determine the property’s fair market value. This appraisal should be done by an expert familiar with the local Edmonton market. Once you have this valuation, you should factor in current market trends, property conditions, and unique selling points to set a competitive and realistic price that aligns with the property’s value and market conditions. You should also consider the flexibility required for negotiation while ensuring the price remains competitive. Additionally, it’s essential to periodically reassess the pricing strategy, especially if the property remains unsold, to adapt to changing market conditions and buyer demand. This comprehensive approach will position your property effectively and increase the likelihood of a successful and timely sale.
Working with Realty Unleashed.
Realty Unleashed is an independent real estate brokerage that serves clients in Edmonton and Calgary. Our motivation for starting Realty Unleashed stemmed from our research that showed many property owners are dissatisfied with the service they receive when selling or leasing their properties. Clients deserve better and should expect more from their real estate professionals. If you plan to sell or lease your commercial property in Edmonton and need a REALTOR®, please fill out the form below, and one of our team members will respond shortly.
