Here is how you start:
- Register as a User at Realpro.com.au
Use the easy Registration panel and use the “GUIDE”menu.
- Determine the Right Selling Price.
Use our “FREE”recent Sales Data records of your area. You can also, if you wish, buy an independent professional valuation report for advanced data.Once you have an unbiased evaluation of the market value ofyour property, you then can determine your property Sale Price.
- Choose the Service Option you decide is best for you.
Use our Guides and sales aids to help prepare your listing.
- Get Your Property Inspection Ready
Clean, super tidy and minor maintenance complete, with help from Realpro.com.au to help you do this.
- Photographs of Your Property
Use your own camera and upload or have Realpro.com.au we can helprefer a professional photographer for best results.
- Compose and Print Brochures
Use your advertisement as the basis of a brochure using PDF software. You can print or use a local printer for a really professional look.
- Inspection by Your Enquiries
With brochures ready, have outgoings detailed, such as rates, and a description of local amenities, e.g., libraries, schools, parks, etc. For those inspecting, take names and contact details of all who come and make sure a family member or friend is there at all times.“No Fuss or Hurry” – let buyers be relaxed.
- Buyer Negotiation
Use the guidethat Realpro.com.au provides. Remember, the buyer may like your house as much as you do so use this friendly atmosphere to lead to a sensible conclusion on agreed sale price, without an Agent meddling between you both.
- Closing the Sale
Make it easy for the buyer to pay their 10 % deposit by having the solicitor or conveyancerready to receive it into their Trust Account. This confirms to the buyer you have done thorough preparation and gives them confidence. Keep in touch with the buyer to ensure they know settlement time and talk to Realpro.com.au for specific assistance.
- Settlement Party
Time to party when the contracts are exchanged, the settlement cheque is given to you and the sale has been done – by you, without an Agent and without their Commission.
Make your building look as good as possible before putting it on the Market. Seemingly superficial aesthetic touches can make a surprising difference in real estate. Clean up the lot, mow and trim any lawns and hedges, have the windows professionally cleaned and remove any graffiti. All of these touches will show that you care about your building and make it more likely to attract buyers. Issues to consider:
- Commercial Lease Agreement (If Tenanted)
- Details & Amount of Most Current Outgoings, payment of all the building insurance, rates, land tax and other charges.
- Details of Inclusions and/or Exclusions
- Contract for the sale of land
- Conveyancer or Solicitor
Upon you agreeing with your prospective buyer or buyers on selling price and terms & conditions; To avoid any problems arising in the future, it is important that you obtain legal advice prior to entering into a formal Sale Contract so that you clearly understand your sale obligations and your conveyancer or solicitor can make sure all legal requirements are met.
- PROPERTY VALUING
“Getting a Property Sale Price“
If you want to:
- stay away from Agent Commissions
- know more on how a Commercial Property is SOLD
- decide if a private sale is right for you,
READ THIS GUIDE
A Commercial Property, usually, gets most buyer attention very soon after it is listed, so use this information to prepare as much as possible to capitalise on this vital period.
Savings
What you will save by private sale is the Agent’s commission. Depending on the sale price and area, these can generally range from 2.2% to 3.3%. If the median Commercial Propertyprice was around $1,000,000, then private sale brings a MINIMUM of $22,000. SAVED.
Knowledge
You, the owner, know your property best. The surrounding area and attractions, community insights, facilities and infrastructure are all second nature and you are the best person to talk about them to interested buyers. This also builds confidence and familiarity with a keen buyer, directly talking to an owner. You cannot expect an Agent to be as committed; he has other properties to sell beside yours.
Control
With an Agent, you are a passenger on their train, one with many carriages. In a private sale, you drive the locomotive and get help where and when you need it. Timing of inspections and their security, gaining all interested buyer information, type and method of advertising and more, all remain in your hands, not a third party’s.
PROPERTY VALUING
“Getting a Property Sale Price”
Some Value Factors
Besides looking at the “Getting a Property Sale Price” section, be aware of these factors when looking at the value of your Commercial Property.
- Expenses. These can be researched from Property Managers you use or know. For a residential block, for instance, the number of apartments is a base unit to seek, total expenses being divided by this number. A similar metric can be applied to square metres in the property. Properties such as factories, warehouses and parking stations can give similar figures dependent on the income earning unit in them.
- Taxes and Statutory Charges. State And Government taxes, Council rates and charges and stamp duty all feed into the calculation of value and, therefore, selling price.
As elsewhere, Realpro.com.au can help on these matters and refer our Users to reliable Professional Valuers, experienced in commercial valuing. They take into account all the factors mentioned and combine, with other issues mentioned elsewhere, into a realistic value for your Commercial Property.
Legal Matters
If you have not engaged a lawyer or professional to arrange contracts and settlement, it is advisable to do so now. Unless you are experienced and confident of your capacity in property legal issues, you will need a lawyer to ensure all requirements are met for the sale. The complexity of Commercial Property sales is such that, regardless, using a lawyer is almost a mandatory step,
Promotion
Selling your commercial property privately means that you must have the widest promotion of the commercial property. These days, that means Online and here Realpro.com.au will get your property posted on the Australia’s Largest Commercial Real Estate and best websites, such as Realcommercial.com.au, to get to buyers looking for a Commercial Property like yours. We will help with advice on the listing, description and photographs, amongst other tips. We have experienced and qualified staffs that are able to assist you in this.
Other Tips on Selling Commercial Property
Realpro.com.au can help with brochures and photo boards. These, for a commercial Property, should be of high professional standard to attract serious buyers and confirm the importance of your property as a potential investment. Photo Boards, placed in foyers and visile to passing pedestrian traffic, can enhance the impact of online advertising.
First Impressions
Buyers often decide on a property when they first see it from the footpath. The private seller needs to do all they can to make this a good impression. A Commercial Property that is painted, clean, super tidy and with minor maintenance complete will achieve this. Realpro.com.au can give help for you to do this, but here are some points to consider,
- Prepare all supporting documents concerned with the operation of the property, so a prospective buyer has this information when they inspect
- Paint the exterior where it needs it,
- Mow the lawns and clean up gardens, common and public areas and entrances
- Obvious repairs, such as lighting or broken paving, should be fixed before inspections.
- Clean all windows, inside and out.
- Remove rubbish and clutter.
- Have your interiors clean and bright, again with no clutter to detract from a good impression. Again, all minor repairs should be completed before inspections.
Examine your Commercial Property as if you were the buyer. Does it look like it has tenants who are pleased with the building; do the lifts work properly; is the concierge staffs bright and helpful? These and other small details can help create a positive atmosphere and assist negotiations.
Buyer Negotiation
Remember, the buyer may like your Commercial Property as much as you do so use this friendly atmosphere to lead to a sensible conclusion on agreed sale price, without an Agent meddling between you both. In Commercial negotiation, especially, these discussions should be “Face to Face” and started by the seller. Prepare for questions, such as comparisons with similar properties. Have in mind your aims – the lowest price acceptable and how quickly you want to sell. Then, isolate concerns that keep from getting there with the buyer, without getting stuck on one issue. Often, best to see if you can come back to this point later, and move on to other matters that can be agreed quickly. Compromise is always going to be necessary, usually at a level that satisfies the buyer and also gets a price that delivers you the return that is appropriate in the market conditions. Don’t set your opening price too low, as negotiation will probably bring it down further – give yourself a buffer to move down, but still get the price you will be satisfied with. Find out what the buyer wants and then move toward that need, without giving up your aims. Be honest and acknowledge the need of the buyer, even if you can’t meet them. This may open the way to further discussion and concession on their part. Leave matters open if there is no agreement – often a good night’s sleep may bring the buyer back with a more accepting attitude. Always have your own aims clear, and be flexible as you move toward agreement on them.
Completing the Sale
In commercial negotiations, when agreement is reached, confirm this with written summary prior to the Contract of Sale being drawn up. It will further commit the buyer and allow them to offer any minor changes from their understanding of the final meeting. Make it easy for the buyer to pay their deposit by having the solicitor or conveyancer ready to receive it into their Trust Account; this confirms to the buyer your preparation and gives confidence. Keep in touch with the buyer to ensure they know settlement time and talk to Realpro.com.au for help. Unless the buyer is in the unlikely position to pay in cash, you need to give them time to arrange or finalise finance for the purchase. It shows the prospective buyer they must not waste time.. If they cannot settle, then you have not lost time or enquiries and can go on with your sale activities, without pause.
Settlement
When the settlement cheque is given to you and the sale has been done – you will have the great satisfaction of knowing you did it, without an Agent and without their Commission.
PROPERTY VALUING
“Getting a Property Sale Price”
- Commercial Lease Agreement (If Tenanted)
- Details & Amount of Most Current Outgoings, payment of all the building insurance, rates,
- land tax and other charges.
- Details of Inclusions and/or Exclusions
- Contract for the sale of land
- Conveyancer or Solicitor
Upon you agreeing with your prospective buyer or buyers on selling price and terms & conditions; To avoid any problems arising in the future, it is important that you obtain legal advice prior to entering into a formal Sale Contract so that you clearly understand your sale obligations and your conveyancer or solicitor can make sure all legal requirements are met.
PROPERTY VALUING
“Getting a Property Sale Price“
stay away from Agent Commissions
know more on how a Commercial Property is SOLD
decide if a private sale is right for you,
READ THIS GUIDE
A Commercial Property, usually, gets most buyer attention very soon after it is listed, so use this information to prepare as much as possible to capitalise on this vital period.
Savings
What you will save by private sale is the Agent’s commission. Depending on the sale price and area, these can generally range from 2.2% to 3.3%. If the median Commercial Property price was around $1,000,000, then private sale brings a MINIMUM of $22,000. SAVED
Knowledge
You, the owner, know your property best. The surrounding area and attractions, community insights, facilities and infrastructure are all second nature and you are the best person to talk about them to interested buyers. This also builds confidence and familiarity with a keen buyer, directly talking to an owner. You cannot expect an Agent to be as committed; he has other properties to sell beside yours.
Control
With an Agent, you are a passenger on their train, one with many carriages. In a private sale, you drive the locomotive and get help where and when you need it. Timing of inspections and their security, gaining all interested buyer information, type and method of advertising and more, all remain in your hands, not a third party’s.
PROPERTY VALUING
“Getting a Property Sale Price”
Some Value Factors
Besides looking at the “Getting a Property Sale Price” section, be aware of these factors when looking at the value of your Commercial Property.
Expenses. These can be researched from Property Managers you use or know. For a residential block, for instance, the number of apartments is a base unit to seek, total expenses being divided by this number. A similar metric can be applied to square metres in the property. Properties such as factories, warehouses and parking stations can give similar figures dependent on the income earning unit in them.
Taxes and Statutory Charges. State And Government taxes, Council rates and charges and stamp duty all feed into the calculation of value and, therefore, selling price.
As elsewhere, Realpro.com.au can help on these matters and refer our Users to Professional Valuers in your area, if available, experienced in commercial valuing. They take into account all the factors mentioned and combine, with other issues mentioned elsewhere, into a realistic value for your Commercial Property.
Legal Matters
If you have not engaged a lawyer or professional to arrange contracts and settlement, it is advisable to do so now. Unless you are experienced and confident of your capacity in property legal issues, you will need a lawyer to ensure all requirements are met for the sale. The complexity of Commercial Property sales is such that, regardless, using a lawyer is almost a mandatory step,
Promotion
Selling your commercial property privately means that you must have the widest promotion of the commercial property. These days, that means Online and here Realpro.com.au will get your property posted on the Australia’s Largest Commercial Real Estate and best websites, such as Realcommercial.com.au and Commercialrealestate.com.au, to get to buyers looking for a Commercial Property like yours. We will help with advice on the listing, Professional Photographs and Description, amongst other tips. We have experienced and qualified staffs that are able to assist you in this.
Other Tips on Selling Commercial Property
Realpro.com.au can help with Professional Photo Signboards. These, for a commercial Property, should be of high professional standard to attract serious buyers and confirm the importance of your property as a potential investment. Professional Photo Signboards, placed in foyers and visible to passing pedestrian traffic, can enhance the impact of online advertising.
First Impressions
Buyers often decide on a property when they first see it from the footpath. The private seller needs to do all they can to make this a good impression. A Commercial Property that is painted, clean, super tidy and with minor maintenance complete will achieve this. Realpro.com.au can give help for you to do this, but here are some points to consider,
Prepare all supporting documents concerned with the operation of the property, so a prospective buyer has this information when they inspect
Paint the exterior where it needs it,
Mow the lawns and clean up gardens, common and public areas and entrances
Obvious repairs, such as lighting or broken paving, should be fixed before inspections.
Clean all windows, inside and out.
Remove rubbish and clutter.
Have your interiors clean and bright, again with no clutter to detract from a good impression. Again, all minor repairs should be completed before inspections.
Examine your Commercial Property as if you were the buyer. Does it look like it has tenants who are pleased with the building; do the lifts work properly; is the concierge staffs bright and helpful? These and other small details can help create a positive atmosphere and assist negotiations.
Buyer Negotiation
Remember, the buyer may like your Commercial Property as much as you do so use this friendly atmosphere to lead to a sensible conclusion on agreed sale price, without an Agent meddling between you both. In Commercial negotiation, especially, these discussions should be “Face to Face” and started by the seller. Prepare for questions, such as comparisons with similar properties.
Have in mind your aims – the lowest price acceptable and how quickly you want to sell. Then, isolate concerns that keep from getting there with the buyer, without getting stuck on one issue. Often, best to see if you can come back to this point later, and move on to other matters that can be agreed quickly. Compromise is always going to be necessary, usually at a level that satisfies the buyer and also gets a price that delivers you the return that is appropriate in the market conditions.
Don’t set your opening price too low, as negotiation will probably bring it down further – give yourself a buffer to move down, but still get the price you will be satisfied with. Find out what the buyer wants and then move toward that need, without giving up your aims.
Be honest and acknowledge the need of the buyer, even if you can’t meet them. This may open the way to further discussion and concession on their part. Leave matters open if there is no agreement – often a good night’s sleep may bring the buyer back with a more accepting attitude.
Always have your own aims clear, and be flexible as you move toward agreement on them.
Completing the Sale
In commercial negotiations, when agreement is reached, confirm this with written summary prior to the Contract of Sale being drawn up. It will further commit the buyer and allow them to offer any minor changes from their understanding of the final meeting.
Make it easy for the buyer to pay their deposit by having the solicitor or conveyancer ready to receive it into their Trust Account; this confirms to the buyer your preparation and gives confidence. Keep in touch with the buyer to ensure they know settlement time and talk to Realpro.com.au for help.
Unless the buyer is in the unlikely position to pay in cash, you need to give them time to arrange or finalise finance for the purchase. It shows the prospective buyer they must not waste time. If they cannot settle, then you have not lost time or enquiries and can go on with your sale activities, without pause.
Settlement
When the settlement cheque is given to you and the sale has been done – you will have the great satisfaction of knowing you did it, without an Agent and without their Commission.
PROPERTY VALUING
“Getting a Property Sale Price”
Importance of setting your Property Sale Price:
Realpro.com.au can help provide recent residential sales data to our Users, if available, to help set their residential property sale price. Once a User has registered and paid for the chosen Service Option, this data is a free service.
It is also worthwhile to hire a reputable and licensed real estate valuer and buy an independent professional valuation. Their Fee can be normally up to a few hundred dollars.
Once you have an unbiased evaluation of the market value of your property, you then can determine to set your Property Sale Price.
Overpricing can cause as much damage to your sale as going too low. Real Estate Agents often suggest a higher price to a seller to get the sales agreement and then lower it when buyers reject an unrealistic price. The difference in their commission is very little but the seller is left out of pocket and wastes time. Private sale avoids this and emphasises the importance of setting the right price.
Compare sale prices of comparable properties within a kilometre or so of your property. This sales data is generally within the last six months. Using the postcode for your property, examine properties that are similar in standard of accommodation and facilities, lot size and specific location. Use online aids and sale price data and list a range of property prices closest to yours.
Valuer’s Report
You may wish to take the more formal step of gaining a professional report on your property from a certified Valuer. Realpro.com.au can help here, also, with recommendations to reliable practitioners. This person can more accurately gauge the effect of market variations, specific aspects of your property that are unique and, most importantly, be totally objective in striking a value that is close to that of a buyer.
It will be an additional cost but is a valuable selling tool, especially in negotiations with a buyer, and that can justify the expense.
Realpro.com.au will recommend a Valuer who includes a confidentiality clause in their agreement, carries out an internal inspection of your property and provides complete documentation as part of their report, such as, title and survey certifications and description of the property.
Once you have set a realistic price for your property, it will repay you in a private sale by giving you, our User, an attractive and realistic price for the property listing that avoids the manipulation an Agent may carry out to both gain your sale, advertisement and then a Commission, at your expense.
