Why Commercial Property Sellers In Akron Should Use Hoff & Leigh
The average commercial seller is not up-to-date on the real estate market and may not know how to get their building in front of the right buyers. If you are selling your commercial property in Akron, there are a number of pain points that you need to be aware of. Hoff & Leigh can provide you with a wide array of resources to help you with the marketing of your property to ensure that the selling process is easier.
How much is my property worth?
One of the most common questions that commercial property owners ask is how much their property is worth. As much as you would like to make a profit on your property based on what you originally paid for it, this is not always possible. There may be depreciation of the neighborhood, an ineffective layout to the property that doesn’t work for anyone other than you, or simply a poor real estate market.
There are many cities throughout the country that are experiencing a significant amount of growth when it comes to commercial properties. While Akron isn’t one of the highest areas of growth, there is some. The levels of growth are considerably less – and this can have a negative impact on property worth. This does not mean that you can’t sell at top prices, but it may require you to spend more time preparing for the sale.
You can value your real estate property in a number of different ways.
- Compare your property to others currently on the market
- Use a capital asset pricing model
- Look at the potential income
- Use the cost approach that combines a land value with the depreciated value of improvements
Hoff & Leigh can also help you to establish a competitive pricing model for your commercial property to ensure that you are being fair to yourself while also capturing interest from those who are looking to purchase.
Who are my buyers?
You may be trying to figure out who is going to purchase your commercial property. It may be used for office space, retail space, or something else. Consider the layout to determine what types of industries would benefit from your property. You will also want to look at the zoning to rule out any potential industries. When you know more about who could potentially buy your property, it will be easier for you to sell.
Hoff & Leigh’s APOD Management Analysis also helps you to get clearer estimates about the cash flow of a property as well as the rate of return over the course of the year. This can make it easier to entice buyers.
If you’re like any other commercial property seller, you have marketing woes. You may have limited resources and may not be able to create an effective marketing strategy to get your commercial property in front of potential buyers. If you aren’t marketing your property, it can be difficult to get it sold simply because people don’t know about the property as well as its various benefits. Often, you have to work to sell the property by showing people how it can benefit them.
At Hoff & Leigh, we take an award-winning marketing approach using IMPACT, a unique marketing strategy. It allows us to narrow down the scope of ideal tenants, reach your target market using a variety of platforms, boost the visibility of your property, and represent your financial interests every step of the way. We use print and online marketing to ensure that there are more eyes on your commercial property.
If selling property is dragging you down, it’s understandable. You likely have no experience with selling commercial property, so it shouldn’t be something you deal with alone. Contact us at Hoff & Leigh so that we can make seller representation our primary focus. We will show you how to use our network to your advantage to make it easier for you to sell your Akron commercial property.