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How to sell commercial real estate

Whether you are a broker or a property owner, to sell commercial real estate is not what it used to be as there can be many surprises. Investors view the commercial property as an investment machine aimed to generate income. If the numbers add up, there is a possibility for a bidding war. And if not, the sale may not be that easy.

Getting yourself prepared can make a great difference between being stuck or creating a favourable property sale. However, the best way to get started is to make the property as pleasantly engaging as possible to give prospects a great first impression. An abandoned commercial property for sale can discourage buyers, thereby affecting the sale price.

How do you want to sell commercial property?

Sell commercial real estate without a broker

While it is unusual for owners to sell commercial real estate by themselves, we cannot rule out the fact that it is possible. Some may have rich experience in commercial properties and are sure to complete the deal without an agent. Others may simply want to maximize their proceeds by circumventing the broker commission.

Whichever way, note that a lot is at stake with commercial real estate sales. Also, the process is complex to finalize. If you have decided to sell by yourself, you will be the one in charge of the entire transaction process, from listing your property to finding potential buyers, communicating with them, finalizing the paper works, inspection, hiring a lawyer etc.

Commercial property for sale using a broker

The activities involved in selling your commercial property by yourself can be hectic and time-consuming. Thus, finding a reliable commercial real estate company who has your best interest at heart can save you a lot of hassle.

They will take over all the processes and help you sell your commercial property quicker. Beyond these, they will help to determine the proper worth of your property for the current market conditions. This is saving you tons of research time.

Rather than relying only on the conventional marketing approaches, professional brokers have an established network of investors and brokers who may be interested in buying your property. They will present your property directly to these prospects, which significantly increase your chances of getting a competent buyer promptly.

You get many benefits when you employ a broker to help with your property sale. But just like with other industry, it is important you do research before deciding on a brokerage agency. Like this you get the best deal for your property.

Bio

Our Property under 20k team are the founders of www.propertyunder20k.com and www.listproperty4free.com with the goal to search the cheapest real estate in the world and make it easy for others to find. The team is made up of landlords, real estate investors, architects and builders from several different countries. We just love to have a good strong cup of coffee while we write our experiences in this blog.

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Home Staging Like a Pro to Attract Millennial Buyers

According to Realtor.com’s 2020 Housing Market Predictions, millennials or those born between 1981 and 1996 are going to buy the most houses during the year 2020. So, it’s a good idea to target your listings to millennial homebuyers. However, you may not be able to sell homes to millennials with the same old staging ideas. You need to understand what they expect from their future homes and stage your properties accordingly.

To make it easier, I am sharing some home staging ideas as per the millennial home buying trends that will help you stage the perfect home for your potential millennial homebuyers.

A Practical Home Office

Millennials usually prefer self-employment. And, more often than not, they like a small, secluded office in their homes. Moreover, remote working is trending. So, even if you’re listing a compact home, try and incorporate a subtle office design when staging the property. Add a desk, a few books, some stationery items, an LED table lamp, a comfy chair, a rug, a plant, and top it off with some wall artwork. Minimal and attractive décor like this will highly attract millennial homebuyers.

Furnishing that Wows Millennials

Millennials prefer a tasteful mix of traditional and modern when it comes to furniture. They like furniture that makes a statement without being over the top. So, go for minimal, contemporary furniture pieces. Add a pop of color with throw cushions and curtains. You must steer clear of wall-to-wall rugs. Natural wooden flooring will accentuate the simplicity of the space and also make it look more spacious.

Also, any buyer would be more interested in the selling point of your listing. So, make sure the fireplace, moldings, kitchen storage, etc. are attractive.

Relaxing Outdoor Spaces

In a survey by Better Homes and Gardens, 77% of millennials who participated said that they want their outdoor space to feel like a retreat where they can relax. So, it’s a good idea to give the patio, porch, and balcony spaces equal attention as you would give to the interiors. You can add wicker chairs with some throw rugs and cushions or go for rocking chairs to give the space a proper outdoorsy flair. Don’t leave out the greens; the greener, the better. To complete the décor, add a coffee table and place a couple of magazines.

Smart Home

Millennials are used to getting anything with a tap on their phone. Imagine offering them a home that understands their habits. They would love a home with modern capabilities, such as voice assistant, keyless entry system, convenient USB outlets, IoT-operated appliances, etc. You can always add these costs to the pricing.

Game Room/Gathering Space

Every millennial buyer would love either a game room or a lively living space. You can get creative and mix these two together to show the potential of the home to adapt to the whims and fancies of the buyer.

One most important trend that you need to look out for, if you’re trying to sell homes to millennials, is the use of technology in real estate. Virtual home staging or 3D home design has gained massive popularity because of its advantages over traditional staging. But before we go into that, here’s a small definition of virtual staging to brief you:

Virtual staging can be referred to as online interior design, in which your property is staged virtually in pictures without the staging furniture. Most buyers, especially millennials, prefer viewing the property online so that they can shortlist without going to showings unnecessarily. This makes virtual staging a practical solution. Moreover, it has some added benefits:

Virtual home staging costs way less than traditional staging. You do not need to buy or rent furniture, which will tremendously save costs.
You will save on the cost of manpower for furniture installation and the cost of photoshoots.
Cost of minor fixes in photographs such as fixing broken doorknobs, window glasses, flaky paint, etc. will be covered.
With online interior design, you can customize home staging as per different listings and people.
Vacant staged homes are the hotspots for burglars. With virtual staging, you will eliminate this risk.

If you’re looking for the best in class virtual staging services, Styldod is your ultimate destination. Get in touch with us to find out how you can leverage our solutions and sell your property quicker with great return on investment.

Author Bio:

Rahul Agarwal is the Co-founder & Chief Business Officer at Styldod, where he has taught a computer to do interior design! Styldod provides the most hassle-free & inexpensive virtual staging solutions for real estate agents so they can sell their listings faster, and for higher prices. Rahul was also a co-founder of Mebelkart (which is acquired by Ask Me). He’s your everyday IIT Kanpur nerd who pushes the boundaries with his innovative entrepreneurial stints and is also a sound startup investor & advisor. Rahul attributes his success as a professional to the discipline he has learned from his district hockey days, being a swimmer and a gym enthusiast.

5 tips – selling overseas real estate on an international market

Selling overseas real estate to an international pool of clients is a completely different game all together. You know better than anyone that this means to get your property in front of your ideal client in their home country.

Selling overseas real estate – How can you possibly do that?

It can be a mine-field when trying to create an effective strategy when you are marketing your property online. What website will the possible buyer look at? Is there a website where you can offer your real estate to the whole world? Of course, almost every website can be visited from all over the world but would it be popular enough in the country of your ideal client?

1 Get the right real estate portal that is specialized to promote to international clients

In fact, the services of many huge website portals only available to the country they are located in. Realtors with international listings usually are not allowed to list them. Even if one allows it, their focus is not on helping real estate agents to promote to an international audience.

Check out one of our property portals that not only performs extremely well but also will put your ad on a world map, making it easy for international buyers to find it.

Register with them and benefit from a range of services that will help you buy, find, sell or rent international real estate.

If you are looking for overseas property yourself but you are on a limited budget, check out this website https://www.propertyunder100k.com/ and find lots of bargains below 100k.

2 Use a sales platform that is internationally known

There exist platforms that facilitates the sale of real estate between third-party buyers and sellers. This is a very good way to get good leads. One example would be eBay. Maybe it is not available in your country or the real estate section is restricted but once you have an account in eBay you easily can use it on eBay sites of other countries.

Another good website were you can list your property is https://www.listproperty4free.com/

3 Use Social Media to promote your overseas real estate

Probably you heard this many times – no matter what you want to promote – use social media. Used in the right way you are no beating in the air but actually getting some real results. Actually, it might be even easier to find the right audience for your property. In Facebook for example, you can enter your real estate in the market place and promote it in related groups. And the best of all, it’s all free. Just takes a bit of your time.

4 Make the best impression

I can’t stress this enough. When selling overseas real estate, the first impression – which will probably be when someone looks at your ad – is the most important. By this someone might decide to make contact and come for a viewing. How can you do this?

Present your property in the best light, tidy up, declutter do what it takes to give a great feel to the place and very important – do professional photos.

That’s making a good impression from a visual point of view. Also, put some work in an appealing text to describe your real estate. Mention the best features of it and it’s potential. Especially in an overseas real estate it makes sense to tell a bit about the lifestyle too.

5 Be flexible with payments if you can

Sometimes it is already hard enough to get a mortgage for a first home. If you like to get something abroad it gets even more difficult. Therefore, you will have more possible buyers if you can be flexible with your terms of payment.

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Image: Image by Gerd Altmann from Pixabay

Home Improvements You’ll Never Regret

When it comes to home improvements, there are some that surely will last a lifetime.

Home Improvements

Sitting in an apartment that was built when I was born, I wish the builders already had thought about some extras instead of going for the minimum standard. But on the other hand, I probably would not appreciate some changes as much. Although it’s impossible to predict the future there are a few enhancements that surely will give more comfort, sustainability and even increase the value of your home. So, no matter if you’re ‘dwelling or selling’, here are some areas that are a safe bet.

Windows

By replacing old windows with high-quality double-glazing windows, you are adding energy efficiency along with security to your home. Needless to say, it makes your house so much more comfortable, they look good and sometimes they are also easier to clean – depending on how your old windows looked like. This is definitely something you will love.

Heating

Did you know that upgrading a home’s boiler and heating system has the highest return of investment when it comes to increasing a property’s value? At the same time, it is even more cost-effective than other renovations and refurbishments.

Best is to combine the fitting of new heating equipment with other improvements, such as replacing old windows, sealing the entrance door and insulating the roof. In doing this, you can see your energy savings begin to show.

Electrical

Extreme temperatures can put an extra burden on your home’s electrical system. If yours is already older it would probably be a good idea to have it inspected and at the same time the electrician can advise you on electrical improvements you can do.

Getting the right lighting in your real estate is not only saving electricity but it also puts your home in the right light. With the right light fixtures you can cater for the right mood and set an ambience everybody loves.

No-Cost Home Energy Upgrades

Some countries help homeowners to make energy saving upgrades. Whether you rent or own, you could be eligible to receive free energy-efficient home improvements or get some financial help. It surely is worth to look this up in your country before you start your home improvements as this can really make a big difference in your budget.

Are you still looking for your own DIY project? Have a look at homes for sale that need renovations on https://www.all-real-estate.com/derelict-properties-for-sale

Or you just finished your home improvemets? Let us know how did it go in the coment below. If you are thinking to sell it, you can list it with us for free.

If your home improvemets are very extensive you might wonder where you can stay in the meantime. I know some who put a mobile home in the backyard allowing them to live hassle free until works were finished. In that case you might like to look up some mobile homes for sale.

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Smart Home – what does it mean?

We encounter the expression “smart home” everywhere today. But it means much more than clever refrigerators and intelligent lighting. Smart home is when your house “thinks” and makes your everyday life as easy, safe and pleasant as possible. Thanks to a smart home, you save precious time. Smart devices organise annoying routine tasks for you. The goal is comfort, entertainment, energy saving and security.

Smart Home how does it work?

The principle can be summed up in the following; Various electrical devices and sensors are interacting and communicating with each other. Often, you can control Individual devices and even entire systems remotely. In this way, a simple and complex process can be automated.

How does the communication work?

Lying by the pool and starting the oven with a roast for dinner? Or making a coffee while still in bed with your smartphone? With Smart Home, such comforts have long ceased to be a vision of the future. At home, the devices communicate using standards such as WLAN, Bluetooth, KNX data cables or even directly via the power line.

All are proven standards and almost all current smart home devices and systems can be installed and operated very easily today – via an integrated display, smartphone, tablet or even a voice control.

Which devices can be controlled in a smart home?

In principle, every electrical device and system can be controlled smartly. Therefore, it is often possible to optimize comfort, safety or efficiency at once. Lighting, heating and air conditioning systems are typical areas of application for smart homes such as controlling canopies, blinds and shutters. Entire lighting concepts can be conveniently controlled and automated.

A message on your smartphone as soon as your laundry is finished?

Thanks to Smart Home, this is not a problem.

But it gets even better, entire home security systems can be controlled as well. While you are away, it is very easy to check that everything is fine at home using your smartphone. If someone rings at your door you can even see who it is and answer at the intercom. You simply access your intercom and cameras at home via the Internet.

Want to buy or sell your home? List it with us today.

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Homes are still selling despite Covid-19

As latest numbers are in, there is a wave of relief going through the real estate sector. The good news is, homes are still selling.

No doubt, the covid-19 virus will have severe consequences on the real estate market, but it seems with low interest rates people are still buying homes.

All over the world people have lost part of their income due to the coronavirus pandemic.

The first shock

When the coronavirus hit the world most of us were under shock. I never spend so much time to watch the news than the first weeks of the coronavirus pandemic, always checking the latest numbers. After a couple of weeks though we kind a got used to it – although there are still moments when the whole situation seems incredibly unreal.

It is true that we also saw a decrease of visitor to our website for a couple of weeks but we are happy to say that all numbers are back to normal now. People are still interested in good real estate deals and they didn’t give up of buying homes.

Homes are still selling – a home is one of the basic needs

One reason might be that people became more aware of their “needs” rather than their “wants”. Staying at home and trying to keep everybody in the family sane has shown many the importance of having a home that has everything they need. Having a home definitely is a need. Even if someone needs to downsize and move to a smaller more affordable home it still means that there is movement and therefore home sales are happening in the real estate market.

Challenge to close the sale

In some countries it has become more challenging than in others when it comes to closing the sale legally. With solicitor and notary offices closed or not fully operational this is really a challenge. But surely, as some countries have already started to lift their covid-19 lockdowns this will just be a matter of time.

Time for new ideas

All these new challenges truly have given fuel for new ideas and innovations to simplify the home buying process.

Stuart Miller from Lennar Corp., one of the USA’s largest homebuilders, said they are working on new ways for buyers to buy houses, including through the company’s digital programs as well as drive-through closings, where homebuyers can close on a home through their car.

Positive Outlook for Real Estate

To know that homes are still selling is really good news. It helps us, home buyers as well as sellers, to see the future more optimistic. It’s been a nerve wrecking couple of weeks, even months for some. For me it was great to see how quick real estate agents adapted to the new challenges and finding alternative ways of showing homes to interested buyers.

Keep up the good work.

Real Estate After Quarantine

This temporary quarantine made many people think about their values and goals in life as well as their work situation and their homes.

Although, this isolation is only temporary, life itself has always and will continue to change.

Our social interactions will be different for months, if not years to come. Our economies will eventually grow again, but the way we do business will have progressed. This is true for real estate as well.

Next time I like to quarantine on a tropical island…

One thing is certain, everybody needs a place to live, therefore real estate will always be needed. As much as everybody would like to improve their homes to be able to quarantine in style in case this happens again, it has to be considered that the financial situation of most people changed. Therefore, the housing market needs to adapt. Cheap real estate will be needed more than ever before. “Cheaper” meaning more cost effective.

This of course can mean that people have to downsize or reconsider what they really need in their home – simply back to the basic needs.

“Cheaper” doesn’t mean uglier

It’s true that many houses for sale that are on the lower end of the price range don’t look too good. But to be honest most of them only need a little bit of TLC and they can be a cosy home.

If you need to downsize, why not sleep on a sofa bed in the living room?

How can real estate agents adapt to this new situation?

You as a realtor can continue to do what you are really good at – be there for your clients and understand what they need in their circumstances. This is a new situation for all of us and for some it may be hard to adapt. Maybe some can’t picture themselves in a smaller, simpler home.

Whatever step someone needs to take, you can be there to help and make this a good experience.

What exactly does this mean?

You have to think outside the box, but yourselves in the buyer’s shoes. It maybe time to rethink how real estate deals where done in the past and see new ways that can make the whole process simpler, more time effective and more cost effective.

Will you go with the flow, let the waves take you wherever they go, or will you build a ship and go your own way?

Pick your boat and get on your way.

What is your idea of real estate after quarantine? Leave a comment below and let us know what you think.

Target buyers where they are: at home

This is the longest period of time most of us ever spent at home non-stop. The risk of COVID-19 has grounded about 1.5 billion people worldwide, meaning people are engaging with their homes more than ever before.

Regarding real estate this means that many people have time to think about their living arrangements. They may see things they like to improve in the house or they might shop around for a new house that suits their needs even better.

Whatever the reason why someone may shop around for a new home, it’s simply amazing to see how realtors have already adapted to the new circumstances. I saw that many newsletters were send out by them to keep their clients informed and engaged.

Target buyers who are at home

Also, they started to offer some great new services to buyers, for example to make a house viewing via video conference. While the agent would walk through the house for sale the client can follow along while sitting at home. The agent would explain while doing the walk-through and answer any questions that arise.

Another less personal but equally effective way to target buyers is the virtual tour, where the real estate agent made a video recording of a house viewing and puts this video online. It might surprise how many people will actually look at it who otherwise would have never asked for a house viewing.

My absolute favourite is the 3D tour. As far as I know, the real estate agent needs some special equipment to make a 3D tour for a house but from all options this is probably the best. The 3D model that is created allows anyone to “walk” through the house. It is similar to Google Street maps just indoors.

What about private seller?

Well, nobody can stop you from doing your own video where you walk through your house for sale. This is something everybody can do.

This is definitely some positive side effect of the COVID-19 and I hope this new digital strategy for real estate is here to stay. It saves a lot of time for buyer and seller – house hunting can be very time consuming – as this already helps to get a good overview of a property.

Does your house stinks?

There are certain smells that sometimes are unavoidable in an empty old house but some are so bad that they can ruin your real estate business altogether. If your house stinks it can be a big problem.

Have you ever been at a house viewing and the first thing you noticed when entering was a musty mouldy smell?

Well, it’s not very pleasant to say the least. It immediately gives a bad impression. Nobody wants to live like that. But if you see it from a business point of view it might be a different story. If a house stinks, you might be able to see what the problem is and be confident in how to remove it.

It happened to me when viewing a house in Germany. I was visiting an old house together with my family and when that musty smell hit us at the time of entering our immediate reaction was “no way!”. After a couple of months though we had to admit, there was no other house available anywhere near our budget.

That’s why we came back to it and actually looked at the problem. It turned out that the problem was some humidity in the basement. The basement was all panelled up with wood which also didn’t help much. After a long family meeting we decided, we go for it.

It definitely paid off.

We removed the mouldy wood and did some treatment to the basement walls. The smell was gone and never came back. And best of all, we were able to get our family home within our budget.

That’s the advantage when buying, you are able to get a house with a bad smell cheaper. Of course, you have to be confident that you are able to remove the problem causing this smell.

When selling, it would be wise to spend some money in solving the problem before. Or, maybe there isn’t even a severe problem. Sometimes it just needs a bit of care, like opening the windows regularly in an empty house. Especially before a viewing.

Bad smell that is really harmful

There are certain smells though that are really harmful for your business. It’s those that can’t be solved on a low budget or maybe they can’t be solved at all. Therefore, it is advised to make some counts before jumping into a “smelly” business. One example of a smell problem that can’t be solved would be a nearby pig farm.

Bad smell that can ruin your real estate business

I recently came across a neighbourhood in Portugal located near a paper factory. On photographs all the houses look lovely and it seems to be a really nice place to live. Unfortunately, visiting and smelling the place ruled out any real estate business in this area. Unless you have clients that lost their sense of smell. ?

How to get rich with real estate – or poor

Isn’t that what we all want to know? I always wanted to get rich with real estate. It seems like a simple enough equation but what appears to be a simple method in theory is very often not found in reality.

First and foremost: A property must generate cash flow

Here you can see the basic components that decide the income and therefore the regular income from a rented real estate. Generally, the property has to make profit. The income from your property has to be higher than what you spend. This is a simple and most important rule if you want to make money from renting.

Cashflow is the “key” so to say – just with this income we increase our available capital, which we can spend as we like. We have to take all costs for the property in consideration though, everything – running cost, repairs, maintenance… etc. – to be able to calculate the expected cashflow.

Our goal should also always be to invest as little, if possible, no equity at all. Because on the one hand we can maximize our return on equity and on the other hand we keep our own money with us. In other words: we are looking for bank offers that finance 100% of a real estate for us. To do this, of course, as borrowers, we have to meet the banks requirements. Those costs for a credit also have to be taken into consideration.

How to get rich with real estate – cashflow is the most important

After considering all costs our cash flow should still be positive. Some may now think: there is no such property available by any means. But they do exist! Granted, you may need some time to find them. But why not have a look at our real estate listings? Surely you will find some interesting properties.

The same of course is valid if you are trading with real estate instead of renting it. The only problem is that it will take longer time to generate cashflow as you don’t get money on a weekly/monthly basis. It might be a bit more difficult to get by until you make a sale. You can list your real estate for free on www.listproperty4free.com

Make your homework

Also, if you are buying and selling properties for a living make sure you check with your revenue office beforehand to know how much of you profit will need to be paid in tax. This is also an important figure to keep in mind, in some countries this tax is very high.

Also, you might need to register yourself as a business depending on your local laws, this is always good to investigate before you start as it can be a real game changer.

Conclusion

I did not get rich with real estate but I’m able to make a living without needing to go to a job every day. That was my goal and I’m happy that I reached it. I had to start small though and I’m glad I did as I learned a lot with my smaller projects bringing me to where I am today.