The more data you can provide for your Consorto commercial real estate listings, the better chance you have of selling, says Property Listings Manager, Märt Roos.
Many global investment companies have a set process of analyzing potential investments and if some of the important information is missing, they might exclude the opportunity from their list, says Märt.
Of course, particularly for private listings and off-market deals, agents want to keep certain information hidden.
“We understand that in many cases the sellers do not want to reveal detailed information to third parties, but to get the initial interest from a potential investor you need to give them something. It also varies very much between different property types, but in my opinion regarding the data, I would say the more the merrier.”
Important information for your Consorto commercial property listing
Märt has drawn up a list of the most important information to include in your Consorto commercial property listing:
- Condition of the property – Is it a new or recently refurbished building? Is there a need for refurbishment and there is a value-add option? It is good to know the year the building was built or when was it last refurbished. Often, properties tend to have further development opportunities. In that case, it is important to understand what is the potential size of the possible extension.
- Occupancy and tenant info – Is the property sold in vacant possession? Is it a single-tenant building or how many tenants are there? What percentage of the building is currently occupied? Also provide a brief background of the tenant(s), for example, credit rating and the sector they are working in. For hotels, it is important to understand if there is a lease or management agreement, is it owner-managed or is it sold without operator.
- Lease terms – In case of tenants, it is important to understand the agreements signed with them. Most well-known agreements are net, double net or triple net lease agreements. Besides the agreement type, the buyer is expecting info regarding weighted average lease term, average rent price per unit and if there is a lease extension option or a lease break clause confirmed.
- Financial information – Financial data is one of the most essential information for the investors, so at least yield and net operating income should be provided. During further steps, more specific financial data is expected.
- Sizes – Leasable area, land plot size, number of floors, number of parking spaces.
- Ownership information – Is it a freehold or a leasehold property? Is the property sold as a share or an asset deal?
- Land and development projects – Similar data with few adjustments is required for the sale of land and development projects. For land, it is important to understand what is the intended use of the property (industrial, commercial, residential etc.), also what is the possible gross buildable area and is there a building permit issued. Development projects also expect timeline and financial predictions.
- Be prepared to present photos, views and floor plans – To make your property stand out even more, feature dynamic drone photography or video.
Märt concludes, “If you provide the information mentioned above, there is a higher chance to gain the interest of buyers.”