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Land Development Series: Step 7

January 25, 2024

Marketing The Property for Sale or For Lease

After construction has been completed, the next step may be that the owner of the property takes occupancy. However, in many cases the owner takes only some of the space, or is acting as an investor and will market the property for sale or lease (or both!) This is a step where working with a real estate brokerage is often very helpful. The process of marketing a property for sale or lease involves several key steps to attract potential buyers or tenants, which real estate agents specialize in.

Here’s a general overview:

1. Prepare the Property.

   – Clean and stage the property to enhance its appeal.

   – Make necessary repairs or improvements to increase its value.

2. Set a Competitive Price. 

   – Research the market to determine a competitive and realistic price.

   – Consider the property’s location, size, features, and current market conditions.

3. Professional Photography and Descriptions.

   – Hire a professional photographer to capture high-quality images.

   – Create detailed and attractive property descriptions highlighting key features and amenities.

4. Create Marketing Materials.

   – Develop a visually appealing listing brochure or flyer.

   – Create any helpful maps or other graphics that convey important information about the property and it’s location.

5. Online Presence.

   – List the property on popular real estate websites like Zillow, Realtor.com, and others. Which ones used is determined by the type of uses that the property is zoned for. Residential listings generally market on different platforms than commercial ones, for example. 

   – Leverage social media platforms to reach a broader audience.

6. Traditional Marketing.

   – Use traditional marketing methods, such as placing ads in local newspapers or real estate magazines.

   – Install a “For Sale” or “For Lease” sign on the property for local visibility.

7. Open Houses and Showings.

   – Host open houses to allow potential buyers or tenants to view the property.

   – Schedule private showings for interested parties.

8. Networking.

   – Collaborate with real estate agents, brokers, and industry professionals.

   – Attend networking events to promote the property to a wider audience.

9. Negotiation and Offers.

   – Handle inquiries, negotiate terms, and evaluate offers.

   – Work with legal professionals to ensure proper documentation and compliance with regulations.

10. Closing the Deal.

    – Facilitate the closing process, including inspections, appraisals, and finalizing paperwork.

    – Ensure a smooth transition of ownership or occupancy.

11. Follow-Up.

    – Maintain communication with the buyer or tenant throughout the process.

    – Gather feedback to improve future marketing strategies.

Keep in mind that the specifics of the process may vary depending on the type of property, local market conditions, and applicable laws and regulations. Working with real estate professionals can often be beneficial in navigating the complexities of property transactions.

Need help with marketing a property that you are looking to sell or lease? Give us a call for a free consultation!