Whozoo Tips#4 I want to sell my commercial property, where do I start?

Published: 02/11/2023

The first major step of selling your commercial property is speaking to a local expert and getting the property valued. 

This is the most common and accurate way to determine the value of your property. A commercial property agent will have access to market data and comparable sales data, which they will use to come up with a valuation for your property.

You can also compare your property to similar properties that have recently sold in your area.

If you decide to use an agent, it is important to choose one who is reputable and has experience of selling commercial property in your area. You should also get multiple quotes from different agents before making a decision.

Here are some tips for choosing a commercial property agent:

-  Ask for recommendations from other commercial property owners or investors
-  Get multiple quotes from different agents
- Interview each agent to ensure they have a good understanding of the commercial property market in your area and your specific needs 
-  Check the online portals to see which agent has the most listings in your area

Once you have chosen an agent, be sure to get everything in writing, including the agent's commission rate and the terms of their service.
Whether or not to use an agent to sell your commercial property in the UK is a personal decision. 

There are both pros and cons to consider:

Pros of using an agent

-  Agents have a network of potential buyers and can market your property more widely than you could on your own.
-  Agents have experience of the commercial property market and can advise you on pricing and negotiation.
-  Agents can handle all of the paperwork and legal aspects of the sale, which can save you time and hassle.

Cons of using an agent:
-  Agents charge a commission on the sale price of your property, which can be expensive.
-  Some agents may not be as knowledgeable about the commercial property market as you would like.
-  Some agents may not be as responsive or communicative as you would like.