The primary purpose of commercial property investments is to add value to business by providing space for their various needs. It has to be extremely functional. But what many fail to realize is that function doesn’t have to be boring. Something useful can also be fun and interesting. Don’t believe us? Check out the following tricks to turning that office into something striking, from blah to bam as what we’d like to say.
Work with a vision in mind. – This sets the pace. It would be particularly difficult to establish style without a clear idea of what you want to happen with the space. So choose a color palette. Pick a theme f you want or go for your company’s hues. Lean towards a particular style be it industrial or minimal or modern.
Add a pop of color. – While beige and cream seem like safe bets, they’re also outdated and can make the room seem old and boring. A quick fix is by way of paint. Either repaint all or go for an accent wall to create focus in the room. But this does not have to be limited to the office walls either. Color can be used in pretty much everything else from framed prints and art to indoor plants to furniture and the list goes on.
Play with textures and patterns. – Rugs, tapestry, wall décor, frames, trinkets, furniture fabric, cabinet door hardware, plants and the like can make things far more interesting because they showcase a play on textures and patterns. They add depth to the visuals so the commercial property investments do not look flat and uninteresting.
Don’t be afraid to mix and match furniture. – Not everything has to be symmetrical and the same. Create a sense of style and cohesion by putting complementary pieces together. The couches need not match nor do the tables unless the task calls for it.
Color coordinate storage pieces. – Don’t be afraid of color when working with commercial property investments. Professional need not be boxed into the so-called safe and formal hues. One way to make boring storage units and spaces is to color coordinate them. Got a massive filing cabinet? Use a different hue for every drawer. Go monochromatic or opt for complementary shades. Wallpaper can be used here as well. Your call.
Commercial property auctions are public sales that involve assets specifically designed and catered for business purposes. They are an accelerated marketing and competitive bidding process that requires participants to bid or propose with the property awarded to the person in the room with the highest offer.
Many sellers and brokers choose to sell in auctions for many reasons. For one, there are those who would want to immediately sell an asset. This is common among banks that have foreclosed properties and would want to liquidate them in as much as possible. There too are sellers who want to take advantage of the demand and competition in them especially during times when the market is slow.
Know what you’re going up against. This will require you to do your homework. Research about the auction and the assets being offered in it. Prior to the event, a brochure, newsletter or catalogue will be sent across or made available for participants who make known of their intention to attend.
Visit and survey the properties. Just because you’re bidding on it doesn’t mean you’re not entitled to visiting the asset ahead of time. You can and it is advisable that you do. It would even be best to get a chartered surveyor look into it. This way, you’ll be sure of the item you’re about to fight for.
Be comfortable with auctions. No, we don’t mean wear your pajamas you silly. What we’re pointing at here is that you should be aware and knowledgeable enough about the processes, requirements and obligations attached to them. If you’re a first timer, it would be best to observe your way through your first auction.
Stay incognito. Don’t reveal too much of yourself and your intentions otherwise they may be used against you. For instance, never be too giddy about a certain asset lest you want other bidders to take notice of the gem you discovered. The same is true for your spending limits. Sellers may opt to raise the bar higher and take advantage of your interest.
Prepare your financing ahead of time. Just because you won the bid at commercial property auctions doesn’t mean that you get the last laugh. You’ll have to pay up an upfront cost and if your financing has not been prepared and made available beforehand, you can still lose to the next bidder in line.
Admit it. We all want to make sales go by fast. Who wants dormant inventory anyway? The same is true even for a retail property for sale. The faster you finish, the quicker the returns enter. How do you achieve it then? Find out and see.
Tip No. 1: Prep up your property. – Inspect it from the inside out and do the necessary repairs and some upgrades if you must. It would even be great if you could call in an expert to help you determine which improvements would be valuable and would give you great returns. Also, a fresh coat of white or beige will really be great to liven and freshen up the look.
Tip No. 2: Don’t forget the curb appeal. – The façade, front lawn and curb of the asset are the first things that any buyer will see. This makes it important for sellers to clean them up too and where needed perform repair procedures. Mow and weed out the lawn too.
Tip No. 3: Study your market. – Cater to the buyer’s wants and needs. In order for you to be able to do that, you need to have a firm grasp of your market. Who are likely to buy your retail property for sale? What do they need it for? How can you reach them?
Tip No. 4: Choose effective advertising. – You need to spread the word otherwise you won’t see results. In other words, you have to communicate the availability of the asset and to do that you need to advertise. Putting up advertisements come with costs too so you have to study your options well and pick those that suit your target market and audience. Also, take advantage of free advertising like word of mouth.
Tip No. 5: Price it right from the onset. – Buyers hate it when an asset is overpriced and way off its actual market value. Get an expert o value your property so you can come up with a reasonable and still profitable amount.
Tip No. 6: Make it easy for buyers to visit. – This brings us back to our first two tips. Potential buyers of a retail property for sale will always want to take a look at it for themselves so you have to do your part and make it as hassle free and smooth for them. Coordinate and schedule their visits and be sure to prep up the space for them too.