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Selling an industrial or commercial property is a major financial decision. Yet, I see owners make costly missteps that hurt their bottom line. Here are four common mistakes to avoid:
1. Improper Pricing
Your agent’s job is to help you get top dollar but that only happens with smart pricing. Overpricing a property, especially during the crucial first 60–90 days on the market, can cause you to miss the best buyers or tenants. Trust your agent’s market data and pricing strategy. If the listing sits too long, you’ll likely end up reducing the price anyway often for less than you could have gotten with a more strategic launch.
2. No Plan for the Sale Proceeds
Too often, I see owners accept an unsolicited offer with no clear plan for the money they’ll walk away with. For example, many miss the opportunity to defer taxes through a 1031 exchange simply because they are unaware of the rules or timing requirements. Without a clear post-sale strategy, you can leave hundreds of thousands of dollars on the table.
3. Waiting Too Long to Prepare
Some owners wait until they’re ready to list before calling a broker. That’s a mistake, especially with investment properties. If you think you may sell in the next few years, it pays to start planning now. There may be lease adjustments, deferred maintenance, or operational tweaks that could meaningfully increase the property’s value, but these take time.
4. Skimping on Presentation
You don’t need to replace the roof or repave the parking lot, but minor improvements go a long way. Pressure washing the building, cutting overgrown grass, trimming trees, or touching up paint can instantly make your property more appealing. These small investments often yield outsized returns.
Emma McDaniel, CCIM
📞 864-580-1131
📧 emma@mcdanielandco.com
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