Thursday 01 November 2018

Christmas is Coming!

Three months until Christmas.

Or in Commercial Real Estate terms, 7 weeks until the industry starts shutting down.

As dramatic as it sounds, every industry has its seasons. Commercial Real Estate seems to start its Christmas Season the week after Melbourne Cup and starts to pick up late January early February.

This essentially means 7 weeks for Property Owners to secure Leases or Sales on their properties.

7 weeks for Tenants to secure a property if they want to move their team in before Christmas.

Essentially, if a property isn’t Leased or bought before the second week of November, the owner then has a long wait until the market starts picking up again late January early February.  It is important owners who have their property on the market start to get their property Tenant or Buyer ready now:

1. Speak to your Agent, ensure they have a proactive marketing campaign in place for your property.
2. Are you listed correctly on the various portals? You really need to ensure your property is at least an Elite with Real Commercial and a Platinum on Commercial Real Estate. Both have affordable specials on at the moment.
3. Get in the mindset to be ready to go when a suitable offer comes in.
4. Have your solicitor organised and motivated to turn around any Lease or sale quickly.
5. Ensure you have a fit-out company on standby to move quickly for when you receive an offer. Bear in mind that the trades often shut down over Christmas.
6. Better still, start getting your property turn key ready now.
7. Make sure your property is presented in the best light – neat, tidy, clean. Does it stand out from other on the market? Does it need to be made into smaller Tenancies as per the current market demand?
8. Is the signage advertising your property in the best location? Facing the traffic?
9. Are the photos of the property bright, light, showing the best features of the property? Have they been professionally done.
10. Do you have floor plans for your property?
11. Is the property priced right for the current market?
12. What feedback are you getting from your Agent and the viewings they are having?

If Tenants and Buyers are out looking in November and December then we know they are pretty serious and should result in a quick turnaround in any offers to Lease or Buy.  If Tenants are looking in January or February they will tend to be looking at a March/April occupation.

Get Tenant or buyer ready now and ensure there is regular dialogue with your Agent.

yourcommercial.com.au | 07 3148 9901 | sales@yourcommercial.com.au