How a commercial real estate building may be used can vary significantly. I am referring to properties in our Saskatchewan market that may be used as office, retail or warehouse. There are unique examples where all three types can cohabit.
Our job as an agent is to paint the picture for our buyers and tenants. In cases where a property has been on the market for some time or developed an unfair reputation, that vision can be difficult to create. But I believe every building has a purpose and a user. We are assigned the task of matching the two parties. Our goal is to develop ways to promote the property in the best light possible.
It may be necessary to let prospective buyers and tenants know what the building has been previously used for and how it could be repurposed within that particular zoning. Our job is to think of all of the possibilities which may fill needs that exist within the community.
Some users are lucky enough to find that a vacated space is a glove fit for their business because someone likeminded set it up for their use already. A restaurant, as an example, may have kitchen services already set up which only requires minor modifications.
Fully understanding zoning and permitted uses is one of the biggest responsibilities that I consider when showing property. I will qualify tenants or buyers ahead of meeting them at a property to make sure their use complies with the City of Saskatoon or governing authority.
There is nothing more disappointing for buyers or tenants than falling in love with a property and finding out that is not going to be possible to run their hair salon or pizza take-out in their chosen location.
Part of the process of educating tenants and buyers could be to explain the importance of signage site lines and/or daily traffic volume counts.
Explaining the proximity to applicable services or amenities can profoundly affect an owner’s decision to purchase in a particular area. Likewise, tenants want to ensure they are settling roots somewhere they can be successful. Putting a restaurant user in the middle of an industrial area, although it could be permitted, may or may not be the best advice.
I spent a few minutes last night taking my husband on a walk with a little experiment in mind. I can now confidently say that a new development Barry and I will be marketing is literally under a two minute walk from City Hospital and only about eight minutes from the riverbank and Meewasin Trail. Taking the time to discover how to frame these amenities with the right words can impact the resulting appeal.
My goal is to always preview spaces so I know what I’m walking into. My version of “show ready” space and that of a landlord, seller or even another agent can be quite different. Unless properly prepared, a client can easily be turned-off even though the deficiency may be easily remedied.
If I’m working on a listing for a client, I will not hesitate to provide advice on how to prepare that property for showing. This can be as simple as some weed control in the parking lot or cleaning the carpet.
I have been caught in the past by skipping a preview and just heading out with clients. I once took clients to a vacant property where the front steps had not been shoveled in weeks. Asking them to trudge through two feet of snow was not the best start to our showing.
I made a mental note to myself not to get caught like that again. I would cruise past ahead of time and carry a shovel when I had an inclination there might be snow.
We know that not all property works for every client; it is a vital part of my job to make sure I’ve done everything I can from the listing side and/or the leasing/selling side to create the best match possible.
Do you have any ideas you can share on “setting the mood” for a showing or getting more action on a listing?
Posted by Kelly Macsymic