What are off market commercial properties?
Off-market commercial properties are those that are not listed publicly by a brokerage on the marketplace for sale or lease. Instead, they are handled privately, often through personal connections or specialized networks. These investment properties are not advertised or promoted to the general public, which means they can be a bit of a hidden gem.
So why would someone choose to keep a commercial property off the market? There are a few reasons. For one, some owners prefer to maintain a level of privacy when it comes to selling their property. They may not want the whole world knowing their business plans.
Additionally, off-market properties can offer a more exclusive opportunity for buyers. Since they are not widely marketed, there may be less competition and a greater chance to negotiate favorable terms. It’s like finding a secret deal that only a select few know about.
How can I find off market commercial properties?
#1 Networking is key.
Building strong relationships within the industry is crucial. Attend local commercial real estate events, join professional organizations, and connect with other commercial real estate professionals. Letting people know what you’re looking for might lead to an off-market property opportunity.
#2 Reach out to property owners, brokers and investors directly.
Sometimes, the best way to find off-market properties is by directly contacting property owners. Use your detective skills to identify potential properties in your area and reach out to the owners about their investment. You never know, they might be willing to sell but just haven’t listed their property yet. People that are thinking about becoming sellers might make the plunge if they can sell off-market.
#3 Utilize online platforms and databases.
Off-market properties are not readily available on popular listing websites, instead there are specialized online platforms and databases that cater specifically to off-market deals. Do some research and find these hidden gems where you can access exclusive off-market commercial properties. One up and coming one for commercial real estate is Real Estate Bees. They are mostly for residential off-market properties right now, but they are gaining ground in commercial properties.
#4 Local market knowledge.
Being in tune with your local market is essential when searching for off-market commercial properties. Stay updated on the latest news and developments in your target area. Talk to local business owners, attend community meetings, and stay connected with other real estate professionals who have their ear to the ground. This insider knowledge can give you an edge in finding off-market opportunities.
#5 Utilize social media & email lists.
Social media groups specializing in commercial real estate on LinkedIn and Facebook can be great tools for finding off-market properties. Join industry-specific groups, participate in discussions, and connect with professionals who may have insider information on off-market deals. Also, email lists like BigBoysBlast.com will have the occasional off market properties for sale.
#6 Benefits to buyers.
Buying off market can offer potential buyers a better deal. Sellers may be more willing to negotiate on price and terms when dealing directly with interested buyers, rather than going through the traditional listing process.
#7 Benefits to sellers.
Off market sales often involve fewer fees and commissions, allowing sellers to maximize their profits. Commercial property listings that are off market can be a strategic move that offers financial advantages and exclusive access to lucrative investment assets.
By tapping into this hidden market, you can unlock a world of exclusive opportunities. From the potential for higher sale prices to the ability to access unique investment options, the benefits of off market sales are undeniable.
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If you’re nodding along, let’s get started! Schedule a call or zoom.
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