Selling medical office space requires extensive knowledge of the local market in order to secure the best deal. Having an agent to represent your best interests in the transaction will ensure that your property is being marketed fairly and aggressively to compete with comparable properties in the area.
What are the Challenges of Selling Medical Office Space?
Selling medical office space can pose a series of challenges if you aren’t quite sure what you are doing. For instance, not just any building is suitable for any type of practice. It is, therefore, imperative to know what type of practice the setup of your space is most appropriate for. Does it have the individual treatment rooms associated with traditional medical practitioners, or does your space boast a wide open, central area that may be more accessible to a dental office setup? These questions and more will help you to hone in on your target market. A skilled broker can help you to identify this quickly and easily.
Additionally, many medical offices appear on the surface level to be ready to hit the market, but a deeper look may reveal that the seller is not as fully prepared as he/she might think. Medical office space comes with its own set of stringent rules and regulations put forth by the government. Failure to comply with any and all of these can create unforeseen problems for the seller if the property is not up to par. Your broker should be able to skillfully guide you through the potential ramifications to help you see where you need to make changes prior to putting your space on the market.
What Else Will a Broker Help You To Achieve?
A broker specializing in the medical office space sector of the commercial real estate market will help to ease the process of selling your space immensely. These brokers have dedicated their careers to understanding the ins and outs of this particular market, and can offer you guidance and insight that you may not get anywhere else. Specifically, there are five things you can absolutely expect from working with a quality broker. They will help you to:
- Determine What Changes Need to be Made: Your broker understands that the medical real estate model has changed greatly over the years. Not only will they help you to make sure that your property meets all necessary rules and regulations, but they will also offer insight as to simple changes you could make to help your property appear more attractive to buyers.
- Determine the Value of the Property: Your broker will have access to view the existing comps in your area to help you determine the correct listing price that will leave both you and your buyer fully satisfied.
- Creating an Attractive Property Listing: Once your property has been analyzed, your agent will be hard at work creating a property listing that meticulously highlights its predominant benefits and features. Your listing will be aggressively published on a range of commercial real estate databases, websites, and marketing platforms that will help it to get the exposure and attention that it deserves.
- Target the Right Buyer: Your agent has the added benefit of access to a vast network of industry professionals. This is important to you because it could quickly help connect you to the right buyer or investor.
- Promoting Your Properties Unique Benefits: Your broker understands what your buyer is looking for and the specific benefits your property has to offer. This information will allow them to target the right buyers, as well as to showcase these highlights during a walk-through, creating a quick and successful transaction.
What Makes John Different?
With so many commercial real estate agents in the Tampa area, it’s important to understand what sets John apart from the rest. John’s extensive research in the areas of supply characteristics, demand drivers, market dynamics, trends, and portfolio strategy in the Tampa Bay area help his clients to secure a better understanding of the opportunities and risks they may face when making important decisions regarding their property. Pair this knowledge base with John’s pervasive understanding in the sector of professional and medical office space, his tenacious personality, commitment to his clients, and ability to utilize the breadth of the SVN brand to find quality buyers, and you are looking at a recipe for success. Success, to John, is defined as a sales agreement that is beneficial, simple, and ethical for both the seller and the buyer. He has made it his mission to constantly evolve and grow as the needs of the market do to ensure the he keeps a competitive edge and stands apart from his competition.
Your Medical Office Space Broker
If you are looking to evaluate your medical office space for sale or lease, or actively seeking a commercial office space in Tampa or the surrounding areas, contact John today at (813) 597-6600, or connect via the contact form below.