Lights, Camera, Action, SELL! The Impact of Staging in Real Estate
Staging is a hot topic in the residential real-estate world. If you are selling your home, chances are your realtor has discussed the importance of making your home attractive to potential buyers by setting up various portions of your home in their ideal state. In other words, keep all countertops clean and generic, replace family photos with art prints or less-personal elements, keep bathrooms clean and looking “luxurious”, etc. While these same exact examples don’t apply to commercial real estate, staging does play a part in selling your business or commercial property.
How do you incorporate staging into your space?
First, do a walk through from the parking lot to the front door. Is your entryway looking scruffy with weeds on the sidewalk, dirty windows and doors, or chipping paint? Freshen up the area, consider adding a coat of paint in a complimentary and/or neutral color, and improve the look of the entrance from the street. Depending on the type of business, improve your entry inside the building with an umbrella stand/ coat rack, a sign (for larger spaces) that gives basic direction on where to find what, and a durable rug that will hold onto dirt and absorb water to keep your floors looking fresh.
Next, do a scan of your space from the door of each room. If anything is closely tied to your own specific business, try to replace it with something a little more generic if possible. While we know you can’t completely stage a business since you likely have to remain open until you make the sell and move to your new location, you can make small changes to help potential buyers see themselves in the space with their business.
Finally, have the commercial space deep cleaned, and freshen up interior paint and trim, any lighting or plumbing (like a new toilet if the old one is grungy), and flooring. Investing a little bit of money into your property can actually save money in the long run, since you’ll likely make the sell more quickly, and spend less time and resources maintaining a space that you want to move out of.
Are you ready to sell your commercial space, or would like to rent it out while you pursue other endeavors? Lorio and Associates is here to help. We serve the greater Lakeland, Florida area with commercial real estate and property management services, and our goal is to treat your space like our own. Give us a call to get started!
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