Sell My Commercial Real Estate in Lubbock TX

Selling commercial real estate has always been a complex and time-consuming process. Traditional sales methods often involve lengthy negotiations and other hurdles, adding both time and uncertainty to the process. As a result, many are turning to commercial real estate auctions as a faster, more reliable way to achieve a quick sale. If you are visiting our website, you’re likely here to learn how the process works. You may find yourself asking how to sell my commercial real estate with the support of a dedicated and knowledgeable team.

By explaining the benefits of working alongside a professional real estate broker, you’ll understand how the auction process can help with selling your commercial property. We’ll highlight each step of the auction process, from submitting your property for consideration to closing the deal. 

Why Sell Commercial Real Estate Through Our Auctions?

Wondering why sell my commercial property through an auction? There are numerous benefits associated with selling at auction in the commercial real estate market. Selling your commercial real estate through auctions in Lubbock TX offers several distinct advantages compared to traditional real estate sales, such as: 

• Faster sales process – Auctions have strict time frames within which they are conducted, leading to a faster sales process when compared to traditional real estate transactions.
• Serious buyers only – People who attend real estate auctions are actively looking to purchase property, making them qualified and committed buyers.
• Competitive bidding – Bidders always compete in real-time, which can drastically impact the final sale price and maximize your property value. The competitive bidding environment leads to buyers engaging in a competition to ensure the property is sold at a fair market value. 
• Transparency – With buyers bidding in real-time, real estate auctions have clear terms and visible bids, leading to an open auction process that’s fair for both sellers and buyers. Sellers also benefit from the transparency of the auction as they are aware their property is sold fairly.
• Access to a broader market – Auctions can help you reach a wider audience with rigorous marketing efforts.

How to Sell Your (MY) Commercial Real Estate in Lubbock TX through Auction Section

Understanding the advantages real estate auctions offer, you may be wondering how these auctions work. Our “Sell My Commercial Real Estate” process is designed to make selling your property fast, easy, and effective. Here’s how it works:

1. Submit your property for consideration
2. Create a customized auction plan
3. Promote your property to serious buyers
4. Real time auction and competitive bidding
5. Close the deal and transfer ownership
6. Submit your property for consideration

The first step in selling your commercial real estate through an auction is submitting your property for consideration. Our team will conduct a detailed review of your property’s condition and unique features to determine its appeal to buyers. Remember that your property’s value is highly based on its location, square footage, and amenities.

Once your property has been reviewed, we will design a custom marketing plan that will expand the buyer pool; both financially and geographically.

2. Create a customized auction plan

Creating a customized auction plan involves developing a  strategy tailored to your property. We specialize in creating professional listings so bidders can learn more about what the property offers. To make them more compelling, we always ensure they’re enriched with high-quality photos and videos, as well as a detailed property description.

Once we’ve outlined these essentials, we focus our attention on creating a comprehensive marketing campaign that showcases your property and its unique aspects. Depending on your target audience, we’re ready to utilize various advertising tactics to promote the commercial building to serious buyers.

3. Promote your property to serious buyers

Once we’ve crafted the marketing strategy, we’ll begin promoting your property to serious buyers. We utilize targeted marketing efforts to ensure wider reach while also attracting serious buyers with relevant demographics. We take pride in making data-driven decisions that focus on expanding your property’s exposure and maximizing the overall bidding interest.

4. Real Time auction and competitive bidding

The most important step during the selling process is the auction and competitive bidding. Our auction platform offers real-time bidding, leading to a dynamic and competitive environment. Not only does this increase your property’s interest, but it can also raise the final sale price. Furthermore, live auctions remove buyer uncertainty by providing transparent bidding, letting buyers see competing offers instantly. This clarity boosts their confidence, encouraging faster, stronger bids and accelerating the sale.

5. Close the deal and transfer ownership

Since the main goal of real estate auctions is to accelerate the sales process, they’re designed for quick and efficient closures. Even though the time frame for closing the sale may vary depending on your circumstances, most transactions are finalized within 30 to 45 days post-auction. 

Our team will provide all the necessary support to ensure the closing process doesn’t encounter any potential obstacles. Whether it involves guiding you through final paperwork or coordinating with the buyer, you can always rely on our team to help you transfer ownership. 

Benefits of Selling Commercial Real Estate Through Auction Section

When you choose Auction Section to sell your commercial real estate in Lubbock TX, you gain access to a range of benefits that help you achieve a successful, timely sale:

• Maximized exposure
• Fast sales process
• No lengthy negotiations
• Transparent process
• Pre-qualified buyers
• Professional marketing
• Flexible auction strategies

FAQs About Selling Commercial Real Estate Through Auction in Lubbock TX

How do I start the process of selling my commercial real estate through auction?

To start the process of selling your commercial real estate through auctions, consult with our Auction Section professional. Once we have created a customized auction plan and submitted your property, we’ll conduct the auction and help you finalize the sale for a smooth property handover.

How long does it take to sell my commercial property through auction?

The time it takes to sell your commercial property through an auction can vary between 60 and 90 days. Although the auction action itself is primarily one day, the marketing preparations and sale finalizations take approximately 30 to 45 days.

How is the reserve price set for my commercial property?

Even though it can be based on the auction strategy, it highly depends on your financial goals and property qualities.

What types of commercial properties can be sold at auction?

Since real estate auctions deal with different types of commercial buildings, some of the most common options you’ll find are office buildings, retail spaces, industrial properties, multi-family commercial units, hotels and hospitality properties, and land for commercial development.

How do I ensure my property is marketed to the right buyers?

To ensure your property is marketed to the right buyers, we need to develop a comprehensive marketing strategy based on our target audience. While we can always host pre-auction events and tours, remember that professional listings with compelling visuals can make your property stand out. 

Can I sell a property with existing tenants?

The simple answer is yes, you can sell a commercial property with existing tenants. However, it’s important to review your local laws and lease agreements to ensure tenant rights and provide the buyers with as detailed tenant information as possible.

Contact Auction Section Today

If you’re looking for the best way to sell my commercial real estate, remember that you can always contact us at the Auction Section, and we’ll happily guide you through the process. To get in touch with our real estate broker directly, dial (713) 594-1576 for Mark Thomas or (713) 702-3666 for Logan Thomas. Reach out today to learn how real estate auctions can generate urgency and increase interest in your commercial property!