The digital age has streamlined the investor’s process of finding profitable commercial real estate properties for sale with numerous listing platforms that house all asset types. Access to a large number of platforms and data on properties may be deemed overwhelming for first-time investors or investors looking to expand into a new asset class. Knowing exactly what site to search for a specific asset type makes the process less complicated.
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Which CRE Property Type is Best for You?
The first step for investors new to commercial real estate or diversifying their portfolio is to identify which commercial property type they wish to purchase.
Many commercial real estate asset types vary in risk and reward, depending on the current market trends and geographical location. Some of the most common are:
- Office
- Retail
- Multifamily
- Industrial
It is essential to note the risks and potential for return on investment on each property type to help drive the decision-making.
Searching On-Market vs. Off-Market
You can look for traditional commercial real estate listings on the websites listed below, pursue off-market investments, or rely on professional networking to find investment opportunities.
The different properties from all asset classes fall into three distinct categories of a search when they are for sale: on-market or traditional, off-market, or professional network.
On-Market Commercial Listings
On-market commercial or traditional listing search is the most common way to identify commercial properties for sale. These are properties currently on the market, listed in the Multiple Listing Service, and openly accepting offers from all investors.
The bulk of commercial property sales are on-market properties, so the chance of some competition from other private buyers or commercial real estate investment conglomerates is high.
Off-Market Commercial Properties
In contrast, off-market properties are not currently for sale by the owner or actively listed on any commercial real estate listing platforms. Some listing websites allow investors to identify which properties are likely to sell in the near future (those that haven’t sold in the last ten years or those with high vacancy rates). Using these online platforms, investors can contact the owners of these properties directly and make an offer.
Investors do not face competition with off-market sales because the property isn’t listed on any MLS services or traditional listings sites. Also, investors can identify properties in specific areas or asset classes without waiting for the ideal property to come on the market.
Professional Networking
Professional networking can be one of the best ways to find the ideal investment property.
Brokers, property managers, and other commercial real estate professionals have their fingers on the pulse of the local market and know all of the inside information. If an investor is looking for a specific property type or wants to invest in a particular neighborhood, it’s time to make those desires known to their professional network.
A professional network with an ear to the ground from being in the industry will be on alert when something becomes available. An investor’s network can help them make an offer before other investors catch wind of new listings.
A significant step to professional networking is joining a national or local organization. Many of these groups provide networking opportunities, conferences, and other ways for brokers, property managers, appraisers, developers, investors, and other real estate professionals to connect. Here are a few of the larger commercial real estate networking organizations:
- The Association of Commercial Real Estate Professionals
- NAIOP, The Commercial Real Estate Development Association
- Commercial Real Estate Women
- International Council of Shopping Centers
Top 8 Commercial Real Estate Listing Platforms
There are various commercial real estate listing platforms for investors to use in searching for new properties. Discover the most popular listing sites below.
LoopNet
LoopNet is the most-known commercial real estate website with over 1 million properties sold. The website features more properties from all asset classes than any other platform – 500,000 available at any given time.
In the last year, the website received about 1.3 billion visits. The site’s popularity is a positive and negative factor. Properties listed on LoopNet receive multiple offers and have a high competition rate.
Crexi
As a relatively new platform founded in 2016, Crexi has quickly become one of the industry’s leaders. The site was created and is run by former brokers and other real estate professionals who used their inside knowledge and experience to build a place to help connect investors with the ideal property faster than the competition.
Crexi features investments in all asset classes for both investors and sellers. Also, the platform features an auction component, where investors can bid on available properties, removing the back-and-forth of negotiations.
QuantumListing
QuantumListing is the top option for investors who do not want to commit to a paid membership. The site allows properties to be searched by geographic location, asset type, cost, and more.
Additionally, the listing site offers a collaboration tool for real estate teams and broker networks. Investment groups are given the tools to work together to find the ideal property.
Reonomy
Reonomy is the leader in the off-market search for commercial real estate properties. The listing platform gives investors access to more than 50 million off-market properties in various asset classes.
The user-friendly platform features filters and other tools to help investors identify properties most likely to sell soon or properties facing potential financial difficulty.
Craigslist
Yes, it is true. Craiglist offers more than just people selling goods. The website is not flashy or user-friendly as the previously mentioned site. It is not uncommon to find commercial real estate gems hidden inside.
Multifamily Listing Platforms
Most residential real estate giants use the sites Zillow, Trulia, and Realtor.com for their listings. They don’t feature much in the way of commercial real estate listings of all asset classes, except multifamily property.
If you’re an investor looking to expand your portfolio or want to buy your first investment property, Lumicre, LLC is one of the top commercial real estate firms in Texas with a proven success model. Our team of experts help investors identify the perfect property to meet their goals. Contact us today to speak with an expert and reach success in your next commercial real estate project.
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