Whether a medical group is pursuing a sale-leaseback transaction or is selling their medical real estate outright, they will need to know how to market their building to sell. But selling a medical property is not as simple as listing it online and waiting for the bids to come in. Unless the property falls within the value-add or opportunistic asset class categories, the owner of a medical property will want to make sure they sell their real estate at the highest fair market value. Marketing a medical facility takes time, resources, and industry-related contacts. While the comprehensive list of marketing tasks is quite lengthy, here are just a few suggestions for how to market a medical facility to sell:
Medical Real Estate Building Upgrades
Similar to residential properties, medical properties sometimes require upgrades before a buyer will be eager to make the purchase. Fortunately, many basic upgrades can also increase the value of the building while simultaneously attracting the highest bidders. Building upgrades can be as simple as new paint on the exterior, a fresh coat of paint on the interior, or new cabinet fixtures and doorknobs. More extensive building upgrades can include new flooring, updated windows, and additional plumbing or cabinetry in treatment rooms. The exterior of the property may also require a few updates, such as a repaved parking lot or all-new landscaping. Every marketable update helps improve the value, presentation, and curb appeal of the property.
Medical Real Estate Virtual Walk-Throughs
Technology has changed consumer expectations across all industries. In commercial real estate, many potential buyers will research properties online before even stepping foot in the market. Before they see a property in person, prospective buyers and their commercial advisors may already know intricate details like market data, square footage, parking options, etc. Sometimes, these specifications are all it takes to make or break their decision to visit a physical property in person.
To improve the property’s online presentation and widen the potential audience, medical groups should consider offering virtual walk-throughs of their properties. Investors from across the nation benefit from visualizing the interior of a facility before traveling to review tangible aspects. Some established medical real estate advisors will have connections with a company that creates 3D walk-throughs for commercial properties, or they will even be able to provide this service themselves.
Professional Help
Building upgrades and virtual walk-throughs are just a small part of marketing a medical facility. It also requires online listings, advertising emails, custom signage on the property, etc. Many medical professionals choose to hire medical real estate advisors to help walk them through the sale of their properties.
Medical real estate advisors have expertise specifically in the healthcare sector. Because their work is focused on medical real estate, they have industry-specific connections. They also understand what property features are more marketable to each type of medical group or health system.
A reputable healthcare real estate team also offers the technological and digital resources for marketing a healthcare property. They have graphic designers, curated email lists, and access to online listing platforms. As mentioned above, they also either have Matterport cameras to create virtual walk-throughs and floorplans, or they have a reliable third-party contact who will create a 3D tour for their clients.
HBRE is a team of highly trained medical real estate professionals. They offer extensive marketing resources to their clients and use their experience in the industry to accurately represent their clients’ commercial assets. They offer high-quality technological and digital services, and they also make it a priority to travel to sites in-person to research and promote the best aspects of the market. HBRE makes their clients their priority, marketing each facility to sell for the best possible value.
If you are interested in learning more about investing in commercial real estate, or if you have questions about buying, selling, or leasing a commercial property, please contact an HBRE advisor. Our team of experienced CRE professionals have the skills and insight to assist with all property transactions. To reach out to us directly, email [email protected] or call 615-564-4133.
