The suffix “properties” is the only thing common between commercial and residential properties. It is not until we get in deeper, that we get to the actual perception. Here’s a few differences between commercial and residential properties you should know:
1. The name says it all
As the word “Commercial” suggest, these types of properties are more focused on the business gains they can cultivate. It always has a financial motivation to follow and based on that, the related processes are designed here. On the other hand, residential properties are more personal oriented. As the residence is the prime intention for these, they are more focused to provide a “live-able” environment to the buyer.
2. Selling Differs
Selling a commercial property is a game of numbers. Careful calculation about the potential profit from the property is the prime stimulus in this case. Residential properties are more towards appealing for the emotions. The buyer’s willingness to invest depends on how homely he feels it to be.
3. Different Domain Different Agents
For residential properties, the sellers represented by the agents generally don’t have more than fourplex properties.Even for the buyers they’re looking for just as much or less.The commercial property agents on the other hand need to have some additional knowledge. They need to have the knowledge about the potential profit the property can provide the concerned business parties so as to be able to aid his clients.
Therefore, it is necessary to have the knowledge of the difference between the two kinds of properties to be able to survive in the market efficiently.