Clear Sale Marketing Recommendations
So, what is the ‘best method of sale‘ for commercial property? As the agent, you need to make a clear and solid recommendation to your client.
You may be forgiven for thinking that a sale at a fixed price is an effective and trusted method of sale. There are a few problems with that, and most new or inexperienced agents will happily take a listing at a price. Consider, however, the following:
The owner of the property is likely to choose the most convenient and cheap method of sale for them. You need to control and re-direct this misplaced focus.
Before the final decision is made regarding the marketing campaign for a property, the method of sale will need to be chosen wisely. There are several alternatives to be considered, and make the following comments to assist you here.
The Importance Of Market Research For Commercial Real Estate Broker
Commercial real estate brokers are responsible for helping clients find the best possible deals on commercial properties. To do this, they must have a thorough understanding of the current market conditions and trends. This is where market research comes in. To get more details about commercial real estate brokers, you may browse Kirby Properties.
Gaining an Understanding of the Market: Market research is essential for commercial real estate brokers to gain an understanding of the current market conditions. This includes understanding the types of properties that are in demand, the prices that are being paid in the current market, and the trends of the market. By understanding the current market, brokers can better advise their clients and help them make informed decisions.
Identifying Potential Opportunities: Market research can also be used to identify potential opportunities in the commercial real estate market. By understanding the current market conditions, brokers can identify properties that may represent good investment opportunities for their clients. This can include properties that are undervalued or properties that are in a good location with potential for growth.
Staying Up to Date with Market Trends: Market research is also essential for commercial real estate brokers to stay up to date with the latest market trends. By monitoring the market, brokers can identify any changes that may be occurring and adjust their strategies accordingly. This can help brokers stay ahead of the curve and ensure that their clients are taking advantage of the best possible deals.
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Client Conditioning
Unless you particularly want to (and think you can) condition the seller to a lower price, then you could be wasting your time -
Sale By Tender
This is a good method of sale. This method of sale has the advantage of removing the asking price; the onus shifts to potential purchasers to come in with their own estimates of market value.
Although tenders have become a more acceptable method of selling commercial real estate in today’s market, many ‘first time’ purchasers are inexperienced in tendering and are reluctant to become involved. The uncertainty and time delay between submitting the tender and knowing the result also can deter some of these buyers at the lower end of the market.
