In this property market, and in taking a commercial property to sale as a real estate agent, everything you do is all about strategy. The best method of sale has to be chosen and that decision should be based on the local area and the needs of the property.
The Facts of the Property Market
Let’s face the facts of the property market today; buyers are less active and are more selective in making a property purchase. This then says that they will only respond to your marketing campaign if you select the best method of sale. So what choices do you have?
Here are the main ones:
- Sale at a Price
- Sale without a Price
- Sale by Negotiation
- Expressions of Interest
- Exchange of goods
I find that many agents and salespeople choose a method of sale based on what they ‘prefer’ and not necessarily what the market will respond to. Some sellers of property will also choose a method of sale that suits them and may ‘buck the trends’ of the market. The only way you can choose the best method of sale is to know the buyers and what the property inquiry is doing today in your local area.
Information is everything today and how you use that information will help your listing processes, inspection strategies, and negotiations. If there is one secret to building your commercial real estate sales business today it is in building your database.
Talk to lots of people in the local area as part of your prospecting model, you will find the buyers and the property investors that can act if and when the right property comes along. This knowledge helps you match the property to the best method of sale and the right buyers.
This is the Real Deal
Selling commercial and retail property today is not an experiment; it is a targeted process of strategy and choices. You are the expert agent that can help your clients through the selling equation. Make the right choices and the commissions will come your way.