Experts agree the single most important thing you can do before listing your commercial property for sale on the open market is this: price it right.
Here are three main reasons why:
- Even in real estate, first impressions are lasting. A smartly priced property will generate and maintain much more attention from the start.
- A property priced too high often sends the wrong message, especially to a savvy buyer or cooperating broker actively seeking only sensible opportunities offered by serious sellers. The fact is most prospects initially operate in a cursory “know it when I see it” fashion and take then the time to dig deeper once their interested is piqued. Failing to develop the initial interest due to an unrealistic listing price could serve to make your listing a nonstarter.
- Relying on a pricing strategy which employs a series of price reductions is generally not a good plan. To begin with, after each price change the task of making all interested parties (past and future) aware of the price change can be difficult. Multiple price changes can also send out the “only testing the waters” impression and that’s one fishing trip serious prospects are adept at avoiding. Lastly, many smart and well advised buyers routinely interpret successive price reductions as growing desperation on the part of the seller.
While not an exact science, setting your sights on the center of the pricing target is the best way to bring your commercial property to the market. For objective and reliable assistance in establishing a sensible list price for your commercial property and featuring your listing on CapeCodBusiness.com™, please contact me. Working together we can pool our resources and experience to help you get what you desire: getting to the closing table in the most optimum time frame with an agreement that makes good sense.