When you sell a commercial investment property, the price you achieve is driven by the market. It is the buyers in the market that generate the interest and ultimately make the offer.
Contrary to popular belief it is not the sellers or the real estate agents that set the final price. What the sellers want for their property and what the agents think they can get are in reality an educated guess or wish based on market trends and sometimes other pricing evidence. In saying that, the end price for any commercial property is driven by the buyers in all cases.
If a sale goes ahead it is because the buyers are willing to pay the money; sure the seller has to accept that price, but without a buyer making the offer, the price for a property is just a number. At times the real estate market can be ‘saturated’ with overpriced properties. Time on the market is a big factor in any property sale. If you are ready to sell your property, then consider a ‘fair’ price, but not an ‘excessive’ one.
Real estate agents offer their clients real benefit to the sale process because they are working with buyers and tenants all the time. The database that an agent has is a huge source of opportunity when it comes to selling your property.
The bigger and better the database, the more exposure to qualified buyers your property will have. This massive exposure that some agents have to buyers is of great advantage to you when you want to sell the property.
At the time of putting your property on the market, find the agent with the best and most up to date database of potential buyers; it will be a direct reflection of their market penetration and territory domination. They are the agents that should sell your property and they are the ones that will have an idea of what buyers are willing to pay in the current prevailing economy. Make the right choice and get the best agent to help you sell your property.