Given the status of the global economy, there are reasonable pressures on commercial property sales and leasing activity. That being said, business and commerce still continues and is currently adjusting to the new business circumstances.
Property owners and landlords need to accept change when it comes to property values and property rentals. Failure to accept change will see substantial delay in selling a property and increased vacancy factors when it comes to leasing.
One common trend noted today in commercial property centers on the significant difference between those property investors looking for higher inflated prices when selling their property, and those that have accepted that prices have fallen. Properties that are listed at an inflated price remain unsold for many months if not over a year.
Some clients think that is acceptable to wait for the ideal property buyer to come along; the reality is that buyers understand the property market and are not going to set a new benchmark on price above that which is acceptable today.
Commercial property agents today should only work with those clients that are realistic in their expectations of marketing, pricing, and rentals. To a degree the best way to flush out property owners and their intentions is through choosing a method of sale that will provide sale momentum to a time frame. Typically that will be the auction method, the tender method, or expressions of interest.
Properties that are put on the market at an inflated price to test the enquiry usually remain unsold for a very long period and may even totally stagnate when it comes to inquiry.
So the best strategies to sell or lease property today involve a mixture of some or more of the following:
Understand the location and proximity of competing properties before you take your property Meltwater Definition to the market. Investigate the rentals and prices being asked for those competing properties
Choose a method of sale or lease that suits the local level of enquiry currently. Professional commercial property agents will understand the existing trends and the sources of enquiry. They will have a database established from other campaigns and other quality properties.
When selling a property, be prepared to choose a timed method of sale with vendor paid marketing to initiate reasonable momentum and levels of enquiry. The marketing campaign should be directed to the target market that best suits the property type.
Property agents today need to do a lot of direct marketing when it comes to listings. This means lots of personalized phone calls and direct letters.
When leasing a commercial property, be prepared to offer generous incentives to entice tenant enquiry. Those incentives Postindustrial Economy should be provided on the basis of a lengthy lease with a reasonable rent review terms and conditions over the lease term.
When you understand the existing and prevailing industry trends, every property listing can be optimized for the available enquiry in the local property area. Commercial property should today be marketed through an exclusive listing process. …