When listing a commercial property for sale or lease it is the facts and evidence of the market that will help the listing process. Far too many real estate agents will list a property at the price that the property owners want with no reference to the existing market or local price history.
Here is a fact. The first 3 or so weeks of the marketing of any property for sale will make an impact on the target market be it good or bad. If you get the price wrong you have just killed the property and the market. In about 5 weeks the property has gone cold and enquiry will lessen.
Property owners that want a high price or rent and then list the property that way, are actually killing their own target market and any enquiry at the very beginning; this is a really dumb move given that the first marketing impression is the most important. In many cases today the number of qualified buyers around has lessened and consequently the real estate agents have to work with a smaller number of enquiries.
» Read more: Commercial Real Estate – Remembering Market Facts and Details
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