In this commercial property market, the method of sale that you choose as the real estate agent in selling a property is critical to the outcome. Every time you do a listing for sale, carefully consider just how you should take the property to the market. Make the right choice based on facts and not your preferences. Wasting time and experiments in selling are not good options in this property market.
You do have a few choices such as:
- Sale at a price
- Sale with no price
- Sale by negotiation
- Sale by exchange
- By Tender
- By Expressions of Interest
- By Auction
The right method of sale is the one that matches the property type in the current location, given the way in which the buyers like to buy. If the buyers do not like the method of sale, it will stifle enquiry and they simply will sit back and see what happens.
Let’s take the auction method of sale for the property as an example. Not everyone likes to act in an auction and unless you think you will have plenty of enquiries for the property when you go to auction, it can be a difficult process of sale; invariably the property may go to auction and be passed in. All your hard work in marketing and inspecting the property can be lost effort.
Far too many agents choose the method of sale that suits them with little regard for the facts of the market and buyer trends.
When you get the method of sale correctly chosen and established, an enquiry should start and inspections should occur. Remember that the first 3 or 4 weeks in any marketing campaign are really important; if you waste that time with a poorly chosen method of sale, everything you do will be lost. In this property market that is not a good idea.
Make the right sale choices in this market, and give the client the right reasons to proceed with your recommendations. Everyone wants a good result. Know what the buyers want today and tap into it.