In commercial real estate brokerage, you will always have some listings that just do not move or create the enquiry expected. That can usually be for any of a combination of reasons such as:
- Market conditions
- Competing properties
- Lack of targeted enquiry
- Seasonal market pressures
- Price or rent over market
Those listings invariably stay on the market for a long time; they have to be re-positioned and or rehabilitated. The client should be part of that process. Ultimately the client wants a result. (NB – you can get our specialized commercial real estate broker course right here)
Those clients that fail to adjust to market circumstances deserve what they get (or fail to get). The best clients will always listen to market circumstances and allow their agent to refresh the property and push on with other marketing and pricing ideas.
A Brokers Job
Our job is to match the strengths of the property listing into the market conditions and make things happen. It is also our job to resolve the weaknesses that may be present in the property so results can happen with inquiries, inspections, or offers. There are some real skills to be tuned and developed there.
In this audio program, John Highman talks about the ways that you can and should approach those difficult commercial property listings to get better results.