Listing Commercial Property – How to Price a Property to Sell

When you list a commercial property as a real estate agent you have to get the price just right. The market buyers know what they want and what they should pay for particular property types. Pricing a property well is part of your selling strategy.When you make a mistake in the property method of sale and or the price, you can be wasting your time in the marketing of the property. Not a good option when the listing is to make a good impression in the local property market. You need good enquiry from the first release of the marketing campaign.Obviously the seller wants the highest price, but setting a price that is too high will kill the enquiry on the property in the early stages of the property marketing campaign. So you have to get the price just right.There are some clear rules when it comes to considering the price you set on a property. Help the client to understand the property market and the recent sales. Here is a checklist of the key issues that will help the listing process and the price setting for the property.What are the comparable properties on the local market now and what are their prices? How are they being marketed? Will they clash with your marketing campaign?
What are the sale results in the last 12 months of properties of similar type in the same local area?
What interest is there in the relative property type today? Is the property unique or special in any way that can impact the price?
How old is the property and has it been well maintained? Given that fact, how suitable is the property for further occupation and performance as a property investment?
Where will the buyer come from? Are they likely to be local or from outside the local area?
What specifically is the profile of the typical buyer of the property?
What is the supply and demand for space to occupy in the local area?
How much other space is coming on the market by way of new projects and properties in the next 24 months?
What are the services and amenities in and around the subject property and how capable are they of continued performance for the building occupants or owners?
What is the best method of sale for the market today given the particular property type?
What is the time on market at the moment in the sale of this type of property?These questions will help you with pricing the property. It pays to discuss these points with the seller of the property so they know the key issues that underpin and support the sales strategy that you choose.

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