Top 5 Warehouse Selling Points |
4 Biggest Myths in Industrial Real Estate1. It doesn't matter what agent you choose.It absolutely matters what agent you choose to market and sell
your Miami warehouse or Hialeah warehouse. 2. Overpricing your property at first doesn't hurt.At least you tried right?No! Other buyer brokers in the market, your warehouse's best selling team, only make money if their buyers buy. As the chances are significantly reduced they will make a deal on a warehouse whose price doesn't meet market expectations, their time is better spent on properties with more realistic asking prices. This disincentive causes a major portion of the potential buyer pool for your warehouse to look at competing properties first, if not only.I can always change my warehouse listing price later, right?Technically, Yes. But, you will loose the initial excitement that comes with a fresh new listing on the market. When your Miami warehouse is new on the market it receives the most attention by both the co-operating broker community as well as buyers in the area. When it's old news, buyers could have already signed somewhere else or made a mental note that your property was too expensive.In addition, when you finally change your price, depending on how long it was on the market, your Days on Market becomes higher than the market average. This results in low-ball offers because of a poor quality perception. Let's say your tolerance for risk is pretty high. Despite knowing the pitfalls of over-pricing, you believe the reward potential may still be high enough to warrant a possibly lower value and definite sacrifice of market positioning for your Miami Warehouse. Let's say you receive a full price contract. The transaction will still require an appraisal and the deal falls apart. Weeks later, back to square one. Lesson: price right the first time. 3. You should select the agent who says they can get you the highest price.No, you should choose your real estate agent based on their credentials, market value is a separate issue. Once you select your agent, based on their credentials, then you should talk about the appropriate price and contributing factors. 4. Lower commission means a higher net.It sounds logical, but it's not always true. You get what you pay for. A lot of sellers like the idea of a discounted commission until they learn that the salesperson won't do much marketing, advertising, or negotiating. This means you might not reach your ideal outcome on the sale. Once you go into detail on how a brokerage commission is split, you realize why it is near impossible to have a knowledgeable market expert dedicate the time necessary for a quick sale, at the highest market price, for a discount commission. |
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