When any commercial property is taken to the market for sale, the correct property research has to be done. Today we find that prices and methods of sale are shifting so much, the accurate decisions are needed to sell effectively. Research is the only thing that will help the decisions process.
Market research to help the sale process should include the following topics:
- The time on market that the average property is taking to sell
- The best methods of sale that are producing the outcomes today
- The correct type of listing to help the property sell
- The best type and conditions of contract to be used when the parties are to close and sign the final sale agreement
- The marketing methods that tap into the buyer enquiry
- The activity of the buyers in the target market segment that suit the property
- The price ranges of properties coming on to the market
- The end result sale prices that are achieved in a final sale of the property
- The types of due diligence that buyers are seeking for the different property types
- The types of finance that will work on the end result contract and sale
The problem is that all of these things shift and change as the year starts and progresses. Any one of these items could and will likely be different on a weekly basis.
To be an effective real estate agent today, the salesperson listing the property has to know all of these things and just how to combine them to achieve the timely sale at the best possible price.
Every one of these items on the inventory can be critical to the list, market, and sale process. That being said, the presentation and pitch process by the agent should incorporate them into the information provided to the seller. In that way the seller can see just what agent really does know what is going on out there and how to tap into the opportunity of the property market today.
Far too many agents do not come to the listing presentation fully prepared to talk through these key issues. Good market research and information will always help the presentation, list, market, and sale process today; it can even be said that the right research will help the end result price for the seller.
So what does a good commercial real estate agent look like? The best combination of the following skills in the selected salesperson or agent can help the seller get the timely sale that they seek:
- The right agent that really knows the market facts and trends including all the issues listed above
- The top methods of sale and marketing to promote the type of property involved in the sale
- Excellent inspection skills that comprehensively capture the features and facts of the property so they can be promoted to buyers
- The best negotiation skills to close the deal at the right time and at the best outcome for the seller
- The accurate documentation skills to capture the end result sale correctly
- The best and most comprehensive database to apply to the property listed
When an agent builds their skills around this skill base, the sellers know they are choosing an expert to help them in the sale process. That is what successful commercial real estate is all about.