In commercial real estate agency today, you will still find clients that are looking the best price or rent for his or her property no matter market conditions locally. Unless the customer owns a great property, it's unlikely that any price or rent offer will reach their required benchmark.Property agent
An overpriced property gets quite stale available on the market quickly. The buyers and tenants from our area know what the real prices are and won't generally make an offer on something that is beyond market evidence in price or rental. In case your client chooses to list out with a high price, they risk destroying any enquiry that may have come to them. You may also be costing you time.
The next question will probably be whether you want to take with an overpriced listing. Some agents is going to do that for the potential for manipulating the stock and conditioning your client. Are you going to, but you will n't need to be known as the agent that may list anything at any price. Additionally you don't want to be referred to as agent that will list and not covert the listing to a finalised transaction.
Here are some tips to help you with overpriced listings and clients that refuse to listen to sound judgment:
Make sure that you might be talking to the real decision maker. In corporate commercial property it isn't unusual to have a 'middle manager' make the first enquiries or approach. Respect their position and recognise that they might be talking to key people under the surface.
Inspect the property with all the client to help you both discuss the features of the property as you see them today as well as in the present market.
Get your client to let you know the history of the property and why they are. Also ask the client to inform you why they think someone should purchase or rent the house. Your comments ought to will give you some leverage to discuss the existing market today.
Give some facts and information regards the present property market with a few real concentrate on comparable properties that exist currently available. Compare those properties to people who did sell or lease. The purchase price or rent differentials will become important.
Show the customer what sort of good property ought to be marketed today. When they desire to take their property for the market then they should provide you using a vendor paid advertising campaign as well as an exclusive listing. In mere like that is it possible to build the degree of inspection and enquiry that the property deserves.
Don't let yourself be too eager to jump into an overpriced listing. Consider all your options before you proceed and balance those options from the motivations from the client. Usually do not walk into the listing unless you feel that you are able to service it well.