Obtaining the best Price
Obtaining the best Price
With the recent softening of REAL ESTATE property prices it is now more important than ever to obtain the highest price for your property. Every property owner wants to get the highest price whenever they’re selling or leasing their property. That’s one of the main reasons why people own property in the first place…to maximise their returns and the money they make while owning the property. With this in mind it’s interesting to observe some owners doing things that are in direct conflict with what will have them receive the most amount of money for their properties.
When selling or leasing your property, the way to maximise the amount of money you receive for it is to get the word out to the greatest number of people who would be interested in it. Yet there are property owners who prefer not tell many people about their property, and they end up just putting their own sign on it. Or even worse they won’t even put a sign on it and they won’t advertise it anywhere either. This approach almost guarantees you receiving considerably less money for your property, as compared with if you instead did what would maximise its exposure to the kind of people who would be interested in it. The most savvy investors want to buy REAL ESTATE that is not on the open market, because they know that’s when they make their best INVESTMENT purchases. They love being the only people negotiating with owners without any competitors even knowing that the property is available That’s when they believe they can buy COMMERCIAL REAL ESTATE for the lowest prices. An owner simply can’t receive the highest price for their property when there are many potentially interested parties who don’t even know that their property is available.
Think about it for a moment…If you had a used car that you wanted to sell which of the following two approaches do you think would bring you the highest price for it?
I) Placing flyers advertising the car in the mailboxes of the 10 closest houses to your own
2) Advertising the car in the used car section of the newspaper with the greatest circulation in your area
Clearly the second choice is the one more likely to bring you the highest price for your car, because it has a much greater chance of reaching the people who are looking to buy a car like yours. The 10 neighbors living the closest to you may not be in the market for a car like yours, but one of them may be willing to ”take it off your hands” for a price considerably less than your asking price. And in the process you might think this was the best price you could have obtained for the car.
So similarly, if you don’t list your PROPERTY with an experienced COMMERCIAL REAL ESTATE AGENT and put it on the open market when you’re ready to sell or lease it you’re more likely to receive a lower price for it. There’s a reason why the most successful companies and investors list their properties when making them available to the public. They know that the exposure their properties will receive will result in the highest price imaginable for them, and they won’t be leaving any of their own money on the table at the same time.