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The Buying and Selling of Commercial Property

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For Buyers

As a customer, you want to make sure that you are selecting the most ideal location and working with the best agents to find your dream property. Whether you are looking for commercial property for sale Manchester or offices to rent Birmingham, you need to find the best price to suit your business budget. Although there will always be places to rent, you need to get in there pretty quickly, after careful consideration, to ensure your secure right to the property with either buying or leasing.

For Sellers

In the real estate business, you will realise that there are many listings which take time to attract the right enquiry and make it a successful sale. That is the nature of the real estate business.

Consequently, the selling of property in the real estate market can be hard when the price goes up. This is because the number of prospects who want to purchase the property goes down. It is abnormal to have comprehensive listings which are active in the market for more than six months. At such a time, the client is bored and frustrated with the progress or absence of improvement.

Since the clients are left by themselves without being nurtured, they might develop cold feet with the real estate agency. This problem is common and needs to be avoided. For any client, it is not the price, property or lack of marketing funds that he or she is likely to blame, but the agent. The client is likely to blame the agent for failure to attract buyers. Therefore, when a commercial property is not sold or rented near the end of the agency term, the client is likely to look for another agent for the listing. As it is well known, many agents are always talking to clients and are waiting for the opportunity of the listing and take the price down.

As an agent, it is prudent to avoid this and take action with the client from the first day of the listing. Moreover, you should avoid the problem by getting involved in every step such as marketing and inspection of the property. Every small step will help you strengthen your relationship with the client and the office in general. The following are some key steps you can use:

  • Look into the history of the property.
  • Compile all feedbacks from each inspection.
  • Use the best inspection strategies.
  • Arrange frequent meetings with the client and provide updates for any progress.
  • Ensure that you consistently communicate with the property agency.
  • Give feedback on the current rent rates in the market and how they relate to the property being listed.

Above all, remember that clients are always trying to secure their self-interests and when you help them, you can be able to keep your listings alive even in the most difficult periods. When you have established a good prospecting system which is above your regular system, you will have the chance to find the best property for listing and selling.

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