Selling a Building at the Right Price!

Selling a Building at the Right Price!

 A year ago, a prospect was referred to me for a project. She was already in talks with another agent; however, I recommended someone more suitable to help her. She met my contact and didn’t like it when he provided her with the true value of the building. She then listed the building with the initial provider for more than double the value of the property. The provider took the listing knowing full well that there was no way it could be sold at this amount. The agent simply wanted the listing for brand recognition. Now, a year later and dealing with unexpected family issues, the building owner needs to get rid of the property ASAP. She called me back to talk about listing the building because it still hadn’t sold. When I provided her with sales comps on the building, she said that she couldn’t talk anymore and hung up. Both the other agent and I have explained the value of her building with her, but she isn’t open to hearing what we said. The building will sit there for sale for a long time. What she doesn’t seem to realize is that if you sell an asset for more than it is worth, it is very unlikely that a bank will provide a mortgage for the selling price.   

 

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