Why Won't My Property Sell?


So, you've had your property on the market for over a year. Initially, there was some interest, and you heard from your broker periodically. However, in the last eight months, the market seems to have died, and the only time you hear from your broker is when you call to see what is going on.

What could be the problem?

First, does your property show well? 

Are the windows washed? Is the floor free of debris? Have you tended to the weeds outside, or are they growing unchecked? Commercial real estate buyers are no different from any other buyers; neat, clean, and efficient sells. A sloppy and dirty presentation makes it harder for buyers to see the potential in your property.


Second, Are you priced competitively in the marketplace? 

If other similar properties are priced lower, guess which ones get shown and sold? Unfortunately, not yours. By now, your broker should have had a heart-to-heart discussion with you regarding your property's price.


Lastly, is your property getting full exposure to the marketplace? 

This is not rocket science, folks. Specific websites and signage are essential for advertising every commercial real estate property.

If your property has been stagnant on the market for longer than anticipated, and you would like to hear about a new approach, please contact me.


- Brad Neihouser
765-427-5052 | bneihouser@shook.com

Cut Thorugh The Noise. Get Straightforward Advice. 

Comments

Post a Comment

Popular posts from this blog

The Family Meeting

  THE FAMILY MEETING   A family meeting? What is it and why would we need such a thing? Well, I am here to tell you that one day there will be a meeting with members of your family and you will not be there. The question is who do you want control of it. Will you or someone else be making the decisions?  Full disclosure, I did not come up with this idea. I read a blog with a similar theme written by a good friend of mine and was inspired. When I approached my wife with the idea of a “family meeting” she was reluctant at first, but as we talked through some of the topics I had in mind, she agreed that it was probably a good idea. When we tossed the subject out to our children and their spouses, they were intrigued and on board.  Let me explain the nature of this kind of “meeting” and why I believe it is so important.  A substantial amount of my commercial real estate business, mostly farmland, comes from families that have experienced the loss of a parent. ...
Read more

The Farmland Market & What it Means for YOU

Image
  The Farmland Market & What it Means for YOU When it comes to the Commercial Real Estate market, what kinds of properties come to mind? I bet I can guess: Retail, Office, and Industrial – The Big Three. However, there’s another sector of CRE that you might not think of immediately – Farmland. If there was ever a market that flew under the radar, it would be this one. While there might be little attention paid to current farmland/agricultural listing inventory, there’s even less paid to who’s buying it.    So, what is the current activity in the farmland market? Recently there has been much doom and gloom surrounding the agricultural sector, especially in the last five years. However, values have remained steady and seem to be trying to push upward again, despite all the negativity. What does all of this mean? How are values trending upward with so little visible activity?   What has been happening behind the scenes? Many agricultural operators have quie...
Read more

Shining the Light on Farmland Leases

Image
  Touching The 3 rd Rail: Farmland Leases   When you think of “top secret” information, what comes to mind? It might surprise you to learn that some of the most closely guarded information in the business world is not a password, account number, or safe combination, it’s Farmland Lease Rates. Bet you didn’t see that one coming. These lease rates are often set and then forgotten, never seeing the light of day again. Surprisingly, there is no clearing house of information or database of comps for landowners & potential tenants to research when trying to determine a lease rate. The agreed upon rates are, more or less, a shot in the dark and sealed with a handshake between friends. I could write a book after all of the issues I’ve helped landowners through when it’s time to renegotiate an existing lease or sell their property and the stories are always the same. Mr. & Mrs. Landowner have leased their farmland to an old friend for years and the lease rate has rem...
Read more