With all the challenges that can come up when preparing your Commercial property for sale, or considering a purchase, why add procrastination to the list? It is so easy to find reasons to put off what you have already decided to do. Some of us just hesitate when it comes to major changes.
There certainly are some good reasons for delaying, but first ask yourself why you are waiting and see if the reason can pass the “reasonable” test! Because if circumstances are as good as they are probably going to be, it’s time to get going!
Often the desire to prep a Commercial property for listing can get out of hand! One thing leads to another and it can be difficult to determine just which elements may really negatively influence the listing price and market perceptions, and which really are not deal makers or breakers. So, you may wait. And, wait.
The fact is, when prospective buyers observe improvement, refreshment and preparatory maintenance happening while a Commercial property is listed and on the market, it sends a positive message! So if part of your procrastination in delaying listing is because you want every single planned preparation completed first, you might be missing out on viable prospects looking for Commercial property like yours. That dilemma is one to discuss with your Commercial property agent. (True, there are some forms of prep where it wouldn’t be smart to have prospects showing up where construction or maintenance might present hazards.) But. “I’m not ready yet” might be related to some other factors, as well.
Deciding to Sell or Buy Commercial property is a big decision –even when you know it’s the right thing to do. You might realize the time has come to make that change in your business activities, but when it comes right down to letting go – you just hesitate. That’s all fine before you start dialogue and planning with a Commercial real estate agent. But getting started then dragging your feet can raise some significant issues. Remember, when you begin the process with a professional Commercial realtor, a lot of action kicks in. That agent begins to assess and compare and review and consider.
You might procrastinate about signing the final formal listing agreement and prefer to lope along with what the pros fondly call a “pocket listing!” That’s when a property owner claims they want to sell, but doesn’t want to list yet, but wants the agent to “…keep my property in mind, and maybe….” (Now, ask yourself why a conscientious professional would prioritize a “pocket listing!”)
And then there’s the prospective Buyer who has viewed several Commercial properties that fill the specs of their search. But, they just can’t make a decision! Their Commercial property agent has done the job, and is now becoming concerned that the “right” property may be bought by someone else because their client just can’t move forward. Buyer or Seller, procrastination can damage good opportunities.
Professional Commercial property agents know when a market is favorable for a particular kind of Commercial property – for Buyers or Sellers. It is their job to know the difference between a “perceived value” (what the Seller or Buyer wants), and the “real value” (what the market indicates).
If you are procrastinating — and you know when you are! — it would be smart to listen to your Commercial real estate professional and be sure you are not setting yourself up for disappointment by possibly missing the right time to list or buy your specific Commercial property!
Jim Magliulo is the leading Commercial Real Estate Agent in Lake County. He has been the company’s Sales Agent of the Year for 5 years and holds the Lake County record for the highest total sales volume in one year for a non-broker agent. He can be reached at County Air Commercial at 707-263-5729, at jim@countryair.com, or at www.CountryAirCommercial.com Send Jim your email address if you would like to be notified of new commercial listing in Lake County.
