Real Estate For Sale – How Much Should I ask?
Do you want the good news or the bad? What a dilemna! In the Austin Commercial Real Estate Market today, shoot straight with a client about what their property is worth and you risk not getting their business. Provide a number that is too optimistic and run the risk of getting their business but then being unable to sell the property and thus losing credibility and likely the Client.
My approach has been the “Give it to ’em straight” approach for a variety of reasons. 1) I don’t want to spend a lot of time trying to sell or lease something that’s over priced in today’s market. 2) I don’t want to build a false expectation for my clients (i.e. that we are going to get 2007 pricing in 2010) and 3) I want to build trust in my Client relationship and I don’t see that happening if I’m painting a rosy picture when reality is a different story.
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