I am getting calls from distressed owners of Las Vegas commercial properties such as land, retail or industrial property who ask me if I have any buyers for their property and my answer is NO.
There are three reasons for this.
1: Real estate deals in the U.S. and by extension in Nevada are adversarial by default. That is the reason that both the buyer and the seller should be represented by two distinct agents in a real estate deal. The buyer’s agents goal is to get the best possible deal for the buyer under the most favorable terms and the listing agent’s job is to get the best possible deal for the seller. There is an inherent conflict between the two.
If I have a buyer, I am representing the buyer and not the seller so why would a seller ask a buyer’s agent to see if the buyer would want to buy their property.
2: If the seller lists the property with me then I represent the seller and not the buyer.
3: There is great deal of work that has to be done prior to listing a Las Vegas commercial property for sale. For example if the seller wants to sell Las Vegas land for sale, the listing agent has to figure out what is the current zoning and master plan for the parcel. Additionally, how far the infrastructure is away from the parcel of land, traffic studies, possible setbacks and perusing a higher zoning (if at all possible) are a few issues that must be considered.
How can an agent do all these instantly, while talking to the seller is beyond me?
The deal is that if these commercial property owners had done their homework, some of them wouldn’t be as distressed as they are now. Yet they insist on going on with their mistaken ways, that without a doubt will result in losing their property and a significant down payment that they had to put down.
These sellers have to think about what is the best way to sell it quickly. Calling others to see if they have a buyer that is willing to buy their property is akin to someone taking a piece of merchandise from store to store to see if anyone would want to buy it. If there is a buyer, he/she will want to buy the property for exceptionally large discounts that would leave our not so intelligent seller with nothing. Their down payment is gone anyway.
A much better way is to list the property with a commercial real estate agent in Las Vegas, so all commercial and residential real estate agents can see the listing and offer a big enough incentive so they would make extra effort to show the listing to their customers. This is the only way to sell commercial real estate in Las Vegas at this time.
Most of the properties that are listed with one agent are sold through another real estate agent, so the best way is making the listing for the commercial property accessible to the highest number of real estate agents in the Greater Las Vegas Valley. Also, make it a featured property and offer the seller’s agent a better commission from the competing listings and offering the procuring agent a good bonus for a quick close and then see what happens. All of the above is contingent on extremely competitive pricing of the property.
People, at some point you have to wake up to the fact that real estate can no longer be marketed and sold like it was 10 years ago, this is a new world, adapt or vanish.
Related web-site links: Buy or Sell Las Vegas Industrial Properties for sale. Lease Las Vegas Industrial Space, Las Vegas, Nevada Commercial Real Estate News, Las Vegas Economic News. Las Vegas, Nevada Real Estate