Originally posted on https://masscommercialproperties.com/think-like-a-buyer/
How do I think like a buyer to get the right price?
Download the guide now to learn how to answer three simple questions:
See
What would I need to SEE to be convinced that this is the best deal for me?
Know
What would I need to KNOW to agree that the valuation is accurate for this property?
Believe
What would I need to BELIEVE in order to offer the right price for this property to close the deal?
1. Seeing Like a Buyer
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Use professional photos
Low-quality snapshots are forgettable and raise concerns about how serious you are as a seller. Professional photos are vital to getting you the right price in the sale of your property. They can literally be worth millions of dollars.
Offer a future vision
Be intentional about showing how the property can be utilized in new and different ways in the future. Don’t make the assumption that a new owner would have the same purpose for the building, or you’ll leave a lot of money on the table.
When you choose MANSARD, you can be sure that your valuation will reflect the full potential of your property.
In-person visit
Get the buyer onto the property for a tour and strategic information sharing. Buyers will trust your property valuation if they feel confident you aren’t hiding anything.
2. Knowing Like a Buyer
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To a buyer, the unknown is a risk
Buyers insist on a lower price as a means of risk mitigation – they’re protecting themselves from what they don’t know. By giving them an organized, clear report of all the numbers related to your property, they can take a deep breath and start to see the true value of your property.
3. Believing Like a Buyer
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Be available, and be prepared to walk away
Buyers often fill in silence and delays with distrust and worry. Be prepared to give quick, complete answers with documentation whenever possible.
It may seem counterintuitive, but when you are willing to walk away, it shows confidence in your property valuation.
Entering into a negotiation worth millions of dollars is a serious undertaking. If a buyer suspects a seller is hiding anything, or might back out of a deal, or could otherwise be “difficult,” it’s easier to walk away and find another property to look at.
The buyer needs to believe that you are TRUSTWORTHY above all else. Sales built on TRUST are easier to close at the right price.
Be up front, open, and honest about your property’s shortcomings
Serious buyers are not going to be surprised that there are shortcomings in a property – in fact, they aren’t going to believe you if you say there aren’t any!
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Ultimately, very few resources have the expertise to ensure the successful sale to the right buyer at the right time.
MANSARD was named one of the largest commercial real estate selling brokers in Massachusetts in 2018 by the Boston Business Journal.
88.9% of MANSARD’s recent deals closed on time and at our client’s accepted offer price.
That’s because at MANSARD, we deliver engaged buyers who close, guarantee experience and knowledge, and outrank our competitors by average sale transactions per broker.
