Photo by RODNAE Productions
There’s a popular belief which runs counter to the idea that off-market deals can achieve higher values because a buyer will be more aggressive to seal a trade; however, marketing a property can increase the sale price by up to 23%.
The train of thought suggests that when a seller has one buyer competing for an asset, the buyer is inclined to be more aggressive and willing to pay a premium because they don't want the seller to get into a bidding war for the property. Our research has shown the opposite.
This is an indicator that it is in the best interests of owners to employ a marketing campaign strategy for their properties. Growing allotments from institutional investors toward real estate are still pushing a sizable pool of investors into bidding for multifamily assets, and a full marketing campaign could drive the momentum of premiums.
The fundamental job of a broker is to create a competitive sales environment on behalf of the seller. Putting a building on the market determines the strongest buyer. Of course, this isn’t necessarily based on price alone. If one buyer has a higher-priced offer but weak financial backing, compared to a buyer with a stronger track record; taking a lower offer is the way to go. Our goal is to give the seller these options and we do that by marketing properties and generating the highest number of qualified offers to be brought to the table. There are numerous case studies where a seller received an off-market bid, put it on the market, and the off market buyer still bought the asset but at a higher price.
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eXp Commercial New York City Brokerage is experienced in listing and selling Multifamily, Retail and Office properties throughout the New York City Area and Long Island.
We don't just market properties; we make a market for each property we represent. Each offering is thoroughly underwritten, aggressively priced, and accompanied by loan quotes to expedite the sales process. We leverage our broad national marketing platform syndicating to the top CRE Listing Sites for maximum exposure, combined with an orchestrated competitive bidding process that yields higher sales prices for your property.