Don’t be that guy!! You know…the one that wants to sell but doesn’t follow the market…or their commercial guy! Yes, I am talking about me here…I am the commercial guy.
The market largely determines the value of an asset. You can want to charge more, but I hope you have patience and the ability to carry the cost of the property.
“Wait…you mean you can’t magically make people spend more? I want to make more!” NO! I can’t take twenty pounds of sawdust and call it a table! It is good to want things.
But, if you really do want more…Understand that your asset must be kept up, have some upgrades like newer roof and HVAC, and lastly, be positioned correctly compared to other similar properties.
Reality check, the better you treat something, the more you will make off of it. As for the rest of you…DON’T BE THAT GUY!
Contact Howard Freedland for all your commercial real estate needs!
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