Looking For Answers About Marketing Commercial Properties

I'll make this as brief as possible while trying to provide enough details to hopefully get answers to my questions.

I have a commercial property listed for sale in SoCal. I have presented my agent with questions regarding advertizing the listing. The property has been listed w/several online sources/dabases since early June but it has only been listed in the target market newspaper 1 time in 9 weeks. There are several other local publications that the property could also be listed in but my agent hasn't lised in any of them. "my company will not pay for ads space in periodicals they haven’t approved"

- Why would any agent list a property in every viable location if given a chance or in this case requested by the owner?

- What happens if I were to list the property in these other markets and my efforts draw the said buyer to the table? Should there be an adjustment to the commision if this happens?

- I have been asked to lower my asking price and don't feel that I should w/out proper advertizing in place to reach the potential market. Wondering if I should. Please see above two questions.

- I signed a 90day listing with the agent and I am 60+ days in at this point. Would you option to renew w/that agent or move on considering the previous questions.

- Is this commonplace in commercial sales?

- I would think that for 5% an agent should list the property everywhere they could? Is that an unreasonable request from the owner?

Any suggestions would be appreciated.

Michael

what kind of commercial property do you have? it is in the MLS? give me more details please!!!

The fact is far too many agents say anything to get you to sign ( see Commercialking's bit on Broker Speak, it's gold ) listing agreement and spend as little as possible to market it. Now, it's your job to keep them honest. Call your agent, tell them so spend more on marking or you will dump them. Even with a 90 day listing agreement, if you go to your agent's broker and let them know that you don't feel like your being served well or specifically not in a faduciarry manner, they will usually let you out of contract rather than risk litagation.
But talk to your agent first, and don't accept that approved periodcal story. Tell them market it correctly or else, find someone who will.

As an agent I can tell that print advertising is expensive and I wont put a lot of money into a 90 listing agreement. Oh wait ......I DON'T take 90 day listings, especially on commercial. Commercial properties tend to take longer to sell due to most buyers analyzing the deal instead emotions dictating it like residential. What I can recommend you do is offer to pay for the ads and see what kind of response they get. If the property has a sign out front and being advertised on ****This URL Not allowed**** and the mls it reaching it's target audience. Most buyers either browse ****This URL Not allowed**** or work with an agent that does. Most of our sucessful marketing isn't aimed at the buyers but the buyers agents instead. As far as the price, if you feel it not overpriced then give a couple of more months. One test I use when listing a property is running the numbers and decide what I would pay for it. I just listed a building 2 weeks ago at the top dollar I would pay for it and we have had 3 showings and 2 of the 3 are talking with planning commission/city. No printed ads yet. Good luck and if you do switch agents go over their strategy before you sign, make sure he posts on ****This URL Not allowed****. If you are happy enough to sign give him at least a 6month listing. Most of my commercial listings are for one year and 6.5 commission, I'll negotiate on 1 but not both.