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What Do You Do When A Property Just Won't Sell? | Office Hours
Episode 346
Key Takeaways:
Strategies for Hard-to-Sell Properties:
If a property (like a restaurant in Miami) won’t sell, don’t just focus on price; consider marketing it differently (e.g., as an event venue or multi-tenant investment).
Address non-price obstacles—such as lack of parking and negative owner reputation—possibly by bringing in a neutral negotiator.
Retail Market Challenges & Outlook (2025):
Retail remains resilient but faces major headwinds: tariffs have increased costs, consumer sentiment is softening, and lay-offs/store closures are rising.
Local, neighborhood-serving strip centers are considered more stable than big-box retail.
Mixed-use developments in urban cores are the future; suburban power centers may struggle.
Brokerage & Investment Advice:
For brokers—especially new associates—focus on adding value during cold calls instead of asking for business immediately. Build relationships by sharing market insights.
Use drone technology for thorough roof/property inspections.
Market Adaptation:
Consider creative repositioning or adaptive reuse for stubborn or distressed properties.
Target a broader or alternative set of buyers, including investors from outside the immediate market area.
Action Items:
Bring in a neutral third party for difficult sales negotiations.
Explore alternative uses and marketing strategies for unsold properties.
Analyze the property for new value propositions.
Published on 1 week ago