Will You List My Building for the Amount I Need, Even If It’s Above Market?

A Space Coast Perspective from REACH Commercial Real Estate

If you own commercial property on Florida’s Space Coast, you know this region is unique. The energy of the aerospace industry shapes our market, the steady influx of new residents, and the ever-evolving needs of local businesses. At REACH Commercial Real Estate, we’re often asked a straightforward question: “Will you list my building for the amount I need, even if it’s above market?”

It’s a fair question, and one that deserves a thoughtful answer, especially in a market as dynamic as ours.

Understanding the Space Coast Market

First, let’s talk about what “market value” really means here. The Space Coast is not Orlando, Miami, or Tampa. Our market is influenced by NASA, SpaceX, Blue Origin, and a host of tech startups, as well as traditional industries and a growing population. This means that property values can shift quickly and sometimes unpredictably.

However, no matter how hot the market gets, buyers and tenants are still savvy. They have access to data, they work with brokers, and they know when a property is priced above comparable listings. That’s why pricing strategy is so important.

The Temptation to List High

It’s natural to want to maximize your return. Maybe you’ve made significant improvements to your building, or maybe you have a specific financial goal in mind. Sometimes, owners need to hit a certain number to pay off a loan, fund a new venture, or simply feel good about a sale.

At REACH, we understand these motivations. We’re here to help you achieve your goals. But we also have a responsibility to be honest about what the market is likely to bear.

What Happens When You List Above Market?

Let’s be candid: listing a property significantly above market value can have consequences.

Here’s what we typically see on the Space Coast:

• Longer Time on Market: Properties priced above market tend to sit longer. Buyers and tenants may not even schedule a tour if they feel the price is unrealistic.
  

• Stale Listings: The longer a property sits, the more “stale” it appears. People start to wonder what’s wrong with it, even if there’s nothing wrong at all.
  

• Lowball Offers: Ironically, overpricing can attract bargain hunters who assume you’re desperate to sell.
  

• Appraisal Issues: Even if you find a buyer willing to pay your price, lenders may not appraise the property at that value, jeopardizing the deal.

  
  

Our Approach at REACH

So, will we list your building for the amount you need, even if it’s above market? Here’s our honest answer: we’ll always listen to your goals and work with you to develop a strategy. If you want to “test the market” at a higher price, we can discuss what that looks like and set clear expectations.

However, our job is also to provide you with the best possible advice. We’ll show you recent comps, market trends, and buyer feedback. If we believe your target price is out of reach, we’ll explain why, and we’ll suggest creative ways to bridge the gap, such as:

• Staged Price Reductions: Start a bit higher, but agree in advance to reduce the price after a set period if there’s little activity.
  

• Value-Add Strategies: Invest in improvements that could justify a higher price.
  

• Targeted Marketing: Focus on buyers or tenants who may see unique value in your property.

  
  

The Space Coast Advantage

Remember, the Space Coast is growing. Demand for quality commercial space is strong, and the right property, priced correctly, can attract serious interest quickly. Our team at REACH knows how to position your building to stand out, whether you’re near Kennedy Space Center, in Downtown Melbourne, or anywhere in between.

Let’s Talk About Your Goals

Ultimately, our mission is to help you succeed. If you’re considering selling or leasing your commercial property, let’s have a conversation. We’ll provide you with honest feedback, market insights, and a strategy tailored to your specific needs.

Ready to get started? Let’s make the most of your Space Coast investment, together.

Contact REACH.

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