Off-market deals are properties not advertised for sale on the open market and are typically in high demand among experienced property investors. A broker may offer the property to a select group of potential buyers or negotiate with a buyer without public advertising. While a seller can personally seek buyers, it advisable to select a commercial broker/agent with experience selling off-market properties who has connections to investors actively looking for purchase opportunities.
You may want to sell your commercial property off market if you:
- Desire privacy and confidentiality,
- Want to gauge interest in your commercial property,
- Need to target more qualified buyers and reduce foot traffic,
- Want to save money on expenses and fees or
- Want more control over the sale.
Be aware as a seller, while selling off market has many advantages there are pros as well as cons for commercial property buyers. A commercial broker/agent with experience selling off-market properties can help mitigate some of the downsides for buyers by providing realistic counsel for all parties involved.
Pros for off-market commercial property buyers:
- Less competition. Since off-market properties are lesser-known, they give a buyer access to inventory that competitors don't see and are less likely to have a bidding war.
- Possible lower prices. Since competition is lower, a buyer might find a better deal, reduced commissions or fees.
- More flexibility. Sellers tend to be more relaxed on timelines and in negotiations.
Cons for off-market commercial property buyers:
- Difficult to find. Off-market commercial properties aren't as easy to locate, requiring more leg work and creativity.
- Unreasonable seller expectations. If a seller doesn't need to sell, they might be inflexible with the price and negotiations.
- Longer deal timelines. If sellers are not in a rush, you may be waiting much longer to close the deal than with a publicly advertising commercial property.
Meet the Expert
Viviana Writer is a real estate agent with Prosperiti Brokers in the Springfield, MO region providing buyers and sellers with professional, responsive, and attentive real estate services. Want an agent who'll really listen to what you want? Need an agent who knows how to effectively market your commercial or residential property so it sells? Prosperiti Brokers is a boutique brokerage with Midwest values and a national reach. The company mission is to help the communities they serve to prosper.
