What is the best way to identify the right buyers for your real estate assets?

Imagine your friend, Alex, is selling a property with eco-friendly features and smart home technology. To find the right buyers, Alex should highlight these unique aspects, targeting environmentally conscious individuals and tech enthusiasts. For instance, marketing the property in tech company hubs or eco-lifestyle events can attract buyers who specifically value sustainability and modern living. By focusing on the property's green technology and smart features, Alex can effectively connect with a niche market that appreciates and is willing to invest in these specific attributes.

segment your buyer pool based on their interests and needs. For example, if your friend Alex is selling a luxury condo in a bustling city center, he should target professionals seeking an urban lifestyle, or investors looking for high-value rental properties. Alternatively, if he's selling a spacious family home in the suburbs, his target segment would be families needing more room, good schools, and a safe environment. By understanding the specific appeal of his property and matching it to the right buyer segment, Alex can effectively market his real estate asset.

Think of selling your property like fishing in a vast lake. To catch the right fish (buyers), don't just use one bait (marketing channel). Cast your net wide - list on real estate websites, use social media, engage agents, and tap into local networks. This multi-channel approach is like fishing in different spots, increasing your chances of catching the perfect buyer for your property.

Communicate about your property like a teacher explaining a complex subject. Be clear, detailed, and honest about every aspect - from the amenities to the potential limitations. Just as a teacher uses different methods to reach all students, use various channels to share this information, ensuring consistency across platforms. This approach builds trust and attracts buyers who appreciate transparency, much like students who value and engage with clear, straightforward teaching.

Beware of offers to purchase a property from parties who seemingly come from out of the blue. While these offers may be well intended, they can be predatory. Seldom is the first buyer’s offer reflective of the asset’s current market value, regardless of the company’s internal value. Your organization may be thrilled to get an unsolicited offer for what may be an albatross, and if that happens, kick the above actions into high gear. If one party is interested in that albatross, generate broader market interest to create a competitive best offer environment for the property. Bottom line, it’s the CRE org’s fiduciary duty to obtain the highest and best offer for any assets the company sells.

The best buyer for a real estate asset is the one who completes the transaction. Simple as that, right? However, the buyer will only sign the agreement to the transaction if they are motivated. Motivation is big. When this buyer approaches, it is crucial to establish that they are a motivated purchaser. For big real estate assets, a first good sign would be that the buyer is represented by a Real Estate Broker/Agent - particularly someone known within the industry and that has a track record. This familiarity and track record allow you to trust that broker's trust in their client's motivation to purchase a very expensive asset. Always establish the motivation to buy.