SELLING OR LEASING “SUBJECT TO OFFER”
What’s with the proliferation of brokers not posting a real asking price for their listed properties? Talk about messing with the natural forces of the marketplace! The market has always had a distinct sense of “ask” and “bid” pricing and the current disrespect for that process is disheartening and aggravating to this broker. I think certain brokerage houses are fueling this nonsense that makes it impossible to compare one property against another. Do they think the market is so volatile that a price posted today may not apply to the price/value a month from now? If you’re too timid to publish an asking price, what are you hiding? Embarrassed your ask price is too high? Personally, I don’t even want to call when I see this. I will concede one thing…the lack of inventory is making it hard to satisfy the demand. But even if we are in a market where buyers are bidding up the prices, they will sometimes bid MORE than the asking price. How do you do that if you don’t know what the asking price is? How can you tell what percentage over or under asking price something sells for if you don’t know what the ask price is? Does this matter to anyone but me? Does anyone actually think by posting “subject to offer”, it’s going to incentivize buyers and tenants to pay more than if a real price was posted? Where’s the evidence of that?
I’m open to changing my mind if you can give me evidence.
Be gone with this silly practice . Tell us what you really want for your property.
Bruce Kaplan, Senior Broker, Premier Commercial Realty
