If you are interested in selling commercial real estate property, Richard Hanna can guide you through the process as he has experience on all aspects of commercial real estate in Albuquerque, New Mexico. To sell commercial real estate in Albuquerque, New Mexico requires a knowledge and familiarity with some of the more subtle aspects of commercial real estate. For example, there are some buyers who will use a “nibbling” tactic to ask for additional concessions from a seller; nibbling refers to the request for additional negotiations once you have completed a sale. From a sellers’ standpoint it is important to defuse the situation as quickly as possible. Anticipate and plan for nibblers by having a plan in place to handle the situation because it is often at the close of the deal that the request for more concessions are made and you may find yourself tempted to agree in order to not lose your sale.
There is another tactic you should be aware of known as the “Grinding”. This tactic is used to wear down the seller into more concessions and can often leave the seller feeling trapped in a cycle of repeated requests for more and larger concessions. Instead of feeling like you have lost control of the situation you should instead carefully consider the request and then consider a request of your own.
Another tactic to be weary of is emotions. There may be instances when a party approaches the negotiation table and uses anger to deflect your focus. Instead of focusing on the issues to negotiate they are attempting to change your mindset into handling their emotions and they will use to their advantage in the negotiation. Instead stay calm and attempt to have the other party make their offer first, this will give you the upper hand in the negotiations. Unfortunately, there may come a time when you have to walk away from the negotiation table.
For more information, contact us and we will be happy to help you navigate these issues and more concerning selling commercial real estate in the Albuquerque, New Mexico area.