I was watching the commercial expired list right before the forth of July and saw a ten thousand sq. ft. warehouse listed for 1.1mil had expired. A lady in my office had told me that she had a buyer for exactly that so I sent the owners of record a letter.
The July fourth weekend came around and I went up to Rainbow River and floated the river with my kids and just kicked back. Bright and early on Monday morning I drove over to the warehouse to walk around it and see where in the world it sat. That is to say where it sat in relation to the world outside .Just something I do on land Was Taught that years ago .
I saw a sign on the front door saying where the prior occupants had moved and low and behold it was the same name as the owning company, so I headed on over to their new location to see what I could find out.
I walked into the showroom counter sales area and stood patiently in line and when the person behind the counter asked me if he could help me, I responded that yes I was going to be easy ,Who do I need to talk to concerning your old warehouse, I am in Commercial Real Estate. He told me the asst manager would be the one who could help me, and walked me over to an office door. The asst manager was on the phone so I stood outside the door and waited for him to hang up. I introduced myself and told him why I was there and asked him for a contact name and phone number at the main office of the decision maker. He gladly obliged and commented that It was over priced and that the owner of the building they were in presently had made an offer considerably less than the listing price. I thanked him gave him my card and asked him to pass it along to anyone he cared about that might need some real Estate help, and headed home.
WhenI got home I called the number and got a recording, so I left my number and said I would be calling again before the day was through. I called again later in the afternoon and got a lady who was not sure if the property had been relisted but promised to find out and call me back.
The next morning I called and left a message .Later in the morning a gentleman from that company called me and said “I know we have spoken before and I thought you were sending a listing proposal to me” I not thinking said Oh no I don’t believe we have spoken before but I would be glad to send you a listing proposal. He then told me that they were listing it with one of my competitors(MY Guess the company that had it before). I thanked him and then said By the way what price are you listing it at? He told me and it was 325thousand less than what it was listed at before I thanked him and hung up.Immediately redialing and getting the receptionist “What is your fax number?” I wrote up a listing agreement, at the price it was lowered to and faxed it off.Ill tell you tomorrow if I get a signed listing back.