Mark Johns of ELIFIN® represented the seller in the successful sale of the ±6,200 SF industrial property located at 102 Jared Dr in Broussard, LA.

Challenge

When Mark listed the property, the street had two other available buildings. Within a month, that number had grown to more than five properties available within a 100-yard radius. Suddenly the seller was competing in a crowded submarket, and the pressure to drop the price to stand out was real. The owner was understandably nervous that holding firm on asking price was no longer a viable strategy.

Strategy

Mark pushed back on the instinct to cut the price. Rather than reacting to the competition by racing to the bottom, he focused on what made this building different from everything else available on the street. The property was approximately 2,200 SF larger than the competing listings and fully climate controlled, a meaningful distinction in a market where most of the alternatives were not.

Mark built the marketing around those two advantages. Instead of presenting the building as one more option on a crowded street, he positioned it directly against the competition, putting the additional square footage and the climate-controlled space at the front of the listing and every buyer conversation. Buyers comparing their options on the street could see exactly what set this building apart, which turned the asking price from something to negotiate down into a fair price for a better building. With the differences made clear, Mark held the price and let those advantages do the work.

Result

The building sold close to the asking price, and the transaction closed within two weeks of the offer being submitted. In a submarket that had become significantly more competitive over the listing period, the seller achieved a result that the owner had doubted was possible without a price reduction. Mark's read on the property's strengths proved correct, and the patience to hold the line paid off.