Archive for February, 2008

A good reputation pays dividends

February 5, 2008

February 4, 2008. The article with the link below ran in the Detroit News. The reporter phoned me to ask my opinion of how the listing of Northland Shopping Center was being handled (the listing did not have a price – it was make an offer). I was quite flattered that the reporter thought enough of me that out of all of the real estate brokers out there, he phoned me personally to ask my opinion.

I answered his questions, gave him some information and suggested that he also speak with David Gilmore of the Sperry Van Ness Accerated Marketing Team as the marketing method resembled an auction more than a traditional plan. I only wish he had included my quote, “The success of that method is largely determined by how widely it is promoted. Sperry Van Ness immediately emails such properties to 60,000 commercial brokers and 40,000 potential buyers. You never know who will produce the best offer.”

That was a blatant promotion of our firm.

The Sperry Van Ness philosophy is to promote our listings to every commercial broker in the country along with our database of 40,000 potential buyers, which is always being expanded, especially now that we are international.

The difference between selling in house and cooperating the sale with other companies is that even with a lower sales price if it is sold in-house the office gets nearly double the commission. With Sperry Van Ness we believe we represent the buyer, not ourselves, and believe that the sales price will be higher if more people have the opportunity to bid on the property.  While 80% of sales in the commercial real estate industry are in-house, Sperry Van Ness is almost exactly the opposite; 70% of our sales are cooperative and over 70% of the remainder are cooperative between our offices. The reporter also asked me for help on another real estate story he is doing on cottages in northern Michigan. I told him that Sperry Van Ness does commercial sales only, and suggested a very good broker in northern Michigan. Again, though, I was very flattered that he asked.  Gary Lillie 

Here is the link: