I'm a buyer and was just curious, what is the general rationale or strategy for listing a property unpriced?

Thanks Joel. Yes its in regards to multi-family. I've come across this type of listing a number of times and was curious. Thanks for your input

You'll usually find multi, small commercial, vacant land and lots listed without prices. It's simply done to generate traffic, what is available. If you contact them they will usually have an asking price. Multi family isn't sold or marketed "retail", retail is to the general public and only investors buy multi family, just to clarify the term. Commercial is at an expected market price. I usually ignore these listings unless I know the property or area, in which case I already know about what the price will be. :)

Hi Jessica, I think you are talking about multifamily as you have posted on that before looking at large apartment buildings. The sellers in this situation are TESTING the market seeing what kind of offers come in. Some buyers will skip this blind bidding all together and move to another property and some will still play. Personally I do not like when they do this. I would rather submit an offer on a commercial property on behalf of my client and work one on one to get something accepted. Sometimes they have a blind pool like this and then the listing broker tells you that your client has made it to the next round of bidding. Usually 2 to 3 buyers total at that point to pick from. If the seller is not that motivated to sell and the unpricing draws offers they are not excited about they might pull the property off the market all together. Sometimes they have to sell the property so will end up accepting one offer or trying to work it up.

sellers with unpriced deals?sellers with unpriced deals?

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