Seller Representation
Portland office disposition strategy focused on positioning, pricing discipline, and a controlled marketing process—designed to maximize net proceeds and close on the seller's terms.
WHAT IS SELLER REPRESENTATION
Office seller representation means hiring a commercial real estate broker who works exclusively on behalf of the property owner to market and sell a commercial office asset. The seller's rep is responsible for pricing strategy, buyer targeting, marketing execution, offer evaluation, negotiation, and transaction management from listing through closing.
The broker's job is to position the asset to attract the right buyer pool, generate competitive interest, and negotiate the strongest possible terms—not just the highest offer price, but the combination of price, contingencies, timeline, and closing certainty that maximizes the seller's net outcome.
Seller representation is commission-based, typically calculated as a percentage of the sale price and paid at closing. The commission covers the listing broker and the cooperating buyer's broker. There is no retainer or upfront fee in most standard disposition engagements. The value of representation shows up in pricing accuracy, buyer competition, and deal certainty—sellers who list with experienced brokers consistently close at higher net proceeds than those who market independently or accept unsolicited offers without testing the market.
WHY IT MATTERS IN PORTLAND’S OFFICE MARKET
Portland's office investment market has shifted materially. Cap rates have expanded, transaction volume has thinned, and buyers are underwriting conservatively—applying higher vacancy assumptions, tighter rent growth projections, and larger capital reserves than they were three years ago. That means the days of listing a building and expecting multiple offers at asking price are largely over for most product types.
In this market, successful dispositions require sharper positioning. Sellers need to know exactly where their asset sits relative to recent comparable sales, which buyer segments are active (owner-users, value-add investors, 1031 exchange buyers), and what deal structure will attract serious capital without leaving money on the table. A seller's rep brings that market intelligence—current comp data, active buyer demand, and deal velocity by submarket—and builds a marketing strategy around it.
Without experienced representation, sellers risk mispricing (too high and the listing goes stale; too low and they leave proceeds on the table), attracting unqualified buyers who tie up the asset and fail to close, or accepting terms that expose them to unnecessary risk during the contract period. A seller's rep manages all of that—qualifying buyers, controlling the process, and negotiating contingencies that protect the seller's position through closing.
HOW SELLER REPRESENTATION WORKS
The seller rep process follows a structured sequence designed to position the asset, generate competitive interest, and close at the strongest achievable terms. Every engagement is different, but the core framework applies whether the asset is a 5,000 SF owner-user building or a multi-tenant office investment.
Step 1 — Asset Evaluation and Pricing Strategy. The property is evaluated on physical condition, location, lease structure, tenant credit, income profile, capital needs, and comparable sales. A pricing recommendation is developed that balances market reality with the seller's objectives—supportable by comps, but positioned to capture full value. Pricing too aggressively risks stale days-on-market; pricing too conservatively leaves proceeds behind.
Step 2 — Buyer Targeting and Market Positioning. The most likely buyer profile is identified based on the asset's characteristics—owner-users, stabilized yield investors, value-add buyers, 1031 exchange candidates, or developers. A positioning narrative is built around the asset's strengths and the story that will resonate with that buyer pool. This informs every piece of marketing and every conversation with a prospect.
Step 3 — Marketing and Outreach Execution. The property is marketed through a coordinated campaign—offering memorandum or executive summary, listing syndication (CoStar, LoopNet, Crexi), broker-to-broker outreach, targeted email campaigns, signage, and direct contact with known active buyers. The goal is maximum qualified exposure in a compressed timeframe, not passive listing activity.
Step 4 — Buyer Qualification and Offer Management. Incoming inquiries are screened for financial capacity, investment criteria fit, and closing ability. Tours are coordinated and follow-up is managed. Offers are evaluated not just on price, but on contingency structure, earnest money, financing risk, timeline, and the buyer's track record of closing. In multi-offer situations, the process is managed to maintain competitive tension without losing serious buyers.
Step 5 — Negotiation and LOI Execution. Terms are negotiated using comparable sale data, competing interest, and the seller's priority framework. The letter of intent is structured to lock in price, earnest money, contingency periods, closing timeline, and key deal points before moving to purchase and sale agreement. The goal is a clean LOI that minimizes re-trade risk during contract.
Step 6 — Contract Through Closing. The purchase and sale agreement is reviewed against the LOI terms, with attention to contingency language, default remedies, prorations, representations and warranties, and closing conditions. The broker coordinates between the seller's legal counsel, buyer's team, title company, and lender (if applicable) through due diligence, contingency removal, and closing. Issues are flagged early and managed proactively to prevent last-minute surprises that delay or kill deals.
ECONOMICS & VALUE
Cost Overview
Office seller representation in Portland is commission-based and paid at closing as a percentage of the sale price. The commission covers the listing broker and the cooperating buyer's broker. There is no upfront cost or retainer in most standard engagements. The value of seller representation shows up in three places: pricing accuracy that avoids leaving proceeds on the table, a controlled marketing process that generates competitive interest, and transaction management that protects the seller's position from LOI through closing. Sellers who engage experienced representation consistently close at stronger net proceeds than those who accept unsolicited offers or market independently.
How Positioning Drives Net Proceeds
The primary value of seller representation is positioning. When an asset is priced correctly, marketed to the right buyer pool, and presented with a clear investment narrative, it generates competitive interest and compresses time to offer. A seller's rep builds that positioning by benchmarking against recent comparable sales, identifying which buyer segments are most active for the asset type, and crafting marketing materials that answer the questions serious buyers ask before they ever schedule a tour. In a slower-volume market like Portland's, the difference between a well-positioned listing and a poorly marketed one isn't just price—it's whether the deal closes at all.
Why Work with a Seller’s Rep
A seller's rep works exclusively for the property owner—aligning every recommendation with the seller's financial and timing objectives. That alignment matters when deciding whether to accept an offer, counter, or wait for a stronger buyer. Beyond negotiation, a seller's rep provides market intelligence on active buyer demand, competing listings, and deal velocity that informs pricing and timing decisions throughout the engagement. The broker also qualifies buyers before they tie up the asset, manages the diligence process to prevent unnecessary re-trades, and coordinates closing logistics so the seller's team isn't managing transaction mechanics while running their business or portfolio.
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GET IN TOUCH
Contact Matt Lyman at Norris & Stevens about selling an office property in Portland—whether you're exploring a disposition, need a broker opinion of value, or are ready to go to market.
Share your building address, approximate square footage, current occupancy, and what's driving the sale decision, and Matt will follow up with comparable sale data, a preliminary pricing range, and a recommended approach.
Coverage spans the full Portland metro office market—Downtown/CBD, Pearl District, Central Eastside, Lloyd District, Lake Oswego, Kruse Way, Beaverton, 217 Corridor, Tigard, Tualatin, Hillsboro, Sunset Corridor, and Vancouver, WA.