If it takes a village to raise a child it takes a city to sell a Multifamily Property. Ok, that is a stretch however at Pinellas Commercial Properties we have specialist that do nothing but market your listing on Linkedin to Asset Managers and Hedge Funds. They syndicate your property to hundreds of websites around the globe. Others will photograph, film and make videos of the property. We have personnel on staff that deal only with buyers and incoming leads on your property. Others will collect "Non Disclosure Agreements" and approved financial information while checking with Title Companies to see that everything is in line when the time comes to close. People like me Alex P Willlaiams, that call and stay in touch with buyers who have shown interest recently in Multifamily properties and who are pre- qualified either with proof of funds or have pre-arranged and approved financing. Some look up information on properties all throughout the state. If you did not manage to sell your property the first or second go around- do not fret. It’s a complicated and huge job.The thing to do is try again. The market has strengthened in the last 6 months.
Make Sure You Hire A Commercial Real Estate Agent To represent Your Property
Home buyers are looking at how they, their furniture, and perhaps a family will fit into both the home and the neighborhood. They’ll look at the floor plan, and they’ll look at the condition with an eye to what they might need to do before they move in.
However, a big part of their buying decision is based on emotion and the “feel” of the home. Fresh paint and sparkling window panes can sway the decision.
Since you’re an investor, you know that investors are looking for something else. They’re interested in income. Thus, the numbers are all-important. The floor plan, the condition of the property, and the neighborhood matter only in how they will affect the bottom line.They will be looking at your current rental income and deducting your maintenance costs, taxes, and insurance. Next they’ll consider whether your property will give a good return on their cash – or whether they’ll have cash flow after debt service to a purchase mortgage.
They’ll also consider the competition. They’ll be thinking about the likelihood that they can keep these units fully rented.
The difference in what the two kinds of buyers are looking for is why real estate agents who deal with single family homes are often unable to sell multi-family investment properties. They simply don’t “speak the same language” as investors – and they don’t know where and how to market properties to appeal to them.
Because I specialize in selling multi-family properties, I know where and how to find those investor-buyers. And when I find them, I know how to talk to them and how to present your property in the most favorable light.
Contrary to what your last agent may have told you, there are buyers looking for investment properties in our market right now and I have a long list of pre-approved buyers that would like to see your real estate.
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