How I Sell Your Investment Property

My primary goals when I list your investment property

• Get you the highest possible price
• Only enter into contracts that have a high probability of Closing
• Make certain that contractual terms are in your best interest
• Make the process as easy and stress free for you as possible
• Monitor the closing process so that the deal will Close

How I try to meet these goals

A detailed market analysis and proper preparation.  Once you decide to list your property with me, we will refine the anticipated selling price and attempt to make the offering price within 1% of the final selling price.  I call this ‘fine tuning’ the asking price.  There are a lot of factors involved in this fine tuning.  They include recent sales, presence or absence of competition, quality of competition, analysis of competitors marketing efforts and more.

Detailed marketing materials available on-line

The multiple listing database provides limited information that is available for prospective agents and their clients.  I extend the available information with custom web pages for my listings. These are not ‘canned’ or ‘fill in the blanks’  type templates but web pages that I create myself on my own website. I can create as many web pages as deemed necessary to help sell my listings.  By providing a higher level of detail, I can generate more interest.  It also allows me to expedite delivery of information to prospective buyers and their agents.

The ease of distributing relevant information is especially important for multi-family/investment properties.  Often times it takes a day or more to get detailed information on a property.  By making this information available on-line I can generate a higher level of interest and more prospective buyers. This is especially important when a property is new on the market.  My listings usually generate multiple offers!

Presentation of the Numbers

Using the numbers that you provide and I prepare a financial spreadsheet.  This includes actual rents and expenses.  It also includes information regarding recent repairs and upgrades.  In addition to the actual numbers, I will typically prepare a pro-forma sheet in the same format.  The pro-forma sheet is a representation of what the financial data could be.  Often times, long term tenants cause disparities in rents.  Some units may be rented for below market prices.  The pro-forma sheet shows the numbers that a new owner could achieve.

Both of these financial sheets are saved into a PDF format and made available to prospective buyers and their agents.  I can place this information on my website so that all the details are readily accessible.  This is much better than the typical method of phone tag and delays that are typically encountered when someone wants information on an investment property.

By making this information readily available and easily accessible, I can have multiple buyers quickly interested in the purchase of your property , help you to get the best price possible and possibly bring in multiple offers.

Interior photos to show prospective buyers.

If it can be arranged, I like to make a complete photo portfolio of the property.  This eliminates the guess work for buyers and helps increase interest.  While many sellers of multi-family properties do not want this extra intrusion upon their tenants, and it is not mandatory, I do believe it helps in both marketing the property and ensuring that offers received are more likely to end in a closed transaction.  It also helps me to be able to personally attest to the property condition during the selling process when I have seen the interior.

Advertising and Internet Promotion

There are various sources of both print and internet promotion.  I use these to drive phone calls and inquiries to both myself and to the property web site where prospective buyers can view detailed information.  Usually we do not include the property address as we only want qualified buyers who are accompanied by an agent examining the property.  Viewing with discretion is of primary importance here and exterior viewing should be a drive by or walk by only.  Usually the buyer is represented by a different agent though I typically do get direct inquiries from purchasers. Typically these buyers expect to purchase the property for a price that is substantially below the asking price though I have successfully worked both sides on transactions.

Monitoring exposure

I have several tools available for monitoring exposure.  I make the extra effort to track exposure as this is a key indicator of marketing success.  Maximum exposure is usually during the first 2 weeks that the property is on the market.  By tracking exposure I can show you the trends and if price adjustments are warranted.  Advertising and promotion efforts can also be reflected in the exposure numbers as can price changes.  

Contract negotiation

By utilizing my contract knowledge I want to make certain that contracts are entered into under the following circumstances only;

• The buyer is financially qualified
• The have reviewed the financial information on the property
• The contract terms and timelines are favorable and minimize off-market time

For Additional details on the contract process click here

Closing the Deal

Once the contract has been entered into and the contingencies have been waived, the final obstacle is closing the deal.  The property is in a pending status and the final contingency ‘financing’ is the last concern.   With the proper use of contracts, I can monitor the progress of the buyer in attaining financing and will keep you informed of concerns or issues that arise.  It is possible for the seller to ask for the financing contingency to be waived or the deal will be killed if it appears that the buyer’s financing is questionable.

I work hard to maximize the selling price for my clients’ and to ensure that they are protected legally throughout the transaction.  My listings sell.  If you want professional representation or have additional questions feel free to give me a call anytime.