Selling off the MLS
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Selling off the MLS (by GKARL [PA]) Jun 15, 2019 9:15 PM
       Selling off the MLS (by NE [PA]) Jun 15, 2019 9:36 PM
       Selling off the MLS (by Robert J [CA]) Jun 15, 2019 9:52 PM
       Selling off the MLS (by Don [PA]) Jun 15, 2019 10:43 PM
       Selling off the MLS (by Ray-N-Pa [PA]) Jun 15, 2019 11:04 PM
       Selling off the MLS (by GKARL [PA]) Jun 16, 2019 1:12 AM
       Selling off the MLS (by Ken [NY]) Jun 16, 2019 6:10 AM
       Selling off the MLS (by Allym [NJ]) Jun 16, 2019 9:11 AM
       Selling off the MLS (by Ray-N-Pa [PA]) Jun 16, 2019 11:40 AM
       Selling off the MLS (by Beth [WI]) Jun 16, 2019 2:47 PM
       Selling off the MLS (by GKARL [PA]) Jun 16, 2019 8:35 PM
       Selling off the MLS (by Ken [NY]) Jun 16, 2019 9:07 PM
       Selling off the MLS (by Dan [NY]) Jun 16, 2019 11:03 PM

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Selling off the MLS (by GKARL [PA]) Posted on: Jun 15, 2019 9:15 PM
Message:

I think I'm going to upload my four plex. I have the following offer from a realtor who is also a property manager:

"You give us the exclusive right to sell your property off market to our list of investors and contacts for a specific amount of time and we will discount the commission to 3%. You save 50% on fees and a lot less hassle then a typical listing and we have motivation to sell it to our database of investors because we then get to manage the property. It is a win/win."

A potential win for all concerned especially given the market conditions as buyers are looking for an inside track. One possible pitfall is that this person would probably be representing their buyers. But on the flip side of the coin, I really don't need representation per se as I can do that myself. The other thing is putting this on the MLS would probably result in multiple offers and maybe a bidding up on the price. I know the cap rate I'm looking for however and if this could done quickly, I'd be okay with a off market sale.

Thoughts?

--209.122.xx.xxx




Selling off the MLS (by NE [PA]) Posted on: Jun 15, 2019 9:36 PM
Message:

They're looking to get the listing and not put it on the mls. I sell them myself through sellyourhomeservices. It's a flat fee listing. I think they're actually based in your area. $199 to list and pay 3% to buyers agent.

I wouldn't give a realtor an unadvertised listing and sit around hoping they find someone. --50.32.xxx.xx




Selling off the MLS (by Robert J [CA]) Posted on: Jun 15, 2019 9:52 PM
Message:

When it comes to units, realtors are almost the best way to go. With a single family home you can try to market it yourself or with a discount agent.

When a large building came up for sale I and a partner were going to each sale one of our smaller building so we'd have the down payment.

I listed through a broker who sells only units. My friend/partner listed with a friend who sells all types of properties. My property sold and closed within 38 days. His property didn't sell. So I purchased the larger property myself and it took his agent 7 months to close the deal...kept on falling out.... terms were too loose..not firm enough with a non-refundable deposit after some many days --47.156.xx.xx




Selling off the MLS (by Don [PA]) Posted on: Jun 15, 2019 10:43 PM
Message:

You get the best price when the property is exposed to the most buyers, not when it is limited to their special ist. --69.248.xx.xx




Selling off the MLS (by Ray-N-Pa [PA]) Posted on: Jun 15, 2019 11:04 PM
Message:

Unless you are well networked in your local investment group - most investors will use a realtor or a network referral.

There is a price to having a FSBO sign in your front yard - your tenants are not going to be happy and they will be nervous. If that leads to vacancies - you will have to do the cost analysis for yourself --24.101.xxx.xx




Selling off the MLS (by GKARL [PA]) Posted on: Jun 16, 2019 1:12 AM
Message:

Under no circumstances will there be any for sale signs up. These don't go up on MFHs anyway. Their proposal is to give them an exclusive for 3-4 weeks and if they don't sell it in that time, put it on the MLS.

The occupants of the storefront wouldn't care if I sold and most of the residential tenants are on leases, so they're committed. I've got a good set of folks in this building now so I sorta regret letting it go, but by reducing debt, my net cash flows remain the same and I unlock some cash to finish my other projects. There's very little inventory of MFH, so this should sell quickly. Might be best to go the MLS route at the outset and let everyone participate. --209.122.xx.xxx




Selling off the MLS (by Ken [NY]) Posted on: Jun 16, 2019 6:10 AM
Message:

Tell them 6% listing and goes on MLS right away,they get 2% for listing it and the selling agent gets 4%,then everyone will make your property a priority --72.231.xxx.xxx




Selling off the MLS (by Allym [NJ]) Posted on: Jun 16, 2019 9:11 AM
Message:

Agents drag people around who have no business looking at some of the properties. Not sure why. Maybe they just want to look busy. I would stick with a broker who actually works himself and keep it off MLS. My broker is from a family business, been around for years, shows properties to his list of high rollers. --173.61.xxx.xx




Selling off the MLS (by Ray-N-Pa [PA]) Posted on: Jun 16, 2019 11:40 AM
Message:

I like that approach Ken......reward the behavior you desire. You want the place sold not just listed so pay more for selling and less for listing --24.101.xxx.xx




Selling off the MLS (by Beth [WI]) Posted on: Jun 16, 2019 2:47 PM
Message:

You can also just have them hold an open house. At least in my area, if the property is fairly desirable, an open house is held. That’s it. The offers are made, and the seller picks the one he/she likes best. Decent properties tend to be sold 1-2 weeks after being listed. Full price. --47.12.xxx.xx




Selling off the MLS (by GKARL [PA]) Posted on: Jun 16, 2019 8:35 PM
Message:

Ken: Can you negotiate how the commission is split? I always thought the selling and the listing broker split it in half. If I can do that, that definitely works better for me and makes everyone work. If they want to list it and push it to their list, they have even more incentive. --209.122.xx.xxx




Selling off the MLS (by Ken [NY]) Posted on: Jun 16, 2019 9:07 PM
Message:

Yes you can negotiate it,you will be surprised that often on a 6% commission they will only offer 2.5% and keep 3.5% just for listing it,the selling agents will push a listing where they get a larger amount of commission,in theory no agents know what the actual % is,all they know is what they are being offered to sell it for --72.231.xxx.xxx




Selling off the MLS (by Dan [NY]) Posted on: Jun 16, 2019 11:03 PM
Message:

Ken is in target. As an investor and realtor in NY a listing comes in say at 6 percent and goes out at x percent. It can go out differently to buyer agents and broker agents. I personally think it does a disservice to the seller to put a listing out at less then 50 percent of the total commission. Agents will show based on commission. A FSBO is a joke and is just another way for realtors to “target” you as a possible listing. --107.242.xxx.xx



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