Sell My Multi Myself?
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Sell My Multi Myself? (by Jerry [NC]) Jun 19, 2024 11:18 AM
       Sell My Multi Myself? (by Robert,OntarioCanada [ON]) Jun 19, 2024 11:38 AM
       Sell My Multi Myself? (by plenty [MO]) Jun 19, 2024 12:43 PM
       Sell My Multi Myself? (by MMIT [VA]) Jun 19, 2024 12:56 PM
       Sell My Multi Myself? (by RB [TN]) Jun 19, 2024 1:29 PM
       Sell My Multi Myself? (by GKARL [PA]) Jun 19, 2024 1:35 PM
       Sell My Multi Myself? (by GKARL [PA]) Jun 19, 2024 1:37 PM
       Sell My Multi Myself? (by Jerry [NC]) Jun 19, 2024 2:01 PM
       Sell My Multi Myself? (by MMIT [VA]) Jun 19, 2024 5:30 PM
       Sell My Multi Myself? (by Ray-N-Pa [PA]) Jun 19, 2024 9:21 PM

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Sell My Multi Myself? (by Jerry [NC]) Posted on: Jun 19, 2024 11:18 AM
Message:

I have a small multi unit (6 units) that I had planned on selling this summer. A good friend who used to be a realtor, but moved away referred me to a high powered commercial broker, who is one of only a few in the area.

I spoke briefly with the broker in early January and he seemed eager to get rolling right away. I told him that I had a few more things to get done. He said to contact him when I'm ready.

I called him in early May and he texted back indicating that he was slammed at the time. He said he would get back to me. I've not heard anything from him to date.

Needless to say, I'm taking it personally and the bootstrapper in me says I don't need him or any other broker to move this property.

Here is my plan, I will list it on our local NCREIA site and pay to get visibility throughout the country. I'm not afraid of the process. I was planning to use a broker because I didn't want to deal with tire kickers.

Aside from just listing it can any of you share with with me the plusses and minus of doing this myself?

Any advice on selling this thing myself?

Do any of you have any other experiences to offer? --99.150.xxx.xxx




Sell My Multi Myself? (by Robert,OntarioCanada [ON]) Posted on: Jun 19, 2024 11:38 AM
Message:

Try a few different internet sites along can offer a vendor take back mortgage with a sufficient down payment. Offer weekly payments where buyer will increase equity. --207.236.xxx.xxx




Sell My Multi Myself? (by plenty [MO]) Posted on: Jun 19, 2024 12:43 PM
Message:

So suddenly you are ready to deal with tirer kickers? For a commercial type multi family I'd give the broker one more opportunity to redeem himself. --172.59.xx.xxx




Sell My Multi Myself? (by MMIT [VA]) Posted on: Jun 19, 2024 12:56 PM
Message:

Where in NC is the 6 unit?

Thanks --174.206.xx.xxx




Sell My Multi Myself? (by RB [TN]) Posted on: Jun 19, 2024 1:29 PM
Message:

Advertise like a Madman, all at once.

Location, condition, price.

Welcome to the Sellers Club. --69.130.xxx.xxx




Sell My Multi Myself? (by GKARL [PA]) Posted on: Jun 19, 2024 1:35 PM
Message:

I sold a mixed use fourplex and most recently a duplex myself via a discount broker. I had a very good experience. Here's how I handled the last one:

1) I had a few real estate brokers come by and give me comps.

2) I had an home inspection done so as to avoid a second round of negotiations when the buyer had their inspection done. I told everyone that inspections must be waived and if they chose to do one, it was for their information only.

3) I had professional pictures done.

4) I loaded all of the stuff above along with my C of O, city inspections and proforma financials into a google drive I shared with all prospects. All realtors who called got a link. This addressed all typical questions and eliminated unnecessary conversation.

5) As one unit was occupied, I allowed no lockbox showings. I had 3 open houses only of about 2 hours each. Anyone who hadn't gotten the google drive link earlier were directed to my business FB page which had the link in a post on the property.

6) I gave them a date/time when the offers had to be in.

I wound up with six offers all above my asking. Sold it in about a week and felt the process went well. I felt the key was the inspection and organizing the information on the shared drive to avoid the fire drill. You know more about the place than any realtor. Also, with other investors, you'll be speaking their language better than any realtor. I knew what they wanted to see, because I know what I would want.

--209.122.xx.xxx




Sell My Multi Myself? (by GKARL [PA]) Posted on: Jun 19, 2024 1:37 PM
Message:

Jerry---are you the same guy I met at the conference? --209.122.xx.xxx




Sell My Multi Myself? (by Jerry [NC]) Posted on: Jun 19, 2024 2:01 PM
Message:

MMIT, the city is Edenton, NC.

Unfortunately, the broker, by his actions has communicated that he is not interested. No phone calls or texts. I won't lie, I wouldn't feel comfortable working with him at this point. Most realtors in my area are amateurs who sell pretty houses every now and then.

I was able to buy this place at an incredible price because it needed work and the new realtor didn't know how to price it.

--174.245.xx.xx




Sell My Multi Myself? (by MMIT [VA]) Posted on: Jun 19, 2024 5:30 PM
Message:

Jerry,

My son and DIL are buying in NC.

Can you give me any more information?

Thanks --184.187.xx.xxx




Sell My Multi Myself? (by Ray-N-Pa [PA]) Posted on: Jun 19, 2024 9:21 PM
Message:

Jerry,

I know you from various conferences. You display strong leadership skills. I wouldn't be surprised at all if you were in the military.

I have been successful selling smaller multi's on my own. I didn't do as well using CREXI and LoopNet when I was selling a 41 unit. In the end, I sold that place to another investor that I knew without using the internet.

If you do list on those larger commercial platforms, the brokers that call you speak a different language of words like basis points and operating margin. I was taken back as I am a simple value add kinda investor.

If you elect to do this and you need any assistance, I am one call away - especially if you are a veteran. I love that you help so many folks at the convention and I am willing to help anyone who is a giver. --24.101.xxx.xxx



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