Don't Hire Your Friend to Sell Your Duplex (Until You Read This)

[Adam Tafel]

If you're buying or selling a duplex, triplex, or fourplex in the Twin Cities, choosing the right real estate agent can have a much bigger impact on your outcome than most people realize.

The truth is, most people hire the wrong agent for the job.

And honestly, you can barely blame them.

There are Realtors everywhere. Getting a real estate license doesn't take years of experience, and not every agent specializes in the same type of transaction. Some focus on luxury homes. Some primarily work with first-time homebuyers. Others build their business around condos or new construction.

Very few spend most of their time helping clients buy and sell multifamily investment properties like duplexes, triplexes, and fourplexes.

That's an important distinction.

Buying or selling an owner-occupied duplex isn't the same as buying a single-family home. Investors care about things like rental income, operating expenses, leases, cash flow, future rent potential, and value-add opportunities. Sellers need an agent who understands how investors evaluate properties and how to market those opportunities to the right buyers.

The same goes for buyers.

An agent who regularly works with Twin Cities multifamily properties knows what rents are realistic, which neighborhoods perform well, how owner-occupant financing works, and what details can make or break an investment.

Could your friend who's a Realtor help?

Absolutely.

But are they the best person for your deal?

Probably not.

Whether you're buying your first house hack or selling a fully rented fourplex, hire someone who has successfully handled that type of transaction again and again.

Experience isn't about having a real estate license.

It's about solving the same problems repeatedly for clients with goals just like yours.

If you're thinking about buying or selling a duplex, triplex, or fourplex in Minneapolis, St. Paul, or the surrounding Twin Cities suburbs, I'd be happy to walk through your options and help you determine the best strategy—even if you're still months away from making a move.

[Brandon Vukelich]

I see it far too often...average "realtor" gets to sell their relative's small multifamily but has never sold or owned an investment property in their career or life. They don't know how to market it, don't understand the financials and how to price it, don't know how to properly manage the process of dealing with tenants (for inspections, showings) and how to complete the hand off at closing. 

Too many realtors try to be something for everyone. Buyers and sellers should ask very simple questions up front such as "How many multifamily have you sold in the last year?" and "How many rentals do you (or have you) owned?" 

Best for agents to say in our lane and become the expert in our niche, otherwise you're doing a real disservice to the client.