Zillow's "Make Me Move" strategy?
Hi all,
I have just put 2 properties in the LA county area (one SFH, one Multi Family) on the "make me move" section on Zillow. I set the prices quite high to gauge the market for them not thinking there would be much interest. I now have lots of agents contacting me for more information, asking if the properties are under contract, and asking to meet directly. I'm not sure if this means there is actual interest or the agents are just looking for more information. I don't want to spend my time meeting with agents unless there is a buyer, and I don't want any viewings or inspections until we are in escrow as I do not want to disturb the tenants.
What should my strategy be from here? I was thinking:
- Give agents as much accurate financial information on the properties as possible (net income, pro forma rents, how much work needs done, what can be added to increase rent etc..)
- Inform agents I will only proceed with them if they have a buyer ready, with pre-qual letter, if they do then I am willing to have them act on both my end (seller) and the buyers behalf with a lower commision, as they are taking the full commision?
- Once things are heating up, inform the tenants that we are looking to sell so they should prepare to either find another place or have a new landlord in the upcoming months, they are on month to month contracts so there are no long term lease issues however I would like to give them as much time as possible if they do have to move out.
Is this a reasonable strategy? any input is much appreciated thanks!