I'm looking for a realtor in Oakland, California with a track record for selling duplexes well over asking. Purchased mine in 2015 for $710k, added ~$165k in repairs, and most recent appraisal value is $1.23M. However, the building has challenges that I need to talk through with someone familiar with the market and multifamily renovations. Please message me referrals if you have them. Thanks!
@Britt Mauriss - Nice appreciation! A track record of selling a lot, well over asking, means they’re not pricing it at market (like 1.25m) to start with. Any real estate agent on your mls can look up the historical performance of multi family units in Oakland and tell you which agents are selling a lot of them or agents who have sold them near you. Did you not like the agent you bought with 3 years ago? In NJ and PA, I am very aggressive with my marketing (local letters, weekly open houses, free staging, professional photos, great descriptions.) Interview to make sure you’re getting someone hungry / who works hard. I’ve had a lot of difficulty getting showings in tenant occupied multi family houses because of the disruption/ notice to the tenants required. You probably don’t want to lose the $$ from having it occupied either. Many male brokers blew off my calls and my buyer clients because they wanted to get both sides of the deal. Don’t hire someone like that please. You won’t know what offers you would have but don’t receive because of this behavior.
@Natalie Schanne Hey Natalie, thanks so much for taking the time to share your insights. Is it common for realtors to offer free staging? I'm not sure if that typically happens in the Bay Area. Things are so competitive with high realtor fees and most homes selling for 10-20% over asking. I did contact the agent I originally purchased with and am working unofficially with him to get quotes for kitchen upgrades before prepping the building for sale. He called a handyman who did work on the building before I bought it to ask if he might be available to help us with the kitchens. Apparently the handyman has been looking for an investment property and is interested in potentially making an offer, which reminded me of your comment about guys trying to get both sides of the deal. This realtor was actually our buyer's agent and the seller's agent during my purchase 3 years ago. He offered to take a half percentage off his fees (4.5% total) if we end up selling to his client. I don't think that's nearly enough. In your experience, how much work is involved for a realtor in these types of transactions? If he doesn't have to list the building, do any marketing, hold open houses, or negotiate with multiple buyers/offers, what's left for him to do? Doesn't seem worth a commission of $50-60k, but please correct me if I'm missing something here. Either way, both units are vacant and I'm leaning strongly toward listing the house, even if staging and all the other costs are high, to see what offers come in... you're right that we may miss out otherwise. Thank you again!