I have my fourplex listed on mls and zillow, sign posted, is there anything else i can do marketing wise to get more eyes on it to get offers?
@Jerry Rice did you get professional photos done? Having great photos will get people off the computer to come see the property. Also, did you draft a proforma investment summary so any potential buyer can easily see how great their investment will be? Most people think the buyer should run their own numbers (and yes if you are a buyer you should run your own numbers) but you as the seller, you need to put numbers together to market your investment. Always be selling, good luck.
@Jerry Rice You can market it in different investment groups either local to you or on facebook. Are you working with a realtor? A good realtor will be best to get your property sold at top dollar and quickly. Theyll do all the marketing for you.
@Jerry Rice - I'm thinking in line with @Danny Randazzo , meaning I would market this more like a commercial deal. First I would go on loopnet.com find a similar smaller MF property and download the Operating Memorandum. Which is basically a marketing package that commercial brokers use when listing properties.
The "OM" typically includes:
- 1. Brief description of the property. # of units, SF, construction, roof type, heating source, etc.
- 2. Interior and exterior photos.
- 3. Listing of any improvements recently done.
- 4. Brief description of the neighborhood / market etc. and mentions of it's benefits. List local employers, retail etc.
- 5. Your proforma financials - showing what the current and / or projected NOI.
- 6. Rental comps backing up what you are stating as the market rent in your proforma.
- 7. Sale comps backing up your asking price.
Once you prepare your own version of an OM market it on BP marketplace for starters, craigslist, ebay, facebook, instagram, ForSalebyowner, loopnet, and possibly try Redfin who I believe offers a reduced commission for listing properties.
Lastly print out your OM and go to local REIA meetings and pass out to other investors.
I love listing properties with realtors for one reason:
Realtors deal with the headache.
thanks for the replies, i do have it listed with a realtor, just kinda anxious because i want to take the profit and move (im in the SF bay area.....) so far on zillow up 9 days, 270 views, 5 saves
Definitely get it on Loopnet. Also contact local investors with other buildings. Some might like to add to their local portfolio. It also helps spread the property management fees out to have more units.
Another approach is to advertise it to tenants since it's 4 units and they can purchase on FHA and live for free. Be sure to include that in your Zillow listings as well. Most people don't know that unless they are already in the business of landlording. Good luck!
If apts have tenants , it is better to show yourself and to know the real price. And you are the person who knows the selling points for buyers, not agents.