Investment Property Selling Strategies
Marketing Marin's income properties is an art at which I am adept. Below is an outline of what I will do to ensure your property sells for the highest and best possible price.
Exposure is the key to selling your investment property for the highest price. It must be a coordinated effort combining high quality and accurate materials that "sells" the property.
While I may represent both the seller and the buyer in some transactions, it is more typical that two agents will be involved in the sale (myself representing you the seller, and another agent representing the buyer). My job is to reach all agents and potential buyers that might have an interest in your property and provide detailed information that will sell them on your building.
- Agent Networking - With over 25 years of experience and a reputation as the top apartment agent, other agents regularly call me with their buyer's needs. I will also contact all income property agents and give them information about your building.
- Mailers - A photo just listed card will be mailed out to over 500 Marin income property owners, as they are the most likely candidates to buy. I send out a regular marketing newsletter to these same owners. An e-mail update goes out to a long list of buyers and other interested parties.
- MLS - Since there are only a handful of agents that regularly sell apartment buildings, many buyers are represented by various residential agents. These residential agents primarily obtain their information through the Multiple Listing Service. Your property will be presented on MLS in a manner to attract agents and their clients.
- Detailed Brochure - I will produce a detailed brochure that provides information with your property's description, location, financials (current and projected), comparable sales, photo tour and parcel, street and satellite maps. This brochure will be given to every principle or agent inquiring about the property. It will also be available on all websites I utilize.
- Advertising - Your property will be advertised regularly until sold.
- Internet - Your property will not only be placed on the Frank Howard Allen website (fhallen.com) and the #1 Internet investment site (loopnet.com), it will also be placed on my own site (MarinApartments.com), which is complete with a photo tour and a downloadable brochure on your property.
- Personalized Property Website - A domain name will be registered similar to your properties address (i.e. www.171Novato.com). This web address will appear in all ads, mailers and on the rider of the for sale sign. The address will link to a photo tour of the property with enough general information to generate positive interest in your property as well as a printable brochure.
- Marketing Group - I am the chairperson of the Commercial Investment Marketing Group North Bay (CIMNB). We hold monthly marketing sessions for commercial agents to "pitch" their buyers and sellers (haves/wants). Many sales take place in this often overlooked marketing technique.
- Showings - Unlike residential real estate, potential buyers cannot be allowed to regularly tour an apartment building for sale - you would have a tenant uprising! Potential buyers must be carefully pre-qualified before taking them through an apartment's interior. I prefer to personally accompany all showings to qualified and interested buyers after they have driven by the property and reviewed our brochure.
Any one of these exposure techniques may bring about a sale, the highest price is obtained by the coordination of all of the above timed to the property's introduction to the market. You must reach all potential agents and clients in a timely manner to achieve total exposure.