Should Your Property Management Company Sell Your Rental?

 
 

Should Your Property Management Company Sell Your Rental?

You have a rental property and have decided it is time to sell.  Whom do you call?  If you have a trusted Realtor who is a local expert, that might be the right call.

But it is my experience that the best party to assist you with the sale of your investment property, may be the same people who have been managing it.  If a Realtor has referred a client to us, we always refer the client back to that agent.  But the vast majority of the properties we manage have found us through our marketing, are referrals from current clients, or discovered us through Google or Yelp.  So when they decide to sell, I can give them 6 reasons to consider using our services:

  1. We know the tenant. Usually, we have an ongoing relationship with the tenant.  We have corrected any issues, collected the rent and interacted with them on a consistent basis.  They trust us.  When an owner decides to sell, rather than coming in and coming on strong, trying to get them out of the property as quickly as possible, we work with the tenant.  Very often we will offer them a month discount (say $200 on a $2,000 rental) and if they allow us to show the property easily and they keep the property in good showing condition, we will give them these funds at move out.  We also help them find their next rental and keep them in the loop on how escrow is proceeding and provide ample time for move out.  They become our ‘partner’ in the selling process rather than an adversary.
  2. We know the property. We have managed most of our properties for years and know their particular issues.  We know the area, the comparable sales and benefits of the community.  Since the tenant is cooperating with us (see #1), we can show the property to prospective clients and be there for questions.  We are not an ‘out of area’ agent with limited knowledge of the property or the city; we have been managing your property for years.
  3. We have the experience. We have been in the real estate business for over 20 years and have sold hundreds of properties.  We offer an “8 Step Home Prep” program whereby we prepare our listings for the market and “6 Seller Performance Guarantees” so if we don’t perform as promised, we pay a price.   You are not just hiring a Realtor, you are hiring a real estate expert, particularly when it comes to selling rental properties.
  4. We may give you a discount. Should you decide to sell, the first person we call once the contract is signed is the tenant.  It is fairly common for the tenant to be interested in buying the property they are renting.  They may love the property, their children may be enrolled in the local schools, and the thought of moving may move them to make an offer.  If they do, we charge our owners less.  It is not uncommon for us to charge half the amount a typical agent would to represent both parties.
  5. We have a history with you. If we have managed your property well, you should feel secure that we can provide the same level of service during the listing and sale.  You have come to expect compelling value propositions, complete transparency, great customer service and fair pricing from our property management division, and you should expect the same from our real estate group.  Why take a chance on someone else?
  6. There will be no awkward dance. When an owner does decide to hire their own real estate agent, there is always a communication issue.  The outside agent may negotiate terms that are in conflict with the lease agreement, or violate the tenant’s rights to quite enjoyment of the property while they are marketing it.  We are there for all parties to facilitate a successful transaction and eliminate this potentially awkward situation.

 

Picking an agent to sell your property is about picking the professional you trust with this important transaction.  If you trust your property management company, it is certainly worth talking to them about what they can do for you.