What do multifamily specialists have to know that residential agents don't?

Posted by on Thursday, October 30th, 2014 at 5:30pm.

Agents who specialize in multifamily housing are required to know several things that residential agents don't need to know.

This specialized knowledge begins with pricing. Investors purchase multifamily housing to get a return on their investment. Thus, we have to know how to price a property to get the best return for the seller while showing the buyer that their investment will yield a return.

That means gathering the numbers, then calculating the income versus the expense, including debt service. Then, because potential investors are business people primarily interested in return on investment, we must present those numbers in the same manner that an accountant would present them. Unfortunately, many residential agents simply don't know how to do these calculations or presentations.

While investors are interested in location, condition, and desirability to future tenants, those features are all reflected in the income, expense, and occupancy records.

Since many investors purchase multifamily properties that could generate higher rents after a bit of cosmetic work, we also need to know the going rents for other multifamily properties in the immediate area, along with the vacancy rates.

Then we have to know where to find those investor buyers.

I do know, and I'd be pleased to put my knowledge to work for you.

So if you're thinking of selling, give me a call. I'll be happy to discuss the possibilities with you and show you what I do to sell my multifamily listings.

P.S. Of course there's no obligation when you call. I'll be happy to talk with you even if you decide that now is not the time to sell.

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