How We Can Help You Sell Your Multifamily Property for Top Price

How We Can Help You Sell Your Multifamily Property for Top Price

What’s up everyone? Chris Kennedy here and I am the principal broker and founder of Mayfair Real Estate. And what I do is I help investors to buy and sell multi-family apartment buildings right here in our local market, Fort Lauderdale in Broward County, Florida. And this video, I’m going to summarize a few of the reasons that you might want to work with me and my team if you’re an owner of multi-family apartment buildings here, and you’re considering listing those properties for sale. In this video, I’m going to give you a few reasons why we can do a really great job for you. And I’ll just jump right into it. First and foremost, you have a lot of options when it comes to brokers to work with to list your property for sale. One of the most important things you need to consider is the level of experience and the type of experience that that broker has.

So I got into real estate back in 2009, first and foremost, as an investor. And I’ve been investing here in our local market ever since. So I’m very familiar with the local markets and I see things from the investor point of view, not just from the broker point of view. That’s very important when you’re dealing with someone that they speak your same language, right? So we have not only the experience of being in the business since 2009, but also of dealing exclusively with investment real estate 24/7. So that’s point number one. Number two, you probably are also aware that we have a partner company, Mayfair Property Management, and we manage hundreds of apartment rentals here in our local markets. So we manage numerous properties for a lot of real estate investors, and that is critical for you as a potential seller, because that means we have a very trusted relationship with a lot of investors whose property we already manage.

And those investors are proven buyers, right? They already have purchased property in our markets and they work with us to manage that property. So these folks have already demonstrated their capacity to purchase. They have a working relationship with us, and quite frankly, that creates a lot of trust. So when I come to those investors whose properties we are managing, and I know they are looking for additional properties to add to their portfolios. And I come to them and say, hey, I’ve got a listing here. They take that very seriously because they know that we do a good job managing those properties. We present the evidence to them that these properties could be good potential investments. So it carries a lot of weight. This is something that most other brokers and most other companies, quite frankly, cannot offer you. Most listing brokerages are exclusively focused on listing, and they do not have a property management division, and they do not have a relationship with our clients other than the brokerage relationship.

So that brings me to kind of the third point here, which is that as a property management company, we are often the first point of contact for those investors who are coming from out of state or out of town, right? People looking to get into the South Florida markets often will look first for property manager before they start looking for other brokers. So while we have our brokerage operation here, the property management website, our property management company is often the first point of contact for out of state or non-local investors, because they want to figure out who would be managing their investments before they even decide to purchase in an area. So a lot of times we are the first point of contact because investors are trying to research a market get an understanding of the nuances of properties and markets locally.

So that means for you as a seller, we are frequently… We have that relationship with those new people to the market long before the other brokers do. So that’s another reason that you might consider listing with us because we can then bring those clients and bring those potential buyers to you as a seller and say, hey, these folks are coming from out of town. They’ve got established business in other states, and they’re looking to pick up a portfolio down here. This happens all the time. It’s a another great reason to work with us. Now, I’ll say the last point here. And there are some other things we can go into, but the other main point may not be true for every single seller client that we work with. But it’s definitely something to consider if it applies to your situation. So what happens is a lot of seller clients, people who’ve owned property maybe for a long time. So you might’ve owned an apartment building for 30, 40 years.

Or maybe you have a property, haven’t owned it for so long, but for whatever reason, it’s become either mismanaged or the rents are not high enough, or it’s just not performing optimally. Well as a seller, obviously you want to present that property to the potential buyers in the best light possible, right? So again, going back to the strength we have on the management side, that helps us to help you as a potential seller. What we can do for you is something that no other brokerage can do for you. We can basically take over your property as a management company. And if we can do a pre-listing management contract that could range in time from anywhere as short as I would say, two months up to maybe six months prior to the date that you wish to sell. Okay? So as a seller, you have no control over the market, right?

Interest rates are going to do what interest rates do, buyers and sellers, supply and demand. That’s going to fluctuate. You can’t do anything about it, but what you can do is get your property well-managed so that it is performing optimally for the given market conditions. And what I’m saying is if you have a property that’s maybe not performing quite at peak, maybe you’ve moved out of state yourself, and you still have this apartment building. For numerous reasons, somebody may have let an apartment building get to a place where it’s not quite running as well as it should. That might be one of the reasons you’re considering selling, but don’t sell yourself short. Don’t lose money because you don’t have rents up at market rent, or you haven’t taken care of basic deferred maintenance items. Or on other cases, you might even consider investing some additional capital into the property to really push up the rents and drive up the value.
As an investor, you know that the value of your apartment building is based on the net operating income that you can generate. And that is created by increasing rents to market, really cutting any fat out of those expenses that maybe they’re renegotiating certain contracts. And then, boosting the curb appeal of that property, really presenting it as well as possible. So you can work with me and my team to optimize your property prior to listing for sale. So that’s something without a doubt other brokers cannot offer you. So give that some serious consideration.

Okay. If you’re interested in talking to me about potentially selling an apartment building, I’d love to hear from you. You may not be at that point yet, but if not, then go ahead and I encourage you to go ahead and download our due diligence checklist. You can get it at the link below this video or on our homepage. And that due diligence checklist is something that I provide totally for free. There’s no obligation, but it’s something that I provide for our investor buyers. And I use it myself when I am purchasing an investment property. And the reason you as a potential seller will find it useful and get a lot of value out of it is it’s basically a checklist of items that you’re going to need to provide to a potential buyer for your property.

So it’s kind of a checklist of, hey, how do I get my ducks in a row in order to prepare my property for sale? So go ahead, download it right there. It’s completely free. Again, no obligation, and it should provide some good value for you as a potential seller. Thanks a lot for listening to this video. I hope that I’ll hear from you soon. And if you have any questions at all, want to reach out, you can fill out a form on this website or give us a call. I am always happy to talk to other investors and one of the things that I love doing. So look forward to hearing from you. Thanks a lot. Take care.

Christopher Kennedy

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