How do we choose a broker to sell two mobile home parks in Southern California?
I’m a real estate broker but haven’t sold parks. Our company just has these two. We want to list them for sale in about 60 days (once we finish replacing some asphalt and slurry sealing). I’m inclined to hire a commercial real estate broker who specializes in mobile home parks. Is that a good idea?
If so, how do we choose who to hire?
And what should we expect them to do?
Another option is to sell it ourselves. We can put them on Loopnet & Co-Star and CRMLS (the So Cal regional MLS) and Craigslist & the WMA magazine, and we can look into getting a list of all California park owners and send them the listing. I’m very experienced in residential real estate, and was a fairly high volume listing agent. But, it seems like there may be good reasons to instead hire a mobile home park broker, to get more exposure and have their expertise.
Should we expect a mobile home park broker to do marketing beyond what I’ve listed above? Should they have a big list of potential buyers, or will they in reality just have a few they work with, and other than that, be basically doing the marketing I’ve listed above (Loopnet/Co-Star/MLS/Craigslist/WMA/direct mail to park owners)?
And do we want a broker who has sold parks all over the US, or one who sells mainly in Southern California?
We’ll be really grateful for your thoughts, especially if you’ve owned parks that you’ve sold.
Many people here don’t use brokers to buy parks, including myself. I’ve had great success working directly with park owners and I haven’t had much luck with brokers, but other’s may have different experiences.
You’ll likely get a lot of interest in your parks by listing them on this forum ‘Two So-Cal parks for sale’ and by using the Mobile Home Park Store website.
Data that buyers will want; Park income, proof of income (deposits and tax filing info) rent roll, surveys, basic park info (lot rent amount, amount of lots (occupied and unoccupied), quantity of park owned homes, quantity of tenant owned homes, expense info… these are the basic things which you probably already have.
I’m in So Cal and would be interested in purchasing your parks. My email is steve@ansoproperties.com, please send me an email so we can discuss your parks.