Hey all-
I’m about to put my small park in SE Arizona on the market. I feel like I don’t need a realtor to market it for me. I would plan on using a real estate attorney for the paperwork, and save the realtor’s fees. Thoughts on this? Anyone done it who’ll share their experience? Pros/cons?
Thanks -
Dave
It is not that hard to sell a mobile home park without a broker, as long as you are willing to answer the phone, and provide the information that buyers want in a timely manner.
Getting your phone to ring off the hook with buyers is not hard right now. You can list your park on Mobilehomeparkstore.com and Loopnet.com and you will start getting calls immediately.
What you need a broker for, in some cases, is what you do once the phone starts ringing. If you are not going to answer promptly, return calls, put together sales packages and mail them out quickly, show up at the property over and over and walk the buyer around, then you need to admit that you’re not really a “sell it yourself” kind of person and hire a competent broker. In addition. good brokers normally have potential buyers already in their stable, so they can also increase your odds of finding a buyer as well as processing them.
Frank -
If you had to sell a park, whom would you do it through? Who are the brokers in your opinion?
-jl-
It is a little like doing your own taxes. The hard part is preparing the data (which is what you have to do anyway). Punching the numbers into a tax program (or a marketing template) is the easier part. Of course as Frank says, the broker will screen buyers and have some networking ability that the average park seller does not have.
Bret
Before I sold my apartment buildings I thought about hiring a broker to handle the sale then I reflected on the fact that as the manager/landlord, I had been showing and selling my properties for years–every time I had a vacancy. So, I did it myself and the title/escrow company did all the legal work for a few $k.