Home Selling in Phoenix>Question Details

Sofia, Home Buyer in Evanston, IL

I am looking to sell a 4 plex in Phoenix. What do I look for in an agent?

Asked by Sofia, Evanston, IL Wed Dec 19, 2012

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Ryan Buckley Realtor®
Turning your Dream into an Address
Coldwell Banker Residential Brokerage
twitter @rcoldwellbanker
0 votes Thank Flag Link Mon Feb 4, 2013
An agent that has specific experience selling those types of properties. Ask the agent to show you similar properties that they have marketed and actually SOLD. All the best!
0 votes Thank Flag Link Wed Dec 26, 2012
Several agents have indicated that they may have a buyer for this property. We would love to have you sell it. We put it on the market yesterday as listing 4865597. Please contact me if you need additional information on the property. It is a 4-plex listed at $104,900. and offers a good return on investment for your buyers.
0 votes Thank Flag Link Sat Dec 22, 2012
I would read reviews of agents online as well as ask friends or family that you trust for a referral. In addition to that make sure that you interview a few agents for the job and do not be afraid to ask questions!

An agent that has experience in selling multi-unit investment properties is probably best to list this home for you.

Good luck!
0 votes Thank Flag Link Sat Dec 22, 2012
Hi Sofia. I am pretty much a bottom line guy. I would look for some of the following:

--Over 15 years experience.
--The average agent performs about 5 transactions a year. I'd want an above average agent who does over 20 per year.
-- I'd like the agent to have a fair amount of property management experience.
-- A great listing agent will take 30+ professional pictures of the property, create a virtual tour, maybe make a video tour and place it on YouTube, provide color flyers out front, use QR codes to help market the place and more.
-- I want an agent who pays the extra fees required to have premium placement on Zillow, Trulia, Realtor.com and Yahoo Real Estate.
-- I want someone who has actually listed and sold some multifamily properties in the past year.
-- Maybe I'd want an agent who affiliated with a top tier brokerage that can leverage it multi-thousand agent base to sell your 4-plex.

These are just a few ideas that may help. By the way, I hope we have an opportunity to interview for the job.

Gene Urban
0 votes Thank Flag Link Wed Dec 19, 2012
Hi Sofia,

First I notice you are in Evanston...I re-located from the Chicago area (Buffalo Grove) 6 years ago!

So, the first thing you know about me is I have that good mid-western work ethic!

Many of the other respondants are right on the nose with the information they have given you. Investors are a large portion of my client base, both on the buying and selling side. What is key is for you to be working with someone who knows how to help you reach a fair and marketable asking price and who knows how best to market the property. I disagree with an earlier statement that tenants should only be bothered after you have an acceptable offer; that will cut down on the number of offers you receive and in AZ, you have the right to show the property with 48 hours notice. Making the tenants part of the process helps them feel more comfortable, particularly if they want to continue after their lease expires.

I hope you will contact me ...I would like to talk to you more! Let's see if we are a good match for one another!

Eileen Shapiro
Realtor, SFR
Nextage Realty Professionals
0 votes Thank Flag Link Wed Dec 19, 2012
Hi Sofia,
You need an Agent who knows the market area very well. An Agent who works with investors. An Agent who has helped a client purchase and sold this kind of property in the past. A knowlegeable Agent in the area. I have helped many clients buy and sell investment properties. I currently have two in the market. I also have investors that are looking to buy. Call or e-mail me today.

Grace Adewumi
Realty One Group
0 votes Thank Flag Link Wed Dec 19, 2012
Hey Sofia, I would be sure to pick an agent that specializes in multi-family housing so they are familiar with the general things that come along with multi-family housing. I would also pick an agent that is familiar with the area you would like to purchase. Sometimes they immediate area can be nice but the surrounding area could be really bad. Also they will be more familiar with city restrictions. I would say those are the two most important things to look for in your agent. By talking with them and asking them questions you will be able to tell if they are truly the agent you need.
0 votes Thank Flag Link Wed Dec 19, 2012

I have a client that is looking for a four-plex can you send me some info on the property?
Thank you,

Edie Womack,
email: edie@todaysremarket.com
0 votes Thank Flag Link Wed Dec 19, 2012
Hi Sofia

You need an agent who understands income property investment from selling to working with buyers. I have sold plenty of multifamily and some commercial. With multifamily you need not only be on the MLS but also have access to Co-star and or loop net or both. The commercial market is booming and selling a four plex should not be too difficult. Make sure whoever you have lined up also has a lender that can finance the buyer unless you can and should have a fair share of buyers paying cash. Also make sure that the agent you hire be bilingual as the Phoenix market has a huge population of Spanish speaking buyers, tenants, etc.

If interested in hearing what I do to sell your property feel free to call or email me, my contact is below.

Juan Pesqueira
American Associates Real Estate
Homes | Condos | Investments
Spanish and English speaking Realtor
Realtor, Appraiser
8930 E. Raintree Drive Suite 200
Scottsdale, AZ 85260
Office 480-458-8007 | Fax 480.767.7200
email: pesqueira2@cox.net
0 votes Thank Flag Link Wed Dec 19, 2012
I would suggest looking for an agent who specializes in investment properties. We have many cash buyers looking for multi-unit properties that can close quickly which may help with your tax situation. Let me know if I can be of further assistance.
0 votes Thank Flag Link Wed Dec 19, 2012
Marketing income property is quite different from selling someone a home. You want an agent that knows how to present the income and expenses on the property to a potential buyer as buyers are all about the numbers. Buyers look at cap rates, internal rates of return, tax advantages and market rents to make their decisions. I believe the property should be marketed without bothering your tenants. Only when a qualified buyer with an accepted contract with you has been found would we need to make arrangements with the tenants to view the property. Having an agent that is a specialist in multi-family properties is a must. I would really like to have the opportunity to discuss marketing your property with you.
0 votes Thank Flag Link Wed Dec 19, 2012
Dear Sofia:

Someone you feel comfortable with and has knowledge of the local market.

In addition, here is a list that I use for my clients.

Real Estate Licensees that are members of the National Association of REALTOR®s, may also call themselves REALTOR®S. They are bound by the Code of Ethics to treat all parties fairly and honestly, and to strive to preserve a higher degree of knowledge of the buying and selling process.

In addition, your Agent shoulders the responsibility to protect your best interests and guide you every step of the way throughout the buying process. Here are a few examples of what you can expect your REALTOR® to assist you with:

Completing a Market analysis and Market Value assessment
Listing your Property in the MLS
Advertising your property to Buyers and other REALTOR®s
Assisting in the preparations to sell your home
Interior Assessment
Exterior Assessment
Gathering Community Information
Preparing the Contract and any additional documents
Helping negotiate any Counter offers or other terms of sale
Identifying Buyer Qualification
Following Loan Process
Opening escrow and depositing Earnest Money
Coordinating Home Inspections
Evaluating Inspection data and determining issues
Obtaining Home Warranty policies
Maintaining deadlines and timelines for performance from both parties
Communicating with both parties throughout the transaction
Conducting walkthroughs
Determining if all negotiated items have been completed
Reviewing the Settlement Statement prior to closing
Confirming receipt of Title Insurance and Commitment
Coordinating the closing process
Providing excellent service throughout the transaction

As you can see, this list is just the foundation for successfully selling your property. Interview your Realtor and ask him about the services to be provided.

Jeff Masich, Realtor, GRI, MBA
HomeSmart Realty
0 votes Thank Flag Link Wed Dec 19, 2012
Hello Sofia:

You look for an agent that is such a good person, they remain friends with their ex-brother-in-law (me) and invite them over to dinner for both Thanksgiving and Christmas. You look for someone whom has lived here in The Valley of the Sun almost all their lives (knows the market and the people whom live here); was a teacher to our high-school kids for 20-plus years (gives of themselves); and, you look for someone whom now brings that caring and compassion to the real estate business, by doing the best they can by their clients on a one-by-one basis, creating a win-win-win situation (cares about the people they know and keeps that ahead of the almighty dollar), . That is what I would look for in an agent, as it seems so rare in the industry...

Call: Randy Bishop, Better Homes and Gardens Realty; (480)-209-2383, RandyMBishop@yahoo.com.

Happy Holidays.

Bill Parker, Loan Officer
AZ Lic# 09011570
NMLS #223607
CPA--Licensed, no longer practicing

GenCor Mortgage Inc.
15730 N. 83rd Way, Suite 103
Scottsdale, AZ 85260
(O) 480-525-8496, EXT 743; (M) 602-565-3646; (F) 480-779-1374
EM: BParker@GenCorMortgage.com
Website: http://www.GenCorMortgage.com
LinkedIn: http://www.linkedin.com/in/billparkercpa

MISSION STATEMENT: To create an unbelievably enjoyable experience for my clients, while guiding them through the most important financial transactions of their personal lives. My clients know me as their Mortgage Lender for Life. I truly appreciate your referrals.

If you think it's expensive to hire a professional to do the job, wait until you hire an amateur.
Red Adair, Oil well firefighter
0 votes Thank Flag Link Wed Dec 19, 2012
Hi Sofia,

The other responses are both very good. Neither of them mention your agent should have a good understanding of Federal 1031 Exchange rules and process. Without the 1031, if you plan to re-invest you will pay capital gains on the sale of the fourplex. As with everything, there are a few exceptions and hoops to jump through. Your agent should be well versed in investor sales/purchases. Did I mention I can do all of that for you? Give me a call and let's talk.
0 votes Thank Flag Link Wed Dec 19, 2012
We have sold four 4-plexes and two duplexes this year. We are experienced investment property agents and would be happy to help you with your 4 plex.
0 votes Thank Flag Link Wed Dec 19, 2012
Sofia -

I would love to offer my services. I work with investors and investment properties on a regular basis and am very experienced at listing properties. In fact, I have listed and sold over 30 properties this year and am a multi-million dollar producer.

Other than experience, I could offer you another important quality - communication. I am involved in the properties I sell on a daily basis and maintain continued communication with my clients.

I would love the opportunity to help you sell your property. I know you wouldn't be disappointed.

Natalie Worden
Home Smart
0 votes Thank Flag Link Wed Dec 19, 2012
Thank you for the opportunity to work with you! I am a highly experienced agent and have handled many listings (including investment properties). I understand the Landlord Tenant Act and would work with you tenants (if you have any) to coordinate a stress free closing on the house. I am available to run by the property anytime to check on things for you. Additionally, I have an extensive marketing program that I can go over with you so that your property sells for the most amount possible. I work with many investors and have a pool of potential buyers for your home.

I have extensive recommendations from my clients on my Trulia.com profile that you can see by clicking on my profile picture to the right of my response.

I was born and raised in McHenry County, Illiniois--BTW!

Looking forward to hearing from you soon, Sofia!
0 votes Thank Flag Link Wed Dec 19, 2012
Experience, ethics, common sense, experience, midwestern values are good, availability, knowledge of multi family, someone you trust and like.
0 votes Thank Flag Link Wed Dec 19, 2012
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