Want to offload your investment real estate in the Greater Chicagoland area or NW Indiana? Looking to sell a recently renovated home as a property flipper? Read more to learn the ins and outs of selling your investment properties.
So you have decided to sell your investment property. Maybe the kids have gone off to college, and you no longer need the space, maybe you’re retiring and don’t want the worries of an investment property, or maybe you’ve made a career out of fixing and flipping real estate — whatever the reason is the agents of Dior Realty Group are here to help you.
There are five important steps to take when selling your investment property. Below we’ll list them to help make sure you’re on the right track.
- Hire a Reliable Realtor
- Obtain the Real Market Value
- Declutter & Make Repairs
- Schedule Professional Photos and Videos
- List Your Property & Trust Your Realtor
Your choice of realtor could make or break your property marketing and selling experience. Don’t try to do it alone. When selling with a realtor, property sales are higher – at an average of 18.6%, is more secure and offers peace of mind to the seller as it removes the weight of doing it alone. It would be best if you worked with a realtor who has experience working with investment properties. No matter if your investment property is a multifamily investment property or a single-family home investment property, an experienced agent will know how to show the investment property to different buyers, whether professional investors or first-time investment buyers.
Realtors who work in multifamily markets know about rent prices, trends, and how to sell your home at the best price. They also know what’s needed and how to best prepare the documents and numbers that would be requested once a buyer is under contract, such as rent ledgers, leases, monthly expense reports, and more. Afterward, an introduction can be made to the tenants advising who the realtor is so that everyone can feel considered and become acquainted. This will also help when showings are conducted to ensure tenant cooperation.
Now that you have hired a Dior Realty Group broker to help with your selling experience, you’ll need a true market analysis of your property. Your broker can gather the value of your property based on the state of the current market and sale trends in your area. Although your broker is not an appraiser, your broker can visibly assess the property to let you know areas that could benefit from repair to aid with increasing the market value.
You know the true market value and what repairs to make to increase your property’s market value. The next step is to declutter & make repairs. Sometimes decluttering can be overwhelming to do alone and can seem impossible with active tenants in an investment property. Brokers like Dior Realty Group have a network of cleaning and organizational companies that can assist. Don’t know any licensed contractors qualified to do the repairs? Dior Realty Group can help — just ask your realtor. Your realtor is there to assist you with every step; after all, we want to ensure you have the best property marketing experience, and we want to sell your property at a rate that puts more money back into your pockets. The sooner a property is decluttered and repairs are made, the sooner we can begin advertising on the market.
Just as your choice of realtor can make or break your property’s marketing experience, so can the manner in which your property is marketed. Most people like to cut costs and try to video and photograph the property themselves, which oftentimes only slows down the marketing process. Professional photos and videos really help to capture the true essence of a property to draw in and create a wider audience. The goal is to give your property the highest advantages possible when marketing and professional material can do just that. With Dior Realty Group, your top-tier, professional marketing is on the house — it’s our gift to you.
The hard work is finished. Now it’s time to list your property and see the fruit of your labor. Trust that your realtor has the best intentions for you and your investment. Although your realtor will try to make the routes as smooth as possible, the roads can sometimes get a bit bumpy, but that’s why you have a team to help. Trust the process, and trust your realtor to successfully get you to “closed.”
If you’re ready to get started with selling investment real estate in the Greater Chicagoland area or NW Indiana, reach out to the experts at Dior Realty Group for more information.