A real estate agent approaches you about selling your rental property. Tempting- yes. Smart? Maybe not.
Although most of our employees are real estate agents per se, we do not sell real estate. We believe that selling real estate and doing property management are two vastly different areas of expertise.
Property Owners in a hot market are bombarded with postcards, emails and social media saying “Sell Now” or “Hot Market- You gotta sell now!”. Often panicking situational owners into selling prematurely instead of becoming strategic owners and holding on to their investment- using it to buy more!
Now, don’t get us wrong- We appreciate our real estate agent friends. But, more often than not- holding onto real estate is the smarter choice.
When the time comes you do need to sell your rental property please talk to your trusted real estate advisors. The team who has managed your home for years and knows you as a client. First, we start with the residents. Are they willing and able to buy the property they have called home? Giving this respect can go a long way in their cooperation later.
Next, Property Mangers usually have lists of investors looking to add more property to their portfolio. Allowing you to potentially use a transaction coordinator and save on agent fees. Also, giving your residents the opportunity to continue working with the property manager they already know.
Lastly, consider the property managers list of real estate agents who are used to and confident selling property with residents in place. This can get tricky and sometimes make or break deals. A overly pushy agent can alienate the resident and property manager who are allies you need to successfully sell your property.
We offer this advice not to deter you from selling, but to slow it down and encourage you to think it all the way through. Once you sell real estate in San Diego, it is very tough to get it back. So- we are here to help and look forward to discussing your real estate investment goals, long and short term.