Testing the Market - Selling MF Apartment

[Mike Russ]

Hi Everyone - I have two vacancies coming up in a 4-unit building and I am contemplating testing the market to sell my building if we get a good offer.  We were planning to be buy and hold long-term investors but the short-term return (2 years) on a potential sale based on recent comps may cause us to pivot with our long-term strategy.  

I am seeking on advice on the best approach to market our property for sale without officially listing it.  I was planning to contact 2-3 local realtors and offer showings of the vacant units to investors they may have relations with and seeing where offers come in.  We may decide to hold if we don't get the price target we are seeking.  How should I negotiate commissions with realtors with this approach?  Also, is there a better approach to essentially test the market without a full blown listing.  

Thanks,

Mike