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Updated almost 3 years ago,
Should I Sell My 45-unit Apartment Without a Broker?
I'm considering selling my 45-unit apartment portfolio in Dayton, OH (29-unit, 8-unit, 8-unit all within 3 miles of each other). The property is completely turn-key and we're going to sell it at a true 7-cap. In this crazy buyer's market, apartments sell so easily. So, I'm wondering if I should just sell this apartment portfolio on my own instead of losing 3-6% to a brokerage. I've listed through an online brokerage before and only had to pay $300. Heck, my partner is actually still a realtor, so I guess he could sell it.
Has anyone gone this route and had success?
I know brokers will say that they can sell for a higher price, but in this market, I'm not so sure that's the case. I do believe that brokers control nearly all of the deals in this market, so selling with a brokerage could help to increase my relationship with them which could potentially yield a deal in the future. For this reason, maybe selling without a brokerage is a mistake in the long-run.
What are your thoughts?