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Updated almost 3 years ago,

User Stats

220
Posts
228
Votes
Lee Yoder
  • Rental Property Investor
  • Lebanon, OH
228
Votes |
220
Posts

Should I Sell My 45-unit Apartment Without a Broker?

Lee Yoder
  • Rental Property Investor
  • Lebanon, OH
Posted

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?

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