Listings With Information Sell Better!

INVESTORS, are you annoyed when online multi-unit residential or mixed-use commercial listings don't have all the information you need to analyze a property? Very often when I'm searching for properties in Pittsburgh PA for clients, the GAI, Vacancy, GOI, NOI, Insurance, Utility Expense et al plus Rent information (or rental history) are left blank! In addition, there may be no pictures or just one picture showing the front and none of the inside. Some listings show remarks describing the property, others don't. Without basic information, how can you make a determination if you even want to actually see it in person? If I'm holding 50 listings in front of me, I'm probably going to pick those that have the information I need and trash the rest. But by doing so I could be missing out on a great deal. And Agents, you may be doing your Clients a disservice by not providing the property facts. Listings with complete information attract the most attention and sell better!

When it's time to list, other than sprucing up the property, the seller needs to collect income, rent roll and historical information, expense data and have the leases available to their chosen listing agent. All of those need to be provided prior to putting the property on the market. Without them a buyer can't determine if it would be a potentially good investment. Likewise, the remarks section of a listing is an opportunity to really show the fine points of the property. Remember, be clear and sell it! The proof is in the details!!

They say a picture is worth a thousand words, but you don't want that picture to say "hmmm", or "meh" or "no"--you want people to look at it, even if it's a mess and say, "you know I think I can fix that up and make something out of it". So showing just the outside of the house makes people wonder what's lurking behind. Even if it's rough looking inside, take good pictures as best you can and put them up. But please no sideways pictures, this isn't the bat cave! You may even want to take videos. At first you may think that bad flooring, dropped ceilings and loose molding may deter buyers, but these things are cosmetic and can be fixed. Even if your property currently holds tenants, I encourage you to ask them if you can take pictures of parts of their apartments for marketing purposes, always protecting their privacy. While your lease may allow you access to apartments with proper notice, many tenants balk at giving access. Properly prepping them for visitors will go a long way to a successful showing. When a buyer tours your property, they don't want to just see the outside and the common areas, they want to see the entire property!

When I'm talking about listing a property, I am referring to doing so on the local Multiple Listing Service (MLS). If you are going this route, Sellers, choose your Agent wisely. If they're not interested in or ignorant about gathering all of this information, that should be your first clue that maybe they are not a good fit for you. An agent who works in the investment world should understand what the terminology means and how to help their clients sell better and faster. They should also be able to help a buyer analyze properties to determine if they may be a good investment. But it all starts with the listing, so do it right the first time and show 'em the property facts. You will surely get it SOLD!