All Forum Posts by: Tyler Psenicska

@Jonathan Greene Thanks Jon this is helpful perspective - I agree with what you're saying and it has helped me make a decision

@Darren Sager how would this work in practice? I refer myself as a seller lead to said realtor, and tell them I'll do basically all of the work other than listing it on MLS? How would you suggest dividing the labor to give us each a good deal

Hi everyone, I am a commercial real estate agent in New Jersey, however, I own a rental property in Delaware that I'm looking to sell in the near future, so not too far but not close enough where selling it myself would be convenient.

Here's context.

I own a rental about 2 hours away. It has appreciated big time due to current market, so selling it right now is the right move for me financially. I am not looking to do a 1031 unless something falls into my lap in the next month or two and am going to eat the taxes. 

Properties in my rental's market are selling within 24 hours, it's that hot. Assuming it stays this way for the next couple of months, this makes me think I would be able to sell it myself without too much of a headache. My plan would be to list it online for a week, plan all showings for the weekend, and then have a final decision made by Monday-ish. This is to minimize the amount of time i need to be down there, and minimize showings with tenants still there (don't worry about these details I have it figured out with them).

On the other hand, I already have a friend in this market who could sell it if I choose to go that route instead. He is a high performer and I know would do a good job.

When doing the math though, it will cost me over $14K to hire him at 5.5% commission, and, in addition to taxes, it adds up to be quite a lot. I'm not worried about negotiating .5% to 1% off the commission, I'm moreso thinking about the entire lump sum of about $14K (basically taking my profits from about 60K to 75K after taxes, which I find to be considerable bump).

Finally, even though I am commercial I have experience with residential, helping buyers and the occasional listing that is worth doing for one reason or another. So i wouldn't be going into this blind. I understand I wouldn't have access to the MLS but in this market and would be basically using Zillow or other sites to sell FSBO.

My questions are... is it worth selling it on my own? 

Will working with a realtor and getting access to MLS drive my price higher? Will I avoid headaches by letting someone else handle it? Or, since this market is so hot, does it make sense to do it myself because I will have a bunch of offers anyways, assuming it all stays the same? Does it open me to liability?

What am I not thinking of? 

@Charlie Cremona To the other person’s comment— i know a few officers at loan depot that can help. Send me a message and i can make an introduction

@Kyle Webster Hey Kyle your post triggered an alert for me because you mentioned NJ. That’s where I’m based. Are you looking to grow your network / portfolio in Nj too?

Hey Patrick. What's the context for looking for you finding an architect?  I work with local investors and could probably get a recommendation for you

@Carlos Kishek - I am interested in learning about the group! I am in northern NJ and a commercial agent.

Hey everyone...

I'm a commercial real estate agent that's a part of a referral networking group in Jersey City, NJ. I personally represent all commercial real estate and am looking to grow the group with more real estate contacts (Note: There is only one member in the group per profession, and we already have a real estate agent joining the group). I've only been in the group a few weeks and have already seen a return on my investment.

Rather than just Googling and calling people, I figured the folks here may have people they have worked with that are trustworthy and looking to grow.

Specifically I'm looking for local contractors, electricians, plumbers, roofers, investors, interior decorators, printing businesses, restaurant owners, graphic designers, or digital marketers.

Does anyone know anybody local and solid that falls under one of these categories?

I may have missed some real estate related professions so feel free to ask if you don't fall under one of these categories.

Let me know what you think. I was surprised how quickly I benefitted from a group like this and would love to include you. We meet once a week on Thursday mornings to try to help grow each other’s business by passing out leads and referrals, and if you're interested let's connect and I'll forward the invite.