Looking to sell a multifamily? Don’t want to deal with listing with a realtor? If yes, you might be wondering “can I sell my multifamily without a realtor”? We will answer that question in this article. Read on to find out if you can and how to sell your multifamily without a realtor.
Quick answer to the question “can I sell my multifamily without a realtor”
Yes. You can sell your multifamily property without a realtor. Here’s a secret…you can sell any type of real estate property you legally own without a realtor.
Options for selling a multifamily without a realtor
There are two main options for selling your apartment building yourself.
Sell it to a cash buyer
Your first option is the easiest method. It involves selling it for cash to a cash buyer.
This method involves the least amount of work on your part. It is also most likely the fastest way to sell your multifamily without a realtor unless you already have a buyer lined up.
This method is fast and easy, but there are some things to consider.
First, cash buyers typically offer a lower price than what you would receive on the market. However, you should consider what profit you will net on the sale vs just the asking price you get. You should also consider the convenience and speed of selling for cash.
Also, be aware of so-called cash buyers trying to get you to sign a contract only to wholesale the property. Ask them directly if they are buying the property or wholesaling it. There is a major difference, and it will affect the process and hassles involved.
Selling it for sale by owner
The other options is to do everything yourself. In other words, you can sell your multifamily yourself as a for-sale-by-owner (FSBO).
Is selling our multifamily yourself possible? Yes, but it will take a bit of work, project management skills, and knowledge. If you chose to sell your multifamily without a realtor as a FSBO you should be aware of some things upfront.
Selling any property FSBO involves a lot of work because you are doing everything. You have to do all of your own marketing, take the pictures, handle all the inquiries, coordinate showings with tenants and buyers, coordinate inspections, negotiate the offers, do the contracts, source, vet and coordinate with the title company or real estate lawyer, etc.
Selling a multifamily by yourself entails more work than selling a single family house yourself. This is because of scheduling showings and coordinating with tenants. The more tenants your multifamily has, the more complicated and filled with headaches the process can get.
So yes, its possible, but be prepared for the amount of work the for sale by owner strategy can entail.
If you’re interested in selling your multifamily without a realtor then we’d love to talk. Visit our we buy multifamily page to find out more and get a no-obligation cash offer.