Page 261 - Trump University Commercial Real Estate 101

The Right W a y to Sell for Maximum Profit

When you sell your deal through the up - and - comers , you ’ re even
more quickly recognized as a player, and will instantly become a VIP.
They are hungry, and you just provided them with lots of meals. You
can expect a nice favor in return, in the form of a sweet deal that they
come across.
Perhaps you are selling your one property in a market you have no
intention of staying in. In that case, you can also consider offering
your deal through one of the big national fi rms.

These outfits do have major databases of potential buyers and a lot
of marketing clout. Then again, the local brokers know most of the
local investors.

You ’ ll just have to interview a few and find out what their strengths
and weaknesses are. The first objective is to establish what price they

think they can get for the property. Compare that with the price you
determined earlier, based on your NOI target and known cap rates for
deals like yours.
You know what your aggressive price is and also your conservative
price. Be wary of the broker who tells you he can get a price above
your aggressive price. Some people are just big talkers. They give you

inflated prices, get you excited, and then ask for a price reduction after
the listing doesn ’ t sell, blaming it on the market.
Find a broker who comes in at the same range you did. He may
even say that you could sell for a higher price, but that it will depend
on the right buyer coming along at the right time. That ’ s a realistic
statement and a good sign.
Conversely, beware of the broker who tries to undercut your deal.
He comes in at the lower end of your range and tries to sell you on
listing it and pricing at that lower point. This person is looking for
a quick commission. He knows he will not have many expenses
associated with your listing because it will sell quickly. He ’ s doing you
no favors.
If you ’ re in the position of having two or three brokers who pass

your test and are finalists, pick the beauty queen based on the best
marketing campaign. Make an appointment with each broker and ask

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