If you hire a broker, skip this step, but if you decide to market and sell the property yourself, keep reading.
Now that you’ve prepared your asset for selling, the following four steps will help market and actually sell the property! Here’s four steps for marketing and selling real estate.
Step One: Get it listed.
List your property on Loopnet.com, which is very popular site. While there’s a nominal fee for listing it here, the cost is well worth it! (As a side note, Loopnet does not market on the Multiple Listing Service (MLS), the nation-wide marketing medium for brokers of residential real estate like single-family housing.)
Step Two: Capture great images.
Always have professional photos taken of the property. Cell phone pictures are not going to help sell the asset, so fork out a little cash to get top notch images.
Step Three: Make a quality video.
Making a video complements photo images, and it’s becoming very common in today’s marketplace. These videos can be relatively inexpensive in my experience—around $150-200—and it’s well worth the cost. If someone is viewing your listing from across the country, you want all the images necessary to pique their interest.
Step Four: Showcase key benefits.
In real estate, you always want to show potential buyers the added benefits of buying this asset. This means you need to showcase them! For example, if it's a brand new apartment complex that's going to be full and brainless to operate, you'll showcase how it's a consistent revenue generator for them.
For example, I buy a rough mobile home park, build it up, and increase rent. Then I showcase how much the property has been improved and how the market is increasing rent in the area by a certain percentage each year. By doing this, I show the new owner that there’s a way to increase the value of the asset.
Side note: Don’t take cash! Collect income in a way that allows you to have a paper trail. Do everything you can to verify income. If you can't do this, you'll have to give it away, because it's the owner's best guess without that.
Those four steps are for those who want to market on their own. But what if you want to outsource the marketing and selling of your asset? Hire a broker.