3 Ways to Get More Money When You Sell
Sellers, if you’re thinking about selling soon, here are 3 ways to get more money when you actually do sell your multifamily or commercial property:
Landscaping
Clean up the yard and the parking lot, water the grass, put down some mulch in the flower beds… you know, make it look cute! Obviously, this isn’t a residential house, but giving any property a little extra curb appeal is a positive, and can impact buyers, tenants, and customers if it’s a retail or an office building.
Professional Photos
If you talk to any listing agents who say that they’re just going to take some photos themselves and plop it on the MLS… “Thank you, next!” You want top dollar for this property. Why would you not hire an agent who’s going to make sure it shows as best possible, and is willing to put their money on the line to make sure you get as high a price as possible. Bottom line, make sure your listing agent hires a professional photographer.
Fresh Paint
This breaks my heart a little bit! I’m in Memphis, so I deal with a lot of brick buildings that were constructed in the 1960s. Buyers like a fresh coat of paint, and lenders love a fresh coat of paint. I personally love natural brick, I think it looks nice. But I’ve yet to have a lender that gives a buyer a hard time when the brick is freshly painted. They usually instead say “Oh my gosh, Jess, this is such a great property. The rehab is so nice. They even painted the brick!” So, we paint the brick.
Side note: You don’t have to do it when you sell, you can do that when you refinance. Fun fact!