If you’re selling a duplex – whether it’s because you want to move on to bigger investments, you no longer want to manage a rental property, or something else – there are a few things you can do to help your Silicon Valley REALTOR® sell the home faster. Check out these three tips to help you sell your duplex fast (and for the best possible profit).
3 Tips to Help You Sell Your Duplex Fast
First things first: You should only work with an experienced REALTOR who understands how to market and sell multifamily properties. Though many agents are qualified to sell duplexes, triplexes and fourplexes, the bottom line is that the buyers for multifamily homes are looking for different things than people who want to buy a single-family home are. That means your agent needs to be familiar with the market, prospective buyers’ needs and wants, and the ins and outs of multifamily properties.
With that said, check out these three tips to help you sell your duplex fast:
- Set the stage for a great first impression
- Price the house properly
- Provide income information to prospective buyers
Here’s a closer look at each.
Related: The property-selling checklist
Tip #1 to Help You Sell Your Duplex Fast: Set the Stage for a Great First Impression
You need to make a great first impression on investors who visit your duplex. Ideally, they’ll see that it’s clean, well-maintained and worth buying (read: it’ll bring them a profit).
Start with curb appeal. Make sure the lawn is maintained, the sidewalk is clear and free from debris or stained, and that the mailbox, house numbers and trim are all in good shape. Then, make sure both units inside are clean and ready to show.
If you have tenants in residence, talk to your REALTOR about how to proceed. If the units are empty, you may even consider staging one or both of them to show prospective buyers how much potential the space has.
Tip #2 to Help You Sell Your Duplex Fast: Price the House Properly
Pricing is incredibly important. If you price your duplex too high, it’s not going to sell – investors who have that amount of money are going to compare your property to others in the same price range, and yours is going to come up short. If you price it too low, you’re leaving money on the table.
Pricing a multifamily property is an art, and it’s an art that your REALTOR is well-versed in. Your REALTOR will evaluate the property and compare it to others – including those that have recently sold, those that were on the market but never sold, and those that are currently on the market. The bottom line is that your investment property is only worth what someone else is willing to pay for it, and your agent can help you find that exact dollar figure.
Tip #3 to Help You Sell Your Duplex Fast: Provide Income Information to Prospective Buyers
When investors visit your property, they’re not just looking at its appearance – though that’s very important, too. That means it doesn’t hurt to share income information with prospective buyers. You can tell people who are interested in buying your duplex how much the average rent is in the area, how much you regularly charge, and provide information on property taxes so that they can make a sound financial decision.
Are You Buying or Selling a Duplex, Triplex or Fourplex in Silicon Valley?
If you’re selling a duplex, triplex or fourplex in Campbell, Cambrian Park, Los Gatos, San Jose, Santa Clara, Saratoga, Willow Glen or another community in Silicon Valley, we’re here to help. Call today or fill out the form below to find out about our innovative marketing plans that can put your investment property in front of all the right buyers.
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