Tacoma is experiencing historically low inventory. This is good news for sellers, as properties are selling quickly and often with multiple offers. If you have a rental in Tacoma and live out of the area or out of state, it would be GREAT if you could sell it to someone who wants to live in the community. We need your house!
In this video, MoveToTacoma.com creator Marguerite talks with friend, seller’s agent, and Investor Specialist Regina. Regina specializes in helping sellers out of state prepare their homes for sale, and she truly has a gift for doing this. Selling investment properties is a special skill set, and here are Regina’s smart tips for selling your Tacoma rental when you don’t live in Tacoma:
Some out of area investors think they can just decide to sell their rental property one day, make a call, sell their property in 30 days, and be done with it. And Regina shares that yes, there are some agents who will rush out to your property, take a few unattractive phone pics of it, and list it ASAP.
This happens most often because people are worried about time. However, if you try to sell your Tacoma rental property like this, you are leaving money on the table.
When Regina is listing an investment property, she will first do a walk-through of the property to see what needs to get done. Regina will evaluate the cost of what needs to get done vs. how much more money they can get on the market if certain updates or repairs are made. For example, if you have everything painted, how much more money will you be able to get for your property? Regina will make recommendations, but ultimately it is up to the seller to decide what to do.
And if the seller agrees, as soon as tenants move out, it’s game time. Regina schedules cleaning, gets work orders taken care of, has the home staged, and within a couple of days you can be on the market. Thanks to her years of experience doing this, Regina has an extensive network of people like maintenance professionals, stagers, cleaners, carpet stretchers, painters, and anyone who might be necessary to getting your property in tip-top shape. Regina and her team are doing the groundwork, while the seller is making the decisions from afar.
Taking a few extra days for prepwork can make a HUGE difference when it comes to how much money you’re going to make. This can mean the difference between receiving one offer vs. multiple offers, and selling for list price vs. above list price. It’s about putting the seller in a position of power!
And once an offer is accepted, the seller can sign documents from afar and just collect their check when all is said and done.
Also, it’s important to note that during Covid-19 there are a number of additional laws and protections for tenants that make selling a rental even more complex. Now more than ever, hiring an expert that will help you navigate the process while preserving tenants rights and keeping you on the right side of the law is essential.
If you’re interested in selling a house from far away and would like to find an awesome seller’s agent in the neighborhood your house in is, contact Marguerite.