Hi All,
Curious if anyone here has ever used or asked for a non exclusive agreement (multiple agent) when selling a property? If so what are the pros and cons?
I'm selling one of my investments as I feel it has performed very well, but moving forward feel the opportunity cost of the capital over the medium term is probably best used elsewhere.
Anyway the property is currently tenanted on a fixed term lease at a good level so I was thinking of asking two of the top agents in the area to market quietly until the fixed lease is up. If I get a decent price I will sell, but if not I will put on a normal advertising campaign.
I'd prefer to sell off market as it avoids kicking the tenants out, 10 weeks vacancy (4 week auction campaign + standard settlement) and about $4K in marketing costs.
As I see it, the advantages of two agents is that they have separate databases and connections and basically are in competition with one another to get me a great price.
If an acceptable price isn't achieved then I'll simply give the listing to the agent who has delivered the best results, kick the tenants out and get the place dressed.
Look forward to hearing anyones experiences and recommendations.
Noodle
Curious if anyone here has ever used or asked for a non exclusive agreement (multiple agent) when selling a property? If so what are the pros and cons?
I'm selling one of my investments as I feel it has performed very well, but moving forward feel the opportunity cost of the capital over the medium term is probably best used elsewhere.
Anyway the property is currently tenanted on a fixed term lease at a good level so I was thinking of asking two of the top agents in the area to market quietly until the fixed lease is up. If I get a decent price I will sell, but if not I will put on a normal advertising campaign.
I'd prefer to sell off market as it avoids kicking the tenants out, 10 weeks vacancy (4 week auction campaign + standard settlement) and about $4K in marketing costs.
As I see it, the advantages of two agents is that they have separate databases and connections and basically are in competition with one another to get me a great price.
If an acceptable price isn't achieved then I'll simply give the listing to the agent who has delivered the best results, kick the tenants out and get the place dressed.
Look forward to hearing anyones experiences and recommendations.
Noodle