Cincinnati Real Estate Agent For Home Sellers
When you’re selling a property you need a real estate agent that understands both ends of the transaction. This can aid in getting the highest possible price for your property. Mary Beth Downing is a Cincinnati agent who has extensive experience in working with residential and investment sellers as well as buyers. She will use this experience to provide guidance in preparing your property, in suggesting which repairs to make, choosing the proper price point, and finding a buyer as quickly as possible. It is our goal to sell your home quickly and for the highest possible price. Contact us today to get started.
Selling a Cincinnati Residential Property
Selling your home is a major undertaking. There are a number of steps to take in the process that will increase your chances of success and a quick sale. From determining the best time to list to deciding which repairs to make, Mary Beth will work to ensure that you are proceeding in a way that gets you the highest possible value for your property.
Mary Beth Downing has extensive experience in working with residential sellers. She will give you an honest assessment as to what work you should perform before listing the property, what she believes the proper price point to be, and what her assessment on the current state of the market. As an investor herself, Mary Beth will have more insight into what potential buyers are looking for–both residential buyers and investment buyers– in terms of location, home features, value, etc. Contact us today to get started.
Selling an Investment Property
Selling a Single-Family Investment Property
There are a few ways to determine if it’s time to sell your single-family investment property. Sometimes this boils down to personal decisions, such as retiring from being a property manager or landlord, but it can also be financially rewarding to sell a single-family investment home. At times when it’s a prime market to sell such a home, you can use that sale to invest in more or different types of properties and diversify your property management portfolio.
It may be time to consider selling when ownership costs are rising faster than rental rates. It may also be time to sell when your property meets all the current trends or demands in the market or is in a prime location for those looking to buy or invest. Also, it’s important to consider the ongoing investment in your property versus its value in the market. For example, if there are major home components reaching their end of life, and you know they will need to be replaced within a certain time frame, it may not be worth it to upgrade the property if the rental prices will not keep pace with the investment. All these considerations and more are the types of things that Mary Beth will consider to help ensure that you’re making the best decision in terms of your property investments and sales.
Selling a Cincinnati Area Apartment Building or Other Multifamily Investment Property
If you’re selling your apartment building or other multifamily property (such as a duplex), the process will look different than it would when selling a single family home. While the investment market is bustling in Cincinnati, there are other sellers out there just like you, so being prepared before a sale is important.
The first step in selling a multi family residence is to ensure that you have all of the information which potential buyers will request. This information will include a breakdown of rental earnings (your profit and loss), tax records, records of repairs, copies of all current leases, and more. Selling an apartment building or duplex also comes with added complexity in that you will need to coordinate with the tenants for showings. We will help you understand what records you need to have available and we are experienced in selling occupied properties.
Targeting the right buyer will also be key in selling a multifamily property. The location, age of the property, and the features within the property will tell a lot about who may be your ideal buyer. Some buyers, especially new investors, often look for something that is “turnkey” while others may be more willing to do work and invest additional funds into repairs. As someone who has experience in selling multifamily properties, Mary Beth will help you to promote the listing in a way that targets those most likely to be interested in the property.
Mary Beth and our team are looking forward to working with you. We will quickly look at comparable home prices, will give you an honest assessment of your property, and will work to sell it as quickly as possible. Contact us today.
Frequently Asked Questions for Cincinnati Home Sellers
Below are frequently asked questions that I receive in regards to selling Cincinnati real estate. Click on a question to be taken to the answer.
What do I do if I want to sell my house?
When you’re ready to sell your house–whether you plan to market your property as an investment, or as a turnkey home–you will want to start with the same step. You will want to select the right agent. Agents give you access to expertise and experience in the market, insight into current trends and are able to help you sell your home quicker and at a better price.
When you partner with Mary Beth, she will evaluate the house in terms of location, features, square footage, lot size and more and determine the current fair market price by looking at comparables in the area.
The next step is to review the property for any potential repairs that could add value. The trick is to choose repairs that will add the most value for the least amount of repair cost. You may not want to replace the roof if that investment isn’t going to benefit your bottom line. But it’s amazing how far things like a fresh coat of paint, spruced up landscaping, or new light fixtures can go.
Another aspect of home sales that many sellers may overlook is to have a plan for yourself. It’s important to strategize your next move if you are currently occupying the space. Where will you move or stay after closing? Make sure you define a timeline that works for you and for potential buyers. Mary Beth can help you find a new home simultaneously or give you advice on finding a rental to move into once you close.
Do I need to fix up my house before selling it?
Whether you should conduct repairs for the purpose of selling your home depends on a number of factors. First, you want to determine if you have the funds to make repairs and how much you are willing to invest into the property. Beyond that, you will need help in determining the types and amount of repairs that make the renovation worthwhile in terms of sales price. There are renovations which can be minimal in cost, but create more value for a seller. There may also be high-investment repairs that aren’t worth it in terms of turning a profit during a sale.
It’s also important to consider any repairs that will make or break an inspection. It will facilitate the sale if you remedy any issues which would be raised on an inspection, before you list the property. If you do not remedy such issues, then it is important that they be disclosed in your property listing or else buyers will be caught off guard. This would often lead buyers to requesting a price adjustment or, worse, pulling out of the deal altogether.
Mary Beth will work with you and contractors to determine which issues need to be dealt with immediately, and any that need to be disclosed, so you can sell your home as quickly as possible.
Beyond required repairs, easy cosmetic upgrades can go a long way. Items such as new paint, carpet, landscaping or other “curb appeal” upgrades can cause your listing to stand out among other sellers’ listings.
Should I hire a realtor or sell my house directly (for sale by owner)?
Selling your house directly (for sale by owner) may be tempting because you will be able to forego the commission that you would normally pay to an agent. However, it’s important to weigh the options. It’s not required to hire an agent to sell your home in Ohio, but it may be in your best interest to do so.
Agents have a better insight and handle on the current local market trends. An experienced realtor will consider the best way in which to sell your property based on the locale. The location and the market trends in that area help to set the asking price, which is a crucial factor in a successful home sale. If you price the property too high, you risk your house sitting on the market for a long period of time, and if you price the property too low, you risk losing out on profit.
Hiring an agent also helps the facilitation of the home sale. By listing with an agent, you are able to increase the number of showings and, therefore, the likelihood of a sale. An agent also has a network of other clients and potential buyers that may meet the profile for someone who would be interested in your property. Mary Beth Downing, for example, works with a number of investors who are actively putting money into our area. Finally, agents have experience in dealing with paperwork and the various stages of selling a home, compared to attempting to go through the process on your own.
Most importantly, you are selling your home to turn a profit. It has been found that sellers who list with an agent tend to sell their homes quicker and for a higher price than the average house sold by owners. This includes the agent fees.
Mary Beth will work to make your home sale smoother, quicker and more successful.
How do I find an agent to sell my Cincinnati multifamily property?
When searching for an agent, you want to select someone who has a number of qualities, including:
- Experience in selling multifamily listings
- Experience in selling occupied units
- Local market knowledge
- A network of potential buyers
- Knowledge of the rental market in the area
- Hands-on experience with investment in multifamily properties
Mary Beth Downing is an investor herself in addition to being a licensed real estate agent. She makes working with other investors the focus of her business. Connect with her to get started on the process of listing your Cincinnati area multifamily property for sale.
Can I sell my investment property while there are renters in it?
Selling a multifamily property while tenants are still living there is definitely possible, but there are a few tactics that will make this process easier for everyone. First, you want to focus on trying to make the process as painless for the tenants as possible. This will create a situation in which the tenants will be more open and cooperative for showings and other inconveniences. Tenants will be working with you to let people in for showings, inspections and appraisals, so being sure to show appreciation for that will make the process much smoother.
The other way in which you can increase your success in selling a multifamily property that has existing tenants is to use that to your advantage. It gives you the opportunity to show a history of tenant’s rent payments, which is a good way in which to document the profitability of the property. Having all these financials documented allows you to show proof of value for any potential buyers.
What information do I need to make available when selling a Cincinnati area investment property?
Selling an investment property is different than selling a residential property. There are financial records and additional documentation which buyers will regularly request. You will need your records in order to ensure that your selling process is as smooth as possible. You will want to have copies of leases, rent rolls, profit and loss statements, and any information related to regular building expenses.
A rent roll is a document that reflects all of the current tenants in a building and the amount of rent they are paying. Investors will want to see this information in order to verify the potential cash flow of the property. Regular building expenses include anything that is a regular upkeep and maintenance to a property that would cut into potential profit.
Are Cincinnati multifamily properties hard to sell?
Many consider Cincinnati and southwest Ohio a prime location for those who are looking for investment properties, including multifamily units and apartment buildings. There is currently a shortage of rental options in the area, so investment properties are in high demand for purchase. In addition, it can be easier to find cash flow positive properties in the Midwest than in some coastal areas.
This environment can lead to properties in the Cincinnati area having a good cap rate, meaning the net operating income is higher than the purchase price. Where there is a high demand to purchase investment properties, there is a great environment to sell them, as well.