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Should You Attend the Sale of Investment Property?

April 24, 2012

It is normal for buyers and sellers to get together to evaluate the condition of an investment property and other details. Before a property can change hands successfully, many things including the actual selling price must be determined. At some point during the decision to sell a property, you will be faced with the thought of should you attend the sale of investment property or not. There are many valid reasons to attend and many reasons that you should not attend. Apart from owning the property, there are certain instances when you could be better off to let a professional agency sell your home. At JacksonvilleWealthBuilders.com, we believe the actual meeting to negotiate the buying and selling is one of these instances. 

Why Not to Attend the Sale of Investment Property
The actual face-to-face meeting of a potential buyer and an agent is usually awkward. Buyers usually go into a meeting with preconceived ideas about price versus quality and agencies have a lot of pressure to close a sale. As an investment property owner, your pressence can make buyers and agents more uncomfortable at the property viewing. Much of the talk that can take place between a property owner and potential buyer can wait until after the sale is made. Investment property owners often go into sales mode and talk about things unrelated to the buyer at that point and time. It is quite common for property owners to deliver information that a buyer already knows. This includes the friendly neighborhood, local economy, school districts and the beautiful scenery. 
Buyers often ask questions that property owners might be offended by that are general business questions. The interior or exterior decor might not be well liked and a cost estimate of remodeling the place might be asked. This can easily offend any owner and could ensue an argument. This could drive away a potential buyer of a property. The selling price is another boiling point that can escalate emotions. Buyers often want to get the lowest price and investors that have put their life's work into the property can be easily offended at a lower than market value offer. 
When Should You Attend the Sale of Investment Property
Changing real estate agencies might be necessary when selling investment property regardless of location. Someone too close to a property because he or she is the owner might not understand the importance of an upgrade. Some property investors like to be hands on without interferring with negotiations or buyer viewings of properties. A friendly and upbeat attitude can go a long way to a buyer regardless of how long a property has been on the market or the selling price.

One of the important rules in business that successful property sellers use is that people respond to personalism. Making a buyer feel comfortable, not being offended by questions or offers and being more helpful instead of selling take experience to learn. In many cases, it is helpful to leave the entire selling process up to a professional agency when deciding should you attend the sale of investment property. You will avoid the types of mistakes made by many investment property owners.

By Gregg Cohen

I am a co-founder at JWB Real Estate Capital, and I love to talk about investing in rental properties! You’ll often find me here contributing to our blog and in our Facebook group connecting with the community & sharing insights.

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