How to Sell a Tenant-Occupied Listing - Kevin Ward
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- เผยแพร่เมื่อ 28 มิ.ย. 2017
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Kevin Ward is a real estate coach, speaker, and trainer at YESMasters.com and #1 Bestselling author of "The Book of YES: The Ultimate Real Estate Agent Conversation Guide."
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The first and most important question is always the seller’s motivation. If they are definitely selling, then you can list it and sell it.
The challenge is that it is occupied by a tenant, so now the tenant’s motivation becomes the next issue. Often a tenant does not want to move, and since they don’t benefit from the house showing or selling, it can be difficult to get their cooperation.
The solution is #1) to treat the tenant with respect and let them know that you will be cooperative with them in showing the house, so they will be cooperative with you in showing it. #2) Encourage the seller to give the tenant a financial incentive to keep the property clean and to cooperate with showings. This incentive should be paid when the tenant moves out (after they have cooperated, rather than before).
And don’t forget to find out if the tenant is interested in buying the property, which makes everyone happy!
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Awesome!! Thank you!
wow, thank you for the information
Thank you for this. I love you first option. We may have to use it. But as of right now the tenant are considering buying. We are hopping for that option. Thank you for this
How do you handle a dual agency situation when asking the tenants have they considered buying the home?
Just read your book The Book of Yes on Amazon Kindle (I know I'm late) but was wondering if you could send me the scripts so I can print them and study them? Thanks in advance
This is all common sense. I'm surprised how many landlords don't incentivize the sale, and they end up being frustrated. You must SPEND MONEY TO MAKE MONEY. Golden rule of business.
Wouldn't the owner who is selling with tenants in place be working on the basis that tenants want to remain under the new landlord?
Sorry, did you say tenants would only be given 1 hour notice to ensure property is totally clean and tidy? 24 hours is the usual 'reasonable notice' tenants would expect and give them enough time. 48 hours should be possible and certainly if the tenants aren't willing to be compliant with the sale as they don't want it to happen!
It is very frustraring showing tenant occupied homes, I showed my clients a tenant occupied home, the tenants removed all of the light bulbs from the fixtures so we couldn't really get a good look at the inside of the home. We all had to walk through with our cell phones lights on, and on top of that they arrived back home early, did not respect the time frame we reserved so we were rushed. It sucks because even so the tenant by law should be given at least 30 day notice to vacate so now the new home owners have to be landlords to a tenant that is pissed off because they have to move, now that is asking for a disaster.
I'd rather get rid of the tenant before selling the house than being dependent on the tenant and offering them a rebate.