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Selling a Tenant-Occupied Property can be a Balancing Act!

Selling a Tenant-Occupied Property can be a Balancing Act!

 

In a perfect world, before you set about selling your property you would have emptied it of all evidence of human habitation, called in the best staging pros on the planet, and set off to vacation in a Caribbean island spa-hotel so you could sift through the dozens of offers in comfort.

"Let's see," you would soon be musing to no one in particular, sipping your first mimosa of the afternoon as you thumbed through the sheaf of emails, texts or faxes from your Century 21 Advance Realty agent from Medford; "should I accept this all-cash offer for 150% of comparable value--or hold out for this one for 200% of comp that came in with only 50% earnest money...?"

It is here where we might best depart from this reverie to point out that in this less than perfect world--the one that we actually live in--the more probable situation is one where your Medford or Malden property is fully occupied, either by your own family or a tenant.

How do you make the most of that mimosa-less situation? If you and your family are the occupants, your property fits the most common profile, so the standard to-do's apply: you will want to clear the clutter and store any non-essential furnishings; de-personalize as much as practical; deep clean; and work with your agent to make showings as routine as possible.  Obviously you would want to make your property as available as possible for showings; but if there are certain days or times that do not work, let your agent know.

But what if you have a tenant? It's going to be a true balancing act that affects four parties: seller, listing agent, tenant, and buyer. Of these, the one with the least to gain is the tenant, who is paying for the privilege of tenancy while being asked to keep the property clean and showable on the others' schedules.

Let's face it: this could be a minefield. Almost any tenant's interests lie elsewhere. In fact, they may very well like your property so much they would just as soon discourage prospective buyers--and there are subtle (and less-subtle) ways to go about that!

Sometimes you and your Century 21 Advance Realty agent will have to be creative.   It always makes sense to cooperate with your tenants.     That is where the advice of your agent will come in handy.    Our agents have years of experience dealing with tenants, cooperative and non-cooperative alike.   

In any case, the best results for selling your property happen when there is rock-solid communication between the listing agent and owner--and when a tenant is involved, that's another party who should be included as well. It's the best way to insure that everyone can go about their business with a minimum of disruption and inconvenience.

If you are sizing up the coming fall market, whether your home is occupied by a tenant or your own tribe, I hope you will give us a call at (781) 395-2121 or email us at agent@c21advance.com to discuss how we can get the results you're after!

CENTURY 21 Advance Realty, located at 284 Salem St., Medford, MA has been in the business of Seller and Buyer representation since 1981.     We have represented thousands of homeowners in the marketing of their homes and tenant occupied properties in Medford, Malden, Everett, Somerville and surrounding communities.     

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