Maeve Becker, Multi-Family Property Sales and Acquisition (Keller Williams)

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Ambassador
3,162,655
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

I wish you and the seller all the best. 

Aug 10, 2019 10:43 AM
Rainer
67,209
Evelyn M Epperson
Coldwell Banker Residential Brokerage - Johns Creek, GA
A Tradition Of [Excellence, Trust & Service]

I have had many a pocket listing and understand there are some sellers just not ready to advertise to the general public.  I would also post on Craigslist, Zillow as coming soon and anywhere else you can think of.  Good Luck to you and I hope you sell it soon!

Aug 10, 2019 11:05 AM
Rainmaker
947,141
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

OK, so you do not have an exclusive?
OR, you do, seller just doesn't want it in MLS/listing portals?

 

 

Aug 10, 2019 10:53 AM
Rainmaker
4,270,182
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hmm...many questions.  Since you are not a Rainmaker it won't be seen by the public if you promote it via ActiveRain.  Is your goal to sell it yourself to investors in your database?   Why is it a pocket listing rather than one where it might get a wider audience?  Your question prompts more... 

Good luck.

Aug 10, 2019 10:49 AM
Rainmaker
1,767,996
Lyn Sims
Schaumburg, IL
Real Estate Agent Retired

Why do you think a pocket listing is benefiting your seller?

Aug 10, 2019 10:10 AM
Rainmaker
4,504,618
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

A seven day pocket listing for this kind of property is like no listing if you ask me, unless this is the kind of property that has buyers lining up to buy. Why would you take this as a pocket listing?

Aug 10, 2019 11:47 AM
Ambassador
4,569,713
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Call your investors and notify every agent in your area as well. If the seller doesn't want it listed, you have to get creative. Since most sales are through agents/brokers, that's the best way to get in front of the consumer and get it sold. 

Good luck!

Aug 10, 2019 11:06 AM
Rainer
4,050
Maeve Becker
Keller Williams - Inglewood, CA
Multi-Family Property Sales and Acquisition

Initially, I had the buyer. They loved the property, but couldn't get the financing together in time, as they are in the middle of a portfolio refinance at the moment. Now I just trying to see if I can do anything else with it.

 

Aug 10, 2019 11:58 AM
Rainmaker
1,231,605
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Best of luck, Maeve Becker 

See Barbara Todaro advice.

Aug 10, 2019 11:58 AM
Rainmaker
2,165,720
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Best of luck to you.

Aug 10, 2019 11:23 AM
Rainmaker
5,580,934
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

that's commercial real estate.... pocket listing???? why???

submit it to MLS or even better, refer it to a commercial broker.... 

if I had that listing, it would go into MLS and would have checked the zoning bylaws for condo conversion in the town.... and I'd call every builder in the area.... plus I'd want the condos to sell...

 

Aug 10, 2019 11:12 AM
Rainer
251,957
Byron K . Jones
Coatesville, PA
List Today - Sold Tomorrow!

Good Luck...

Aug 10, 2019 11:32 AM
Ambassador
4,747,333
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Best of luck. Looks like some good advice, and questions, here. Wish I had some connections up in that area for you.

Aug 10, 2019 12:55 PM
Ambassador
2,789,575
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate Brokered by Real - St. George, UT
St. George Utah Area Residential Sales Agent

Join every real estate investor group on Facebook that you can - like-minded people will respond! Contact other apartment building owners in the area. Good luck to you. Another piece of advice...put a photo in place of the blue head here. 

Aug 10, 2019 12:32 PM
Rainmaker
7,051,505
Roy Kelley
Retired - Gaithersburg, MD

Good luck. I would not have accepted this seven day listing without a buyer in hand.

Aug 10, 2019 11:40 AM
Ambassador
5,763,139
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Start with those in your database then continue beyond, get referrals from them then keep finding more investors.

Aug 10, 2019 07:59 PM
Rainmaker
2,086,246
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

Maybe if you know some "Wanna-Be" investors you could get them together with a couple of others and start a brand new buying group. If it works out Maeve Becker you would have a nice new group to work with.

Aug 10, 2019 07:01 PM
Rainmaker
985,102
Peter Mohylsky
PMI. Destin - Miramar Beach, FL

What is your definition of a pocket listing? 

Zillow does a make me move offer.  WORTHLESS.

Do you have a signed agreement regarding expectations esp. compensation?

This sounds like an exciting opportunity and to be be blunt.  Especially after several dozen years in the industry.  I am curious how it might evolve.  

Aug 10, 2019 03:20 PM
Rainmaker
5,768,126
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

I agree with Candice A. Donofrio 

Aug 10, 2019 02:44 PM
Rainmaker
1,028,297
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

I am not knowledgeable about commercial properties.

Good luck! I think you have quite a challenge on your hands.

Aug 10, 2019 02:39 PM
Rainmaker
4,579,468
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Call your commercial cash investors while continuing to pressure the seller for public disclosure and reasonable time to market the product. You could set an artifically low price for a quick offer.

Aug 10, 2019 12:57 PM
Rainmaker
2,692,684
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Income property is the name of the Real Estate game...Remodeled means long over-due maintenance. Furthermore why the seller is selling is relevant and lastly whats the ROI? Rents low or high? Neighborhood? I managed quite a bit of Inglewood properties in all areas. Some troublesome others gold mines. Know the product first and then marketing kinda follows

Aug 10, 2019 12:06 PM
Rainmaker
1,058,156
Doug Dawes
Keller Williams Realty Evolution - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Congratulations on the listing. Let you fellow agents know

Aug 11, 2019 12:49 PM
Rainmaker
2,054,999
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Property Managers are the best Buyer Pool . Their clients have cash jingling in their pockets !

Aug 11, 2019 07:09 AM
Rainmaker
4,362,186
Richard Weeks
Dallas, TX
REALTOR®, Broker

After reding all the answers and your responses, all I can say is good luck.

Aug 11, 2019 03:55 AM
Rainmaker
1,431,721
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Look into "The PLS" (ThePLS.com) it's an MLS strictly for pocket listings.  Created by a local Los Angeles agent (believe he works for "The Agency RE").  It's not your traditional MLS and they have a commercial section.  Free to sign up and post too!

 

If it's close to the new stadium, that'll be a bonus.  Yeah, crap timing.  Rent control sucks.  I sure hope the statewide initiative falls flat on it's face.  Rent control benefits no one, except politicians, and will only hurt the affordability issue as landlords either take properties off the rental market and sell them or cut back on repairs and maintenance due to shrinking profit margins.

 

Same goes for this section 8 stuff they're trying to do now too.

Aug 10, 2019 10:05 PM
Rainmaker
1,185,039
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Give me the flyer or link. I have an investor who sold his MF wanting a 1031 exchange <2.5M.

Aug 11, 2019 07:53 AM
Rainmaker
1,673,115
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West - Carlsbad, CA
Presence, Persistence & Perseverance

Loopnet

Aug 11, 2019 06:35 AM
Rainmaker
1,361,634
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Seller wanted it off MLS? Why?

 

Aug 10, 2019 09:22 PM
Rainmaker
710,199
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

Make sure you follow the rules your MLS lays out for you. Round these parts the MLS & most Agents go rabid when they hear someone has a pocket listing. 

Aug 13, 2019 01:33 PM
Rainmaker
909,346
Mel Ahrens, MBA, Kelly Right Real Estate
Kelly Right Real Estate - Hood River, OR
Customized Choices for your Real Estate Needs

The Pocket Listing Service, www.thepls.com.

Members-only group to share pocket listing info. Free to join.

Lots of SoCal listings. Over 1,100 in LA County alone.

Aug 12, 2019 09:25 AM
Rainmaker
3,386,568
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I get calls every now and then, a seller that says i dont want to list openly, but if you can find a buyer, come show them. Forst i aways try to get them to switch to a full service listing and tell them why. But i have a couple of investors who just dont want mls/ In those cse sthey sign the contract and i go to calling my list and have sold every one. 

Aug 11, 2019 03:30 PM
Rainmaker
2,066,224
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL

Maeve, wishing you luck and keep us posted.

Aug 15, 2019 02:07 PM
Rainmaker
1,598,130
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

Best of luck and keep us posted.

Aug 14, 2019 05:52 PM
Rainer
2,625
Andrew Warner
NAI Horizon - Phoenix, AZ
Mobile Home & RV Park Investments

I do almost exclusively off-market deal and pocket listings for mobile home parks and RV parks (similar to apartments). 95% of the time my listings are not on the MLS, loopnet or widely distributed. I already know all the buyers, which ones retrade, which ones are in an exchange and which ones follow through for my market. This is typical in alot of investment Real estate especially in my niche (MHPs). I recommend finding property owners in the area that own similar properties and calling them direct. So in your case I would research all the apartment owners in the area and call them. Give a breif description of the property without revealing it. Example "This may not be for you but ---> I have a 6 unit A/B/C apartment complex with ___ utilities and ___ rent per mont and aprox ___ net income, is that something you'd be interested in". You should also give them the negatives up front so you don't waste any time.  If they still want it (You will find in the current market the majority are interested it just depends on if it's priced right).  Make sure you have the P&Ls, rent rolls and property info ready to send to the potential buyer. Depending on the principals needs I would have them sign a NDA agreement before. 

Sep 08, 2019 08:33 PM
Rainmaker
781,424
Jill Sackler
Charles Rutenberg Realty Inc. 516-575-7500 - Long Beach, NY
LI South Shore Real Estate - Broker Associate

I always learn so much on this site. AR is the best! Pls.com sounds worthwhile. I hope by now there's been a happy ending to your listing dilemma.

Sep 08, 2019 12:15 PM
Rainmaker
5,337,534
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I cannot think of anything else.

Aug 29, 2019 03:41 PM