The Cantrell Company's Services For Selling Multi-family Properties
Please contact us today
12750 Merit Drive, Suite 400
Dallas, Texas 75251
(214) 368-4567 (main), (214) 368-2120 (fax)
to discuss in person our committment to providing the highest quality services for selling your multi-family property!
It is in the client’s best interest to work with a firm that offers a superior service that:
- Specializes in the sale of apartment properties. Principal agents have vast experience in the sale of apartment properties.
- Specializes in the representation of Sellers to increase probability of a successful transaction.
- Produces precise and thorough marketing packages that reflect the actual operation of the property, thus avoiding surprises and/or renegotiations that could jeopardize the transaction and take money out of the Seller’s pocket.
- Has complete, organized, and highly efficient research and information services and sources to access Buyers.
- Uses tight listing and purchase agreements that hold Buyers accountable for specific events on specific days.
- Effective network and cooperation with the top brokers that are active in the sale of apartment properties.
- Tight network with third party intermediaries (i.e. lenders, appraisers, title agents, etc.) to ensure a smooth transaction.
- Effectively uses advertising such as the Wall Street Journal to maximize exposure.
- Tailors marketing plan and strategy to each property.
- Coordinates the sale process thoroughly including:
- Gathering of due diligence documents at beginning of listing period.
- Strategize with owner regarding marketing plan upon execution of listing agreement.
- Timeline to create understanding of responsibilities and timing of specific marketing efforts.
- Coordinating on site inspections.
- Buyer due diligence.
- Contacting potential lending sources.
- Coordinating title, survey, appraisal, environmental.
The Cantrell Company follows a systematic strategy to ensure the sale of the property. Attention is given to every step to maximize market exposure and achieve the highest possible sales price for the Seller. To implement the systematic strategy in the context of the Seller’s needs, the Broker meets with the Seller to thoroughly understand the Seller’s motivation and goals. In the process the Broker establishes an open, direct, and responsive line of communication with a point-of-contact who can expedite the flow of information.
Following the execution of an Exclusive Listing Agreement, the Broker proceeds with the following marketing strategy:
Several means are used to gather information about the property and the market in order to formulate the basis for a comprehensive marketing sales package.
- On-site property inspections are conducted to become fully knowledgeable about the properties’ physical attributes, including the pluses and minuses and to develop a profile of the potential buyer.
- Market research of the immediate area is analyzed to develop rent and sales comparables.
- Economic projections are developed based on research information to verify that the value of the property is supportable in the marketplace.
A promotional marketing brochure is prepared containing all the pertinent information needed by the buyer to analyze the merits of the investment. The brochure describes in detail the properties’ price and terms of sale, location, current economic conditions, economic projections, physical condition, rent comparables to support economic projections, and sales comparables to support market value. Simultaneously, an Executive Summary is prepared providing a brief synopsis of the marketing package. The Executive Summary is used to generate interest in the property through selected mailings and is also sent in response to initial inquiries.
- Concurrent with the preparation of the marketing brochure, research will be conducted to identify and locate specific buyer prospects. Prospects would include, but not be limited to:
- Owners of similar income property within a defined geographic area of the subject property.
- Investors in the D/FW area who have purchased similar product types within the last twenty-four months.
- Other out-of-state investors that are interested in this type of investment. We can access this investor through our master fill and our prior contacts with area real estate brokerage firms and tax exchange accommodations.
It is the primary function of the listing agent to insure exposure of the property to the largest possible pool of prospective buyers. The property will be presented to groups of preferred outside firms, that are known to be effective in marketing this type of property or have done business with listing agents in the past. At these presentations, the outside firms will be sold on the investment qualities of the property and encouraged to present the properties to their clients. In addition, listing agent(s) will cooperate with any other qualified broker who demonstrates the same amount of influence over a specific buyer or group of buyers.
Develop time line based on property-specific needs.
Discreet advertising will be conducted using the following publications:
- Wall Street Journal > Minimum 2 Times
- Dallas Morning News > Minimum 2 Times
- Dallas Business Journal > Minimum 2 Times
All inquiries are contacted personally to ensure that the prospective buyers are fully aware of the properties’ attributes, including their pluses and minuses, in order to pre-qualify their interest. Every effort is made to meet face to face with as many potential buyers as possible, and to conduct on-site inspections of the property with them. The presentation of the property is done in a way that minimizes disturbing the tenants, while highlighting the benefits of the property for the potential buyer, following these procedures:
- Showings are conducted only by appointment.
- Only pre-qualified buyers are scheduled for showings.
- Potential buyers are accompanied on property inspections either by the Broker or the on-site manager.
Throughout the listing period, the Seller is notified of the status of sales efforts through activity reports at least bi-weekly. These reports provide such detail as the Seller requires, including but not limited to, a list of perspective buyers with comments on their interest in or objections with the property.
When an offer from a qualified buyer is received, every attempt is made to obtain the following about the buyer to submit along with the offer to the Seller:
- Current financial statement
- Buyer’s resume
- Bank references
- Acquisition history from the previous year
- Source of purchase funds
Whenever a viable offer is accepted, the agent works closely with the buyer, seller, lender, attorneys and title company to coordinate the transaction.