So you’ve made the decision to sell your mobile home park. This is an ambitious undertaking by itself, and yet many park owners try to go a step above and facilitate the sale of their park by themselves. Every seller is looking for the easiest, most lucrative deal possible but often won’t utilize all the resources at their disposal, especially mobile home park brokers. This will cause the owner-seller a lot of frustration with the process. MHP buyers are notoriously a difficult group to work with. Often the buyer will either low-ball the price, tie up the park for months and then re-trade the price, or simply walk away with no real feedback after initially convincing you that they were highly credible buyers and capable of closing on time. An overwhelming and frustrating process for sure. A good broker would have helped you avoid this.
As trusted professionals who understand the market and the closing process, brokers are a valuable partner to have when selling your park. Here are 4 of the biggest reasons for sellers to work with a mobile home park broker:
Get Significant Exposure to a Unique, Qualified Buyer Network
Brokers, by trade, bring a rolodex of qualified buyers to every listing. Glenn, who sold 36 mobile home parks in 2018, has over 8000 dedicated MHP buyers chomping at the bit for a deal. Brokers have a network spanning the range of first-time buyers to publicly traded companies. Within the first few weeks of marketing a listing, some brokers can easily generate multiple offers and create a competitive environment around your park’s listing.
Depending on the listing as well as your broker’s network, it’s often possible to get 3-7 offers right out of the gate for a typical deal. This is a huge confidence boost to sellers that they will get a great deal and close successfully.
Better yet, mobile home park brokers connect you with the types of buyers you won’t find on multiple listing services. These black swan buyers are either out of state, in a 1031 exchange, or have a specific reason to be at your specific property — or all three — and for those reasons, they are willing to stretch their offers in your favor. These buyers are Glenn’s primary focus, and he has access to more of them than any other broker in the MHP biz!
Carefully Vet Mobile Home Park Buyers
Because brokers keep a close network and know the background of all the buyers they’ve worked with, they’ll know not only who is qualified and meets your buyer criteria, but also who will close. Without brokers there to vet and filter buyers on your behalf, there’s a likelihood you could end up working in a vacuum with unqualified buyers who will waste your time and sabotage your chances of selling at the highest possible price.
Obtain the Highest Possible Price for Your Mobile Home Park
Ideally, brokers pay for themselves. There is a clear difference between buyers that brokers bring to your listing and the unqualified buyers you find through MHP Store, LoopNet, or any other listings website. Generally, broker-vetted buyers are more likely to stretch to meet your ideal selling price. In this way, brokers ultimately cover their fees by securing the highest possible price for your property.
Furthermore, some brokers offer evaluation services for free, giving you more insight and more selling power without having to invest anything more than your time. Talk to Glenn about a free park evaluation.
Eliminate the MHP Selling Headaches
Nothing kills a deal quicker than unexpected surprises. And there are plenty of those to be found within the average mobile home park deal. Yet the more you research the “how to” behind mobile home park deals, the more you will realize how complicated these deals can be. Even after investing significant time into learning the process of selling your mobile home park effectively, there’s no guarantee you’ll find the right buyer without the help of a professional. Avoid the pitfalls and headaches through the proper management of your MHP deal.
Learn How Glenn Esterson’s Brokerage Services Can Maximize Your Mobile Home Park Profits
There’s nothing more overwhelming than trying to sell your mobile home park the right way. Don’t go in it alone. If you’re a mobile home park owner interested in selling, Glenn Esterson provides the expert guidance and partnership you need to make this complex process feel simple. And don’t forget to ask Glenn about his network of 8500+ buyers.