Question:
“Hi Gary. I want to sell my triplex and was wondering how you handle showings with the tenants?”
Answer:
Typically, once you move from single family to multiple units, the showings are handled as “show with offer.” This is done for two reasons:
- Out of fear that if the tenant knew the property was for sale, the tenant would move out.
- Out of consideration to not disturb the tenant with constant showings. Instead, only serious buyers who’ve made an offer go inside.
This may or may not bring up a question: why isn’t “show with offer” done on houses and condos that have tenants?
The reason is that most buyers of 2+ units are investors who will not be living in the property. Investors’ decisions are more financially based vs. a homebuyer’s emotional factors like appeal and décor, etc.
By the way, even the most seasoned investor still tends to inject some emotion into the decision. Just not nearly as much as someone planning to live in a home.
