Leaving the most important info out on a new listing.
May 01, 2017
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REAL ESTATE-It doesn't matter if you are brand new in the business, or you have 40 years in the business, see for yourself on every listing posted on Multiple Listing Service these agents and brokers leave out one of the first things a buyer asks first on a 6-12 unit building. What is the rent roll?
Is it a way to get calls by leaving it out? Do the agents and brokers like to justify over a phone why a property is 25-30 times income?
With plenty of buyers, some doing 1031 exchanges, they in fact want to know what is the rent roll yearly.
Why advertise incomplete? It is not professional and a waste of time for all involved. Yet listing after listing on 6 families, 8 families, 12 families have all the details except for the yearly rent roll.
How does 6 apartments, 8 apartments, or 12 apartments justify, asking prices of $2 million, $2.5 million, or $3 million without the most important item as YEARLY RENT ROLL.
I can see someone who is brand new in the business doing this, and having a broker who really has no business being a broker to train people properly, but 20, 30 year veteran Brokers, no that is not acceptable.
Maybe Multiple listing service should demand that the yearly rent roll be listed for submission.