Mobile home park owners are the independent type. I know I am. I enjoy the freedom of running my own business and providing housing to people who want to be homeowners without the hassle of owning and maintaining land. And, this type of rental space ownership typically has less overhead than your average apartment building; the mobile home parks business is one that’s designed around self-sufficiency. That’s why I’ve noticed that when mobile home park owners decide to sell, they almost always try to do it themselves first.
Now, there’s nothing wrong with trying to sell your mobile home park yourself. One big plus is that if you do it on your own, you don’t have to pay a sales commission. However, you may lose out on some potential profits if you’ve never attempted to sell commercial property before. After all, finding someone to buy an entire park isn’t as simple as finding someone to buy a home. It’s a big purchase that not many people are in the market to find.
That’s why you need to advertise your park where commercial property buyers are looking. You might be surprised to learn there’s more than a few low-cost, or even free, online resources that will help you connect with buyers. As an even better option, you can connect with a direct buyer to make that sale fly by. Let me talk you through the popular ways to list your mobile home park for sale.
LoopNet tends to be one of the first places I look for new park properties, as it’s a resource designed specifically for selling commercial property. It’s a high traffic site, one of the more well-known in the commercial property sector. The site reports getting about 5 million views a month and is currently listing more than 800,000 properties. Here are the basics you should know about using LoopNet:
LoopNet is probably the gold standard when it comes to commercial real estate property listings, but it also gets expensive. Another option, that you can use for free, is Craigslist.
Craigslist’s biggest draws for listing your prak property are that it’s free and already optimized to focus on your local area. You can also include up to 8 pictures of your mobile home park. Craigslist even offers email relay, meaning messages will go to your email, but your email won’t be shown, even when you respond. No one will receive your personal info unless you give it to them. Here’s what you need to know about using Craigslist:
One thing to remember about Craigslist is you’re better off not putting your personal details in the listing. As long as you keep that in mind, it doesn’t hurt to try this avenue for selling your park. It’s open to everyone, unlike more industry focused sites like Zillow and Trulia, that we’ll get into now…
It’s important to talk about Trulia and Zillow because these are the two big players amongst real estate websites. Users can search by location, price range, and more. And, both have over a hundred million views a month. Trulia and Zillow have similar features and requirements to each other, including:
These two aren’t especially useful for selling your mobile home park, although some sellers may get lucky. For mobile home park sales, you’re better off with sites that target commercial real estate, like the Commercial Investment Multiple Listing Service I describe below.
The Commercial Investment Multiple Listing Service is a free tool for selling your park property. The site breaks down listings very specifically, allowing you to target the right audience. Here are the basics on CIMLS:
Listing your mobile home park for sale on a website isn’t as simple as writing an email. It may require some technical ability and keyword optimization knowledge. You’re also going to need to be prepared to provide the following information about your park:
Once you have all this information, you’re going to want to craft an eye-catching ad and then put it up on every avenue you can think of. If it’s free to list, then you may as well list it. If it costs money, you’ll have to weigh the cost with what you expect to get in return. Some of these property listing sites can be very expensive when you’re considering premium options.
Note that by listing on these sites, you’re going to get flooded with emails from brokers and agents who want to list the property for you. Your inbox probably isn’t going to be filled with potential buyers, but instead with brokers who want a commission from the sale. If you’re selling your park yourself, you’re probably trying to avoid that.
Now, if you’re starting to feel a bit over your head with all these different options, there’s an alternative that doesn’t include a realtor. Minimize your expenses; find a direct buyer.
While real estate sites can be very useful, the cheapest and fastest way to sell your property is a direct buyer. They’re the best selling route because even if you don’t wind up going with them, they can give you insight about your property, like a good idea of your park’s value or any issues that might make it unsellable. Here are just a few of the benefits of working with a direct buyer:
If it doesn’t hurt to do it, do it. If it doesn’t cost anything more than a few minutes of your time, why not? You don’t need to roll out a major marketing campaign to sell your mobile home park. You just need to take advantage of online tools and connections already out there. Worse case scenario, you walk away smarter.
The same goes for dealing with me. I’m one of those direct buyers who’s in this for the long haul. That’s why I’m not going to lowball you. If I’m interested in your park, I’m going to offer you what it’s worth. Even if you don’t go with me, you’ll still have a free estimate that you can bring to the table when you look for buyers through online sites or if you decide to sign a contract with a broker. If that sounds like a good deal to you, give me a call or shoot me an email.