A family that wants to sell their home will usually call their local realtor. Most realtors are general practitioners who primarily sell single family residences. Matching families with homes is a general practitioners primary objective. But what if the property isn’t a single family residence? Sellers may ask themselves who to call when they need assistance selling a commercial building or property that would be acquired solely for investment purposes. This is the question the State Bank of Downs asked when they needed help selling 12 Townhomes in Mesquite, NV. The twelve townhomes were rented and Downs wanted to sell them together in a single transaction. The bank realized that the traditional home buyer wouldn’t likely be interested in 12 leased townhomes. Instead of going to a traditional realtor, Downs asked their local attorney Bo Bingham who could assist with the transaction. Bo put them in contact with Jon Walter at NAI Commercial Real Estate.
Jon will be the first to tell you that he is not the person to help you sell your home. Jon sells only commercial and investment real estate and his marketing is targeted toward business owners, investors, and developers. “Often times, general real estate practitioners miss the correct audience for a property because their marketing channels are targeted toward home buyers”, said Walter. “Not distinguishing between a real estate specialist and a generalist can be the source of frustration for sellers who may not realize their agent’s primary marketing channel isn’t their type of buyer.”
Jon recognized that the buyer for the Riverside Townhomes would likely be a Multi Family investor that could take advantage of a future disposition strategy of selling individual units. The property was regionally marketed through multifamily investment channels and the response from investors was very good. The property closed in July. Jon Walter is a commercial real specialist licensed in Utah and Nevada.