Conflict Of Interest?
I own a 9 unit,lot,house, purchased 360K in 3-05. The seller/realtor managed it for me for 9mos, then the selling agent (his friend) took over in Jan. Recently vacancies have increased, rents holding or down, laundry coin decreasing, repair costs increasing.
Manager/Realtor mentioned interested Ca. investors. I asked her what she would list it for today =449K, so I stated that we could put it out in a way that the tenants did not know. She just sent a 180day, 10%commision, exclusive listing agreement. Have I not just created a monster conflict of interest if I agree to this? ?
You have 2 choices fire the management you have in place now or get a CMA report from a few realtors. By the way do not sign that contract.