Planning to sell your Madison area duplex? If your goal is to maximize your return on investment, we recommend focusing on first-time homebuyers as your target audience. Many first-timers are drawn to duplexes because owner-occupying one — with a tenant helping subsidize the mortgage — offers a real, attainable path to homeownership.
Here's what this marketing approach looks like, using our recent duplex listing on Madison's near east side as an example. This duplex received five competing offers and will be closing soon for tens of thousands of dollars above the list price.
(photos courtesy of Step Inside Media)
1) Work with the tenants to stage the duplex.
Even if it's just two or three rooms, staging your duplex will draw the attention of first-time buyers who are browsing listings online. When you're working with tenants, your staging may not be perfect, but it will go a long way toward helping first-timers see your property as a place they could call home.
2) Use professional photos, and add in a virtual tour and floor plan.
Once your duplex is staged, your professional photos, virtual tour and floor plan will help your audience visualize how they would live in your property as owner-occupants.
3) Highlight the benefits of ownership with professional marketing.
Many duplex listings are light on details. We recommend going all in on your marketing by promoting the features and benefits of your property and the surrounding neighborhood.
Of course, you will want to share your revenue and expense information for investors, too, but marketing your home for owner-occupants will help you reach your largest pool of motivated buyers. Reach out if you'd like a helpful consultation for your investment property. We'd be happy to meet with you and help you take your first steps toward a successful sale.
