Jun 10, 2023
In this episode of The MHP Broker’s Tips and Tricks Closing Cocktail podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed rising star broker Paul Schaaf about his challenges and quick success in the recent sale of Grace Mobile Home Park.
This and every Tips and Tricks podcast episode is brought to you by The MHP Broker’s’ proprietary Community Price Maximizer. Use this four-step system to get the highest price possible for your mobile home park or RV community when you sell it through The MHP Broker. Guaranteed. Ask Max for details.
Here Are the Show Highlights:
- The challenge with the sale of this park was that Paul was dealing with the family of the park owners who’d recently died. None of the survivors knew much about mobile home parks or how to market them. They needed Paul to evaluate the park and the sale opportunity. It was primarily a park-owned home asset. (Paul, 1:27)
- Paul’s first task was to educate his clients on the marketing of a mobile home park, and to set realistic expectations. (Paul, 2:08)
- Paul quickly got some solid offers for the park, and went with a regional buyer who knew the market. He carefully conducted due diligence on the buyer, made sure the buyer was comfortable with the transaction, and held hands with the sellers to make sure they understood every step in the process and could provide all documentation needed to complete the closing. As a result, the park closed in an incredibly fast 35 days. (Paul, 2:32)
- Paul’s experience with this sale reinforced The Mobile Home Park Broker commitment to a strong contract-to-close ratio through due diligence and by doing business repeatedly with trusted entities. Many competitors need to bring five or six “buyers” to a seller before successfully closing with that last one. That’s the result of weak due diligence, which can complicate and painfully slow down transactions. (Max, 3:14)
- One key takeaway to this deal was that the parties came together through a referral from a satisfied former client, which emphasizes the importance of maintaining a strong brand with a reputation for good, clean transactions that generate enthusiastic referrals. (Paul, 4:33)
Looking into the possibility of selling your community? Ask The Mobile Home Park Broker team how they maintain their high contract-to-close ratio to sell your park as quickly and as cleanly as possible. Drop Max Baker a line at info@themhpbroker.com or give him a call at 678-932-0200.
Power Quotes in This Episode:
“They really appreciated our thoroughness and service every step of the way and it was a good transaction between all parties.” (Paul, 2:19)
“Typically, when we put your community under contract it's going to close the very first time.” (Max, 3:14)
“Our brand is so strong that we can continue to fill the pipeline with listings and make sure we do a good job.” (Paul, 4:33)
“(Paul and our other dealers)...make sure that your contract-to-close ratio is as close to 100% as possible.” (Max, 5:05)