Three proven ways to sell your fix and flip for more
When our clients wrap up a great real estate deal and achieve their goals, we're proud of the part we play.
When the deal ends with less-than-ideal results, we know we have some work to do. To finish strong, here are some tips for selling your newly renovated property at the best possible price:
1. Use professional photography
Some real estate pros think that professional photos are only for higher-end homes, and opt for amateur photos to help sell their properties. Numerous studies show that professional photos are a high-return investment in real estate marketing. A 2015 REAL Trends study found that there was a significant boost in commissioned earned from higher selling prices associated with the use of professional photography -- up to 102% more for real estate pros who always used professional photos.
2. Tap your network
It's fair to say that real estate runs on referrals. Deals simply get done faster and more often when there is teamwork in place between lenders, investors, agents, mortgage pros and others. Too often, newly renovated properties are placed on the MLS, where they are shown alongside thousands of other local properties. To give your sale a boost, be sure to let everyone in your network know what you have to offer, along with high-quality images and property details. It's not unlikely that someone you know already has a buyer looking for the type of property you're selling.
3. Price it right
Research shows time and again that pricing a property correctly at the outset results in a faster sale for a higher price. Some people believe it can't hurt to ask for a higher price and lower it if necessary -- but it does. Newly listed properties receive the most attention and views, and an overpriced property may be ignored by those who don't want to negotiate with an unreasonable seller. In contrast, a fairly priced listing in a low-inventory market could receive multiple offers from people who recognized a good value that likely won't last. As with the purchase price, be sure to do your homework and carefully study comparables and market trends to arrive at a fair selling price.
Contact us today to learn more. Our clients consider us to be partners, not just a money source. We think you will, too.