Everywhere you turn, there’s a media frenzy stitched with doom and gloom about the real estate market.Sure… we’ve all heard it… It’s a buyer’s market! But it seems like buyers don’t want to pull the trigger… they’re “waiting” to see if we’re truly at the bottom of the market. They’re waiting to see if the feds drop interest rates again. They’re waiting to see if there’s a better deal around the corner. The point is… they’re waiting! And what you have a house to sell, it’s the last thing you want to contend with! You want a ready, willing, and able buyer to put a contract of your property and show up to closing!
The good news is… that buyers (in some markets) are starting to get the picture. In fact, just in the past 2 weeks, I know of 2 stories where people lost out on a home because they thought the selling side was calling “bluff”. The key is to really have a deal that a buyer simply can’t refuse.
Here’s a simple strategy to get a flood of potential buyers through the door and potentially have multiple offers on the table in no time at all. (Keep this in mind when you’re making your offers on wholesale properties too!!! This model will keep you turning properties no matter WHAT is going on in the market).
- Get a REAL snapshot of the market including how many properties in the community are on the market, how many have gone under contract in the last 6 months, and how many have closed in the last 6 months.
- Separate out the “short sales” (these are often unrealistic and Realtors are getting fed up with showing them when they have real – qualified – buyers.
- Price your property below any NON short sales, but slightly above the highest short sale price. Then… put in your listing the following “This is the lowest priced property in the neighborhood that is NOT A short sale)
- List it with a Realtor that has Realtor.com enhanced. (Many flat fee listings will offer this feature as well for a slightly higher fee)
- Hold open houses Saturday and Sunday and put AT LEAST 15 signs out directing people to the property!
We recently did this for one of our regular clients and had 5 contracts in the first 3 days it went on the market. The buyer ended up calling us directly from the sign and wasn’t even brought through another Realtor!
It’s set to close on April 30th…
So I can tell you…this works ESPECIALLY if your area has lots of short sales!
If you have any quick tips that are working for you to help flip houses fast, please feel free to post your comments! We can all get ideas from one another!
Sphere: Related Content
Very good tips of selling a house. Open house is the best idea. And then to you need to “dress” the property in the best light.
Very informative blog. By using the info given in the post one can become successful in the field of real estate. Like Costa Rica HQ it will also be beneficial. Keep wiring indeed.