When approached by realtors who are trying to negotiate their own short sale listings, I ask, “How’s that working for you?” and their responses are like watching a fish flopping around out of water. Their stories vary but they all have a common theme. Days go by, weeks go by, months go by and still no decision from the lender.
All sellers should treat their potential buyers as honored guests, not unwelcome inconveniences. You’ve opened the door and welcomed them in through the MLS haven’t you? If you are selling by owner the same rule applies. You are selling a product and you want it sold in the fastest time for the most profit, right? How can you easily make your home company ready? How can you prepare for the expected arrivals daily?
Try walking into the closet. If you are going to advertise that your home is spacious, plenty of room or offers storage areas, make sure when the buyers stop by, they are able to see this for themselves. Are the closets bursting at the hinges? Is the garage too full to park a matchbox car? Do you own enough furniture to accommodate several families? Now is the time to part with that most cherished item that you have not seen in years and quite frankly forgot you owned. Have a garage sale or donate items to charity. Make the home “roomy” and buyers will drool in envy at all the space available to store their treasured items.
What’s Your Market? Do you know your local riverfront residences market? Specifically, are you familiar with home prices, market conditions, the schools, local government, etc? Knowledge is power as well as money in your pocket.
Commissions- Commission rates are a standard 6%. If the company wants your business they will agree to 4% or 5% just to get your listing. Just remember all realtor are commission based paid. Some Realtors won’t offer to show your house to clients unless the clients ask because the agent won’t make as much money as showing a different house in the same price range with a 6% commission. You will have your property listed on the MLS though.
So, how many deals like that would you have to do to reach a million dollars? If you did one deal like that per month, you would be a millionaire in 22 months, or in less than 2 years.
You can sell a flip in 30 days or less if you take the time to follow these steps. Handling your flip right from the start, will make all the difference in the end to find that perfect buyer that falls in love with your home!