7 Factors to Maximize Top Dollar on your Next Fix & Flip
1. Market your house at a fair and reasonable value. Agents believe that the majority of your marketing is the price you set for your home. If you over-price the property, you simply help the competition which is why it is important to analyze and carefully look at sales data when setting a price. Keep in mind, a high price translates to more days on the market. More days on the market then gives the buyer negotiating power. Therefore, a house that has been on the market for a long time invites lower offers.
2. Market yourself online. Statistics show that 92% of buyers use the internet to look for houses. Creating a digital presence will help you tremendously, this includes marketing yourself through Facebook, Instagram, Twitter, and Pinterest. Marketing yourself on social media sites is an easy and convenient platform to start at and it’s quite affordable.
3a. Taking good pictures is key. As the saying goes, pictures tell a thousand words. The better your pictures quality, the more likely people will be drawn into seeing the house in person. Posting great pictures helps draw buyers in, however, to take it a step further, create a video to give them a virtual experience. A virtual experience gives the buyer a sense of reality as if they were physically in the house. Just as if we were to see pictures of our dream house, then close our eyes and visualize ourselves in that space. This makes us feel a sense of reality so why not provide this for your buyers through a virtual tour. This draws them even closer to wanting to see the property in person. For larger properties, this is an advantage and will likely help drive more traffic.
3b. Make sure the house is presentable. Buyers won’t settle for a home in which they will need to invest time and money into repairs. If they can go down the street and find another home which looks more presentable, guess which house the buyer would go for? This may seem obvious but it’s important to emphasize. Even if the house has been fully restored, be sure to address any important details regarding repairs and maintenance because you wouldn’t want to sell a house without being fully honest just to make quick money. By creating a pamphlet & addressing all the repairs, it gives a visual of the before and after which further validates why this property is worth buying.
4. Holding an open house is an awesome strategy for selling, however there are a few things to keep in mind when choosing the best time to do so. It is important to be mindful of the fact that we all have responsibilities. Home buyers should not have to work around their schedule to attend, especially if they are highly interested. You wouldn’t want to miss out on an opportunity because the buyer couldn’t attend the open house. Time the open house accordingly, in order to have a more successful turn-out.
5. Visual presentation is everything when selling a product. What better way to present your property then to light up the house. In addition to the location, the buyer emphasizes that they want good lighting in their home. We don’t want the home to look gloomy and sad, so by adding lights, this instantly creates a bright and cheery atmosphere – this will make the house look more presentable to sell.
6. The kitchen is the heart of the home. The benefits of remodeling your kitchen are endless. Kitchens set the tone for the entire house. They have the ability to not only provide a meal but a complete experience.
7. The first impression is crucial. Many buyers have already judged your home before they have even walked through the door. It’s very important to make people feel warm, welcome and safe as they approach the house. Upgrade your home’s landscaping with brightly colored flowers to make it look nice even before they enter the house.
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