Tips on how to sell your flip faster
Buying low, selling high, and selling fast are the goals all flippers aim for. Unfortunately, the longer a house sits on a market, the more it can cut in to your bottom line. While experienced flippers know there is no one thing that makes a home sell fast, there are a number of things flippers can do to get their homes off the market faster. Whether it is your first or your fiftieth, the following tips can help you sell your next flip fast.
1. Renovate for the market. When flipping a home, it’s important to make renovations that will appeal to the widest number of potential buyers – not your personal taste. Study homes listed at similar price points in the surrounding neighborhood for ideas of what local buyers are looking for. Potential buyers for a downtown loft, for example, often want different finishes than those in a suburban family home. Sticking with neutral colors and patterns can also appeal to the widest number of buyers.
2. Spring for professional staging. If you’ve already invested tens of thousands of dollars in a flip, don’t stop short of presenting it in the best possible way. A stager will look at a home with fresh eyes, helping to highlight – or hide – a home’s unique features.
3. Price competitively. Potential buyers will look at the price before they look at anything else; pricing a home competitively at market value is the best way to ensure it will sell quickly. Pricing a home based on local real estate trends – rather than what it cost to renovate it – ensures it won’t sit on the market for months.
4. Flip the exterior, too. Many flippers focus the majority of their budget on interior renovations, leaving enough in the budget to trim bushes and little else. To help your flip make a good first impression, make sure to leave enough room in the budget for exterior renovations. Small changes such as new house numbers, painting the front door, spreading new mulch, or planting flowers can make a big impact.
5. Scrub the house from top to bottom. Before letting a listing go live, make sure your flip is picture perfect by having it professionally cleaned. This is particularly important if you had major construction work or renovation done; a professional cleaning crew can ensure there is no dust or debris left behind, leaving the home immaculate for its first showings.