Selling Your Rehab in a Week

Selling Your Rehab in a Week

The rehab home you have worked on isn’t truly complete until you sell it. No matter how great the home looks today, selling your rehab is paramount in order to get back the money you put in and nice profit to boot. However, you cannot try to sell the property for more than what it is truly worth even if you did put a lot of time and effort into the rehab process. So, here are a few things to keep in mind before you put your rehab project on the market.

Forget the Work You Put Into the Home

This may be the toughest part about selling your rehab, but the truth is that no buyer will fully understand what you went through of hiring an architect, dealing with permits, dealing with contractors, cleaning the house, doing labor yourself, etc. All they will know is the price you listed the home for and what the home offers through pictures and the listing. So, even if you had to go through hell and back to get the home in tip-top shape, the buyer is not going to fully understand what you went through. You will need to put all that behind you and remove yourself emotionally from the home and the process to sell it quickly and efficiently.

Post a Proper First Price

The first price you put on your property also provides the first impression for potential buyers. You do not want to post a price that is too high otherwise you will not only turn away those who are initially interested you may not get them back even if you post a lower price down the road. Instead, you should post a price that is appropriate for homes that have sold in similar condition.

The biggest mistake most Realtors make is listing a $200,000 home for $199,000. The reason agents do this is the same reason that candy bars are 99 cents, it sounds cheaper than dollar.  The problem with that logic is that buyers on the internet look in $10,000 and $25,000 increments.  Go to Realtor.com, Zillow, Trulia, and Redfin. There is not an option to look at homes beginning at $199,000 and up.  If you list your home for $199,000, you home will not even be seen by buyers looking at homes $200,000 and up.  If you list at $200,000, your home will be seen by buyers looking between $175,000 – $200,000 and it will also be seen by buyers looking at homes between $200,000 – $225,000.

Momentum from First Listing

Your real estate listing of the rehabbed property will garner the most momentum for sales in the very first week. So you’ll want to take advantage of that when selling your rehab. By really pushing your property right out of the gate you’ll gain as much momentum as possible which will offset the natural decline in interest that occurs the longer your home sits on the market. Plus, if your property stays up for weeks you may be forced to lower the price or simply go for the best available offer.

You should aggressively market your home by sending mailers, making phone calls, having a high definition virtual tour, creating a 3D virtual tour, and doing extensive internet marketing.  Your goal should be to get multiple offers on your property in the first week so you can negotiate from a place of power vs selling it to a buyer several weeks or months later where the buyer has the upper hand because they are the only offer on the table.

Selling your rehab in a week can be done by using an aggressive marketing plan, see ours at www.BringMeTheBuyers.com