After the hard work of fixing up a fix and flip property is done, the next step is selling it. And the first step in that process is to get as many potential buyers as possible to be aware that your house is on the market. Here are 5 ways to market your fix and flip to ensure that your home has a large audience of potential buyers.
1. Market the property to the neighborhood.
Even if you’re focusing online, don’t forget the local audience. Put out the usual “for sale” sign out front. Also, print out flyers and leave them for people to pick up. List your home on local and regional MLS and have a local real estate agent help you.
Realtors typically have a vast network they can access to help speed up the process of finding a buyer. Yes, unlike a For Sale By Owner home, an agent does charge either a percentage of the selling price or a flat fee, which you will pay even with limited representation. This cost, if you choose not to do a FSBO, needs to be factored into your ROI.
Put a for sale sign out front. These are the most basic and essential steps to selling the home and should never be skipped. For typical homes (not luxury homes or special interest homes) MLS or a for sale sign will be where most of your buyers come from.
2. Buyers come from all over, so go online.
If you’re on the West Coast in particular, be cognizant of the fact that the West is the fastest growing region for people moving into a particular area in the United States. This means you’re not just looking for local buyers. People all across the country could be looking for homes right in your neighborhood.
Use social media and paid listings in online advertising services. Many people are relocating from state to state. Realtor, Zillow and Trulia are the most popular websites used by people looking to move to a new area. Other sites such as vFlyer, Point2 and Postlets have free listing options.
3. Pay for professional photos.
As we said above, so many buyers today start their search online, so the photos of their home will be their first impression. Unless you have lighting equipment and a high-end camera, pay the fee to hire a professional. They will know how to photograph your home’s interior and exterior in the best light, to make it look the best.
You may be tempted to hire a friend with a nice camera. That can work. But be sure that you have all the details worked out and how you will handle it if you’re not happy with the results.
And, hire someone with product photography experience, or better yet, actual real estate photography experience. The details of shooting homes, land and staged rooms with a minimum of furniture is a very different process and “feel” than shooting portraits of people, for instance.
4. Provide a virtual tour in the form of video.
A walkthrough in the form of a video can be a very powerful motivator for out-of-town or out-of-state buyers who can’t be there to see something in person. A video tour can make people feel like they are actually in the home. With narration, or even better, subtitles (so people can watch and learn without having to have the sound turned on) a video can talk through details of the home that photos and your short MLS listing just can’t convey.
So many people watch videos either in their Facebook feed or online in public places with the sound off. Or, they’re cruising around online during a work break and it’s nice to read what they are saying sans sound.
5. Get creative.
Create your own website and Facebook page where you will direct potential buyers. List your property on Craigslist in your local area and in areas where you think interested buyers would be. Check out eBay Classified or list it as an eBay auction. Call real estate agents and ask if they know of any cash buyers.