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Updated over 8 years ago,
Sell flip myself or have friend/realtor list it?
Hello BP,
Would like to get your opinion on a situation I am in.
I am currently flipping a house that will be a turn key ready product in a great neighborhood. The inventory in this area is (like everywhere else) very low. I believe it will have buyers ready to make an offer once available because I will price it slightly under market value at $175,000. I got this property directly from the seller thru direct mail.
I do not have my license but I know that I could market the property myself (flyers posted locally and craigslist) and try to secure a buyer. That is my plan while we are doing the renovations. I want to build a list of potential buyers and then when the renovations are complete, I can have an open house for these people and they would get first shot at it. I would be saving $10,500 by selling direct to buyer.
If I don't find a legitimate buyer with that plan, then I will list the property with my realtor who has also been a long time friend. I have told him this and he understands where I am coming from.
Here is where it gets tricky:
- I also know a lot of other realtors in the area that perhaps have buyers for this home. Should I reach out to them and offer to pay 3% commission if they bring a buyer to me? I feel my friend would be upset with me if I did that, but in all seriousness its about the bottom here. Saving the listing 3% would be $5,250!
What would you do in this situation?
Thanks BP!