Best Ways to Sell a Property

Best Ways to Sell a Property

Real Estate Investor · Lakeville, MN · Member since 2008 · 153 posts · 17 votes

I have been scanning BP to find the best way to sell a property and it seems like there is a lot of information but it is all over the place. Does anyone know of a blog or good article (or maybe even a good book) that lays out a whole selling strategy for your property?

It would be great to have in one place a guide that might go over:

1. How to advertise using payments instead of just purchase price - as in "Buy this house with your tax refund check and $920 per month!" Then work with lenders to make this possible for people.

2. The best places to advertise - obviously MLS but also all the internet sites, flyers, networking etc.

3. Showing and staging the house for maximum profit.

4. Possibly using the auction techniques.

5. Incentives to offer buyer's agents and how to get creative.

6. Lease option selling and how to attract a buyer that way (this may make the scope of the information too large).

7. Multifamily house selling - should you leave one unit vacant to show it like an owner-occupant property? Should you have both units vacant? Filled?

8. Any other tips and techniques I have not thought about.

Maybe this is a lot to ask, but I noticed that Ron LeGrand is advertising his how to sell houses in a slow market course for $1495. Seems like the BP forum members could do a lot better than that?:wink:

Thanks for any ideas people have. If I missed previous forum posts that are really complete and comprehensive, my apologies and would appreciate you directing me to them.

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J ScottPro Member
Moderator
Investor · Sarasota, FL · Member since 2008 · 17k+ posts · 17k+ votes
15y

I think I've shared all of my "secrets" both here and on my blog, but for me, it boils down to:

1. Nicest house in the area for the best price
2. Awesome staging
3. Professional pictures
4. List on the MLS with great marketing copy
5. Make sure every showing is perfect (lights on, blinds open, etc)
6. Talk, talk, talk to agents
7. Offer an agent incentive when necessary

Then, most importantly, once we get a contract, we maintain full control over the closing process to ensure that the deal actually does get closed.

Happy to expound on any/all of those things if you have specific questions...

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  • Real Estate Broker · Minneapolis, MN · Member since 2011 · 5k+ posts · 6k+ votes
    15y

    Lol, a good writer, amusing.

    Hal,

    there is no 1 shoe fits all for selling. The sell is part of the strategy. You sell a rental differently from a flip, differently from a time share, differently from a wholesale. And each has it's own best way to sell.

    A flip requires a great marketing strategy and team. I flip. When it comes to the sell, I use staging, cleaning, pro pictures, 360 virtual tour, it's own web page, open house, open house realtors lunch in, radio spot, and a realtor marketing team of 180 realtors. Yes, we market like you would not believe, blast marketing.

    A rental, we photo 1 unit (best one), and numbers numbers numbers. Then we market that in a 1 page format out to a list of landlords, landlord meetings, sights, and open sights.

    Get the picture, the marketing is a big part of the entire strategy, and each is unique to the investor and strategy, and really, and big part of how the investor makes what they do.

    I can't just give out all my good stuff for free, it won't be so special any more. But i will tell you, when selling put yourself in the shoes of who you want to buy, pretend your them, where would you then see that offering, what would make you go "hey, look at that". Reverse engineer it.

    Tell ya what, $1,495.00 junk, I will design a marketing campaign for 2 properties, custom campaign built step by step for that exact property, for 1/2 that ridiculous $1,495.00 old outdated one size fits all stuff.

    Let me ask you, do you think a lot of people are buying that thing, and doing his marketing plan. Yeah, probably. Well do you think your marketing will stand out, in a crowd of people, all doing the exact same thing? No, it will all blend into a blob.

  • Real Estate Investor · Lakeville, MN · Member since 2008 · 153 posts · 17 votes
    15y

    James,

    Thanks for the great advice and totally understand you can't give away your secrets - but I may hire you to market my next flip!

    Hal

  • J ScottPro Member
    Moderator
    Investor · Sarasota, FL · Member since 2008 · 17k+ posts · 17k+ votes
    15y

    I think I've shared all of my "secrets" both here and on my blog, but for me, it boils down to:

    1. Nicest house in the area for the best price
    2. Awesome staging
    3. Professional pictures
    4. List on the MLS with great marketing copy
    5. Make sure every showing is perfect (lights on, blinds open, etc)
    6. Talk, talk, talk to agents
    7. Offer an agent incentive when necessary

    Then, most importantly, once we get a contract, we maintain full control over the closing process to ensure that the deal actually does get closed.

    Happy to expound on any/all of those things if you have specific questions...

  • Real Estate Consultant · Fredericksburg, VA · Member since 2011 · 11 posts · 1 vote
    15y

    I have a blog you may get some tips and techniques from when selling (faster).

    No one can guarantee that a home will sell, but when it's shown in a way that looks like a "Model Home" it can attract a lot more buyers and that's exactly what a listing needs to do in order to receive an offer and sell faster.

    Good luck.

  • Real Estate Broker · Minneapolis, MN · Member since 2011 · 5k+ posts · 6k+ votes
    15y

    Hal,

    I was more so joking about that whole deal of doing it for you for half that price. Feel free to shot me a e-mail on your next one and I will look at it and tell you what I would do if it were me, for free, no problem.

    It seems like there is a monsoon of those "learn how to" package things now, all from "experts". If I wasn't so busy actually doing this stuff, I could probably put out my own "expert" how to guide for $1,495.00, and not have to actually do r.e.i. either.

    The only "package" I would EVER make or sell would look more like a franchise package, and I would provide HML with it as well, and some proper contacts.

    I hope most of you see that much of that is just fancy b.s. sold for way more then it's worth, that you could find on here for free, or at a library or reia meeting.

  • Mobile Home Investor · Spanaway, WA · Member since 2008 · 1k+ posts · 578 votes
    15y

    The answer is always "curb appeal - curb appeal - curb appeal". When someone pulls up in front of your property to check it out - what is their first impression? If outside is not prepared many do not even get out of the car - they continue on to the next property on their list. Once you have the outside taken care of then make sure the inside is looking as best as it can. Wives are interested in the kitchens and bathrooms so seems like these 2 rooms sell more properties. There you have it all in a nutshell with no fancy price tag involved!

  • Residential Real Estate Agent · Hattiesburg, MS · Member since 2011 · 475 posts · 141 votes
    15y
    Originally posted by J Scott:
    I think I've shared all of my "secrets" both here and on my blog, but for me, it boils down to:

    1. Nicest house in the area for the best price
    2. Awesome staging
    3. Professional pictures
    4. List on the MLS with great marketing copy
    5. Make sure every showing is perfect (lights on, blinds open, etc)
    6. Talk, talk, talk to agents
    7. Offer an agent incentive when necessary

    Then, most importantly, once we get a contract, we maintain full control over the closing process to ensure that the deal actually does get closed.

    Happy to expound on any/all of those things if you have specific questions...

    What is the typical fee for a professional photographer?

    Never have used a professional photographer or staging company... Feels like I'm missing out on something!

  • Residential Real Estate Agent · Hattiesburg, MS · Member since 2011 · 475 posts · 141 votes
    15y

    My criteria for selling

    A) Price

    A2) Hire the best Realtor in the Area. The fee difference between the best agent in town and the worst is usually $0. Make sure you get what you are paying for.

    B) You are competing with every house in the area. Make sure to have a superior product.

    C) Make sure your agent is a preferred member on Realtor.com... I get great results from that site above all else. "Signed a contract and received a 50K ernest money deposit today from a Realtor.com Buyer."

    D) Make sure your agent is sending out notices to the MLS members for Open Houses, Price Reductions, Agent bonus etc...

  • J ScottPro Member
    Moderator
    Investor · Sarasota, FL · Member since 2008 · 17k+ posts · 17k+ votes
    15y
    Originally posted by Ed Lee:
    The fee difference between the best agent in town and the worst is usually $0.

    Actually, the good agents will cost you 3%...the bad agents will cost you nothing... :D

  • Wholesaler · Fort Worth, TX · Member since 2011 · 163 posts · 45 votes
    13y

    Ed Lee 25 professional photos in the DFW area costs about $100 and includes a video tour as well. Not sure about your area.

  • New York City, NY · Member since 2012 · 60 posts · 14 votes
    13y

    Be detailed in describing your home and make sure you use double-digit list of words, phrases and word families that you and your listing agent can use to craft a vivid listing description of your home - and the lifestyle you want buyers to visualize living in it.

  • Real Estate Investor · Audubon, PA · Member since 2009 · 13k+ posts · 8k+ votes
    13y
    Originally posted by J Scott:
    Originally posted by Ed Lee:
    The fee difference between the best agent in town and the worst is usually $0.

    Actually, the good agents will cost you 3%...the bad agents will cost you nothing... :D

    ... the bad agents will cost you nothing but additional holding expenses and will temporarily save you the 3% ... until you have to replace the bad agent.

  • Seth WilliamsPro Member
    Specialist · Grand Rapids, MI · Member since 2012 · 582 posts · 353 votes
    13y

    Some things I've found helpful are:

    - Posting on websites like www.postlets.com (this website syndicates out to much larger networks like Zillow and Trulia)

    - Posting in multiple cities on Craigslist, Backpage & Kijiji

    - Offering Seller Financing (whenever it's possible and practical)

    - Providing Virtual Tours of the property whenever possible.

    If you provide good information in your listings and then blast them out to as many outlets as possible (Postlets is great for this, btw), you'll get a lot more traffic.

  • Robert AdamsBusiness Member
    Real Estate Broker · Henderson, NV · Member since 2009 · 1k+ posts · 373 votes
    13y

    Here are some great sites for marketing:
    Zillow
    Trulia
    postlets
    craigslist
    backpage
    social media - fb, google +, twitter, linked in
    Your blog
    Your website
    Your forum
    Ebay classified

    There is a few to start with hope this helps.

    The Adams Team at Rothwell Gornt Companies4.970 Reviews
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