Flip sold, but should I of waited for more buyers

[John Kilhafner]

My second flip is under contract and I’m very grateful it sold as fast as it did, but should I of waited for more buyers to come forward and see if the price would of went up. The house was listed for sale by owner at good price and put on FB market place and Zillow (for 2 days) before a buyer came with a agent and made an full asking offer. Going forward I was wondering if I should’ve waited a little longer to see if more buyers would’ve came forward and drove the price higher. Or should I just get in, get out and keep moving?

[Dave Schmidt]

@John Kilhafner first of all congrats on getting another deal done (hopefully it is making you a nice profit!). 

We always list our properties on the MLS, this is something I would highly recommend. If you don't want to pay a listing agent (I list mine myself, I totally get not wanting to pay a listing agent), then find a service that will let you list it for a flat fee of around $500. So many websites are consistently pulling data from the MLS and distributing it to Buyers and their agents that it is must to have your house on the MLS. With the MLS exposure you will have Buyers and their agents that may have never even saw it on Zillow or FB marketplace.

Like @Michael Plante mentioned above we typically wait a couple days. My preference is to list the property during the week and wait until the weekend is over until we even call for highest and best offer. Then we request everyone's highest and best offer by say Tuesday at 5 pm.

Let me ask you this - is there any downside to waiting 3 more days to accept that clients offer? Was there such a surplus of other recently renovated houses in the area that they would just go buy something else? I am not suggesting that you string out Buyers but it is your property, you are not required to accept an offer right away.