All Forum Posts by: Bryce Betley

Hack: Only pay for indoor staging. Jump on Facebook Marketplace and spend $100-$200 and grab rocking chairs for the front porch and some patio chairs for the rear area. Draw potential buyers away from just the interior flow and let them also focus on the exterior spaces. And now you have outdoor furniture to use for all your future flip staging!

My experience of doing 16 personal flips in the last 3 years and making sure they not only hit ARV but appraise for it

Yes that comp isn't a flip, but it was recently remodeled.  That kitchen was done very well and the style is popular and very desirable right now.  It has good natural color accents.  

Your property is nice, but it lacks the the natural color accents within the remodel itself. Some good staging will add some color to the place and help tremendously.  I like your plan.  Take it off the market, stage it, take new photos, and put it back on the market with the photos.   If it were me, I'd keep the price the same for now.  If I didn't get any activity after re-listing, I'd drop the price every week until sold.  I think you'll capture some interest at the current price, if you stage it well.  However, it could end up selling for $5-10k less.  Obviously, get the highest price you can ;).    I'd love to hear how it goes.  Keep us updated?

Pictures and condition look good. Unfortunately, that usually means it's the price. Especially if showings have stopped or slowed down dramatically.

This is the kind of thing I advice I hate to hear but also the kind I need if it were my property: 

Lower the price again.

@Bryce Betley

Would it be a bad idea to increase the buyer agent commission?

Is it ridiculous to think that it could bring more buyers?

Do you feel overpriced? Are you trying to push the high end to recoup extra $$ you spent during the remodel...?

I definitely recommend staging.  

I assume the comp you are referring to is on Illinois Ave?  That property has a 1-car garage.  Adjusted sale value is probably $10k-$15k less, depending on your local market pricing.  

IMHO, a 3/1/0 is a tougher property configuration to sell.  Most folks that need 3 bedrooms need an extra bathroom and extra storage space (garages can help with this).  You're not at the top of the market.  I saw the recent comparable sale that sold for $235k.  However, that flip was higher end.  It has tile/wood accented walls, higher grade countertops, open floor plan, crown molding, etc.  

Your home is very nice for the price, but given the time on market for other recent sales, I think it's time to have conversation with your agent about the price, if you have a hard money loan on the property.  You don't want the high interest loan to eat up your margins as you wait for a buyer willing to pay your price.  Of course, you can afford to wait it out a little longer if you own the property outright.  

Again, just my humble opinion...

Full staging is generally a good idea for flips.  It helps the finishes 'pop' and allows the prospective buyer to visualize the use of space.  

As for other recommendations, I'd need to see photos.  I'm not sure if this forum will allow you to post a link.  Maybe share the address?