Have A Property That’s Ready to List? Here’s What to Do
As a real estate investor, you have to overcome many obstacles in your career – you have to find and secure a property that’s worth investing in. After you find the property, you have to find a way to fund to get funding for it. Once you receive the funding, you have to find good, reliable contractors who will help you get it flipped in a timely manner. Then, your last step is selling it.
Sometimes this can be a bigger challenge than you would think. Since the real estate market is so competitive right now, you need to do a lot more than just simply list your property on the MLS, stick a “For Sale” sign in the front yard and wait for the calls to come in.
Not sure exactly what to do? Don’t worry, I’ve got you covered.
Let me introduce you to my foolproof Property Launch Formula. This step-by-step process will give you the tools you need to successfully market and sell your property quickly and efficiently.
Your reputation is VERY important when selling multiple properties within your market. Chances are, if this the first flip you are selling, there will be others in the future. You will want people to remember your properties for the quality product you are selling.
Step 1: Generate a Buzz
The first step in my Property Launch Formula is to create a buzz around your property. You want to distinguish your property from all the others out there. Before you go physically see any property, what is the first thing you do? You look it up online.
Before anyone comes to check out your house, you know they are going online to look it up on Trulia, Zillow, etc. Make sure the photos you have posted are high quality photos that show the hard work you put into your property.
Did you spend a few extra bucks by installing upgraded cabinets or granite countertops? Point that out in your property description – make sure to distinguish yourself from the competition. Show that you are providing a superior product compared to the others in your market.
Check out the listing of my property I am currently selling at 2477 W. 5th St. in Cleveland, Ohio on Zillow.com and scroll through the pictures.
We used a professional photography company to come and took interior and exterior shots of the property on a beautiful day. They also used a drone to take aerial shots of the house and the view of downtown Cleveland that is just a 5 minute drive away from the home.
2477 W. 5th St. Cleveland, OH
Step 2: Know Your Market
It’s also very important to know your market well – you have to be able to cater to your buyers. Understanding your market and knowing what home buyers are looking for will help you sell your property that much quicker.
Maybe wood floors in the living areas are more popular than carpet or buyers prefer farm house kitchen sinks.
Keeping on the latest trends in popular tile and paint colors is also very important – right now, neutral grey tones are very in for wall colors. Make sure aren’t painting your rooms any loud colors that will make it hard to appeal to all potential buyers.
Step 3: Schedule an Open House
If it’s done right, it will be a long day for you of preparing. We have found that Open Houses work best when they fall on a Sunday afternoon. People will come through after church or brunch when their weekend starts to settle down.
Our Open Houses usually begin between 1-2pm and last for about 2-3 hours. Make sure to give a specific start and stop time so people don’t show up after the fact at 6pm.
A way to keep that I like to keep track of everything that I need to do before an open house is by using the Task List Manager I created. It’s a spreadsheet that breaks down every task from two weeks BEFORE the Open House up until the day of so I NEVER forget anything and each one runs smoothly and almost exactly the same.
To learn the next steps in my Property Launch Formula and download my Property Launch Task List Manager, click here. You will be able to gain access to other secret ‘Insider’s Playbook’ of Real Estate Investing Checklists, “cheat sheets,” reports, systems and standard operating procedures that I use in my business EVERY DAY!
CEO Strategic Real Estate Coach
CEO Freeland Ventures and Freeland Lending
CEO Yellow Jacket Properties