April 19th, 2017
Proven strategies to sell your flips faster, for more money
In a sellers market, why do some flips stay on the market longer than others? Are your flips getting under contract in 15 days or less?
Given about the same location and asking price, if House A is nicely updated and staged, and House Y down the street is nearly the same but stands empty with no decoration, which house do you think has a better chance of selling?
According to research done by the National Association of Realtors, on average, staged homes sell 88% faster than non-staged homes. On top of this, staged homes also sell for 20% more! With rehab projects, time really does equal money, especially if it is hard money. If you have ever been to an open house, serious prospective buyers tend to sit on the couches and lie on the beds when they think no one is looking to get a “feel” for living in the house.
You might be surprised to learn that empty rooms actually make the space look smaller. In some neighborhoods, if you find a home with a decent layout – with a little paint, a good professional cleaning and proper staging you could “whole-tail” a house for a quick (lower stress) profit.
So if you have ever wondered what you can skimp on and what is a “must-have” in a flip, you need to come listen to Deb Flye on Wednesday, April 19th. Deb started in Real Estate Investing over five years ago, attending Capital City Wealth Builders as a newbie. Now, she is a successful flipper, hard money lender and runs a successful staging company called Staging by SquareOne.
A survey done by the National Association of Exclusive Buyer Agents (NAEBA), found that 82% of home buyers are likely to be distracted from important issues when they go through a staged home. These buyers not only fall for the house, but potentially overpay. It’s all explained in an NAEBA report, view the PDF version of the report here: http://naebareports.org/200708142151StagingReport.pdf.
Quick stats on hot items affecting sales time (National Association of Realtors 2015 study):
- 81% of buyers find it easier to visualize the property as their future home when staged
- 1/3 of buyers are willing to overlook “property faults” when staged
- 52% of buyers are willing to pay more for a staged home
And remember – the first impression is the only impression. Everything else your buyer sees will support their first impression, whether it was positive or negative.
More on Deborah Flye:
Deb, a real estate investor, owner and principal designer of Staging By SquareOne, has completed numerous construction and design projects overseeing the process from beginning to end. Deb is also the Managing Member and Founder of SquareOne Properties, LLC, where she invests in real estate projects that benefit from a major remodel and/or redesign. SquareOne works on projects in the Sacramento, Napa, Bay Area and Tahoe regions.
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