Walnut Street Finance Blog

Is a For Sale by Owner the Right Move to Sell Your Fix and Flip?

Posted by Bobby Montagne on Mar 28, 2017 1:17:28 PM

After the months of sweat equity and money poured into rehabilitating an old property, you undoubtedly want a quick financial return on your real estate investment. Now that you’ve crossed the construction and renovation finish line, you may feel a bit guarded about spending extra cash on commission fees and are considering listing the property yourself. These short-term savings can have long-term negative ramifications. Hiring a top-notch real estate agent can streamline the selling process and ensure you receive top dollar for your fix and flip by getting your property in front of the most qualified buyers - quickly and efficiently.

Here are a few pretty compelling reasons to hire a real estate professional versus going it alone when selling your property:

Get Top Dollar for Properties

Listing the property on your own based upon Zillow and other For-Sale-By-Owner-Real-Estate-Sign-and-House-508499290_2105x1428.jpeglocal real estate sites can cost you big. These sites don’t provide the accuracy that a specialist in your area who understands the market can, so call a pro to see better returns. Realtors also know how to stage a property to appeal to buyers, meaning you can sell your home for more cash and get it in hand quicker with a solid presentation. Most likely the agent has connections in the industry and can pair you with stagers with great track records – like True House Design, for example.

Realtors Have More Exposure

Unless you are satisfied with simply placing one or two private listings yourself, you might want to take advantage of a local Realtor’s ability to post your listing within several publications and multiple online resources. Realtors often work together, and having a publicly shared listing will incite additional buyer interest. The amount of eyes on your listing is exponentially increased by utilizing the Realtor’s vast online platform access.

Negotiations and Closing Times are Reduced

Don’t try to navigate the challenging closing process or deal with potential buyer negotiations. That’s what your Realtor is there for. The settlement documents can be tricky to navigate, especially if this is your first fix and flip. Having a Realtor you can trust on your side and one you can consult with will help better the chances for a seamless closing process. 

Read: 5 Signs Your Real Estate Agent Isn't the Right Fit ] 

5 Traits to Look for in a Reputable Real Estate Agent

You’ll naturally want to be on the lookout for any red flags a potential Realtor seems to exhibit. However, you can avoid those issues by ensuring your real estate agent possesses these five qualities.  

  1. Knowledge, Organization and Reputation — You want to choose a Realtor with extensive knowledge of the area who has experience selling homes locally. Check their background and reviews carefully, and make certain they have a stellar reputation for successful sales, attention to details, and solid organizational skills.

  2. Solid Connections and an Active Network — Make sure your Realtor has adequate local representation and that they work with a well-known and respected agency. If they work with other Realtors in an effort to sell properties more quickly, look at this as a plus in your favor.

  3. Tenacity and Modest Aggression — You want a Realtor who follows up on every lead and who tries to sell your home like it was their own. Being assertive can go a long way, as long as it’s politely distributed

  4. Honesty and Integrity — Even if the news isn’t what you want to hear…you still want to hear it straight from your agent. Whether it concerns pricing, timing of the sale, or concerns about property condition, and honest Realtor will let you know right away.

  5. Tech Savviness — Potential buyers love the convenience of viewing properties online and live listings typically sell much faster than those marketed using traditional methods of signage and word of mouth.

Over our decades of experience in the building and development industry, we have come to realize that quality equals success. We practice what we preach, and only work with Realtors who exhibit the characteristics we have just listed above. Our go-to team that has gotten the job done right on countless deals for us is the Keri Shull team. If you’re just starting your search for an agent that will successfully sell your fix and flip in the Washington, DC area – we feel you’ll be in good hands with her team.  

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Topics: Real Estate Investing Tips

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