Rehab/Retail Flip, and Zillow

[Bryan L.]

Fellow rehabbers, have you ever had this happen? You bust your behind on a rehab and then have a potential buyer pass on your newly rehabbed house because they saw how much you paid for it on Zillow and they think you are going to be making too much money? I had a potential buyer to basically say that to me once or twice, and I think it's contributing to my rehab not selling now. I've had about 13 showings in 2 months (which is VERY good for my market) with zero showings. Dropped the price twice. Confident in my comps.

[Thomas Fortune]

Bryan,

In my market, buyers almost always understand that they are buying a rehabbed property that was originally bought for a much lower price. They don't mind (and in fact prefer), because of what they are buying - essentially a brand new house, at the price of an averaged used house.

Despite being told that zillow is the reason for not making an offer, I'd be willing to bet that there are other largers issues at play. If potential buyers feel like your house of the best fit for them of what they've seen, they'll be interested. Regardless of what you originally paid for it.

Are there items you skipped over during the rehab, that people are discovering once visitng the property? (maybe you did paint / flooring / countertops, but ignored the aging extorior / doors / windows??)

Have you staged the property?

Have you provided any "wow" factors in the rehab? (nice appliances, backsplash, etc.)

13 showings is a lot to have 0 offers. There's a problem that you need to find, and i don't think it's zillow.