What's the Most Offers You've Gotten on a Flip

4 Replies

I currently have a flip on the market with 4 offers on it (all FHA so I'm trying to get them to switch before we accept one). I don't think I've ever had more than 4-5 offers on a property. I would like to think I do a good job as most of my houses are under contract within 2 weeks, but it seems like my ratio for show to offer is 7:1. What's the most you've had and what is your show to offer ratio (how many shows to get an offer)?

Derek,

I only flip a few homes per year, I think the number of offers was three but one of the group had contingencies so I think I would count me as two quality offers in the first few days after listing.

I list my properties with a Realtor / partner and while I do get email alerts when showing are set up I do not track that metric.  My focus is on receiving an actual offer.  My goal is to come to terms with the first / best offer when ever possible.

Hope this helps with your question / data collection.

Ed

 

3 to 4...

We have had a couple threes, that's my max. 

I don't track showings to offers ratio, its all over the map depending on the house. 

Couple recent examples....in order

Oval Rd, four showings first weekend = one full price offer -3,500 closing cost contribution

Ranfield Rd,  four showings first weekend = three offers,contract 3k above list.

Oak Point, 12 showings over three weeks  1 offer, contract 5k under list

Main,  13 showings two weeks, one offer, contract 18k below list

Twinsburg, 4 showings three offers first weekend, contract 11k over list

Then a rehab affiliate we source all his deal for with similar stats as ours, has the infamous  Galloway house, 40 + showings in seven month 100,000 total price drop, no offers, kinda messes with the stats :-(

I think about 7, hey when Carol Scott is your realtor you have to expect great things.  I believe I had 3 full priced or better offers but all with financing.  The appraisal came in more than $20k less than asking price.  Fortunately, the hedge funds et al had just come in so Carol was able to get a great cash offer!

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