Investor · CT · Member since 2023 · 141 posts · 29 votes
I'd like to know at what stage of renovations you will list your property for sale such as during the final paint touch-ups, during the finishing touches, or do you wait until everything is finished
I am just trying to get an idea if it would be professional to get potential buyers in earlier to walk through the property
I'd like to know at what stage of renovations you will list your property for sale such as during the final paint touch-ups, during the finishing touches, or do you wait until everything is finished
I am just trying to get an idea if it would be professional to get potential buyers in earlier to walk through the property
Thank you
What a great question, and now is the disappointing answer....it depends. I've seen flippers pre market, buyers come in and goof up the program. "I dont like the (insert item)" flipper tries to accommodate and changes "x" and the "buyer" flakes. Now it doesn't appeal to a different buyer. Personally I think in the beginning it's better to have the whole house done, staged and ready. But, some agents are really good at piquing interest for a house to market. Ultimately you'll have to find what works for you.
Some flippers do such great work that they have buyers lined up, but I think that's a rarity when you look at the nation as a whole. Some flippers are working million dollar markets though.
I'd like to know at what stage of renovations you will list your property for sale such as during the final paint touch-ups, during the finishing touches, or do you wait until everything is finished
I am just trying to get an idea if it would be professional to get potential buyers in earlier to walk through the property
Thank you
I always hit the free listing sites 2 months before it's ready and generally I have it sold without going onto the MLS a month before it's ready. That works out, because the buyer generally has to get approved by a lender and that takes a little time too. On occasion a buyer will hire an agent and expect to get paid, we negotiate that base don how the buyer found my property. When I do use the MLS, I use a service that charges like $700 and I pay the buying agent 2.5%
Keep in mind most people look online for a house, and then when they find one, they contact an agent. It's just the way things are.
I am confused about some of the things you mentioned in your last couple sentences...
When you say "the buyer will hire an agent and expect to get paid" do you mean the buyer's agent expects to get paid?
Next, what do you mean by "we negotiate that based on how the buyer found my property" what are the different ways you could decide that number/percentage?
Real Estate Agent · VA · Member since 2024 · 54 posts · 43 votes
2y
As a real estate agent, I believe that the best time to list a property for sale is after the project is complete. That way you can get quality pictures and the property is "move-in ready."
Regarding compensation that some mentioned, it is always negotiable for both buyer and seller sides. If you are selling, your listing agent should discuss with you how he/she gets compensated and the two of you agree on the price. After that, you can discuss whether or not you will offer an incentive to the buyer. Once the listing agreement is signed, it is a legal document. Any changes would require another legal document.
A buyer's agent should have a buyer's agreement with the buyer that also lays out the compensation he/she will get from the buyer. The buyer is always responsible for that payment, but is relieved when the seller provides the incentive that will pay that fee for them. This could also help a buyer be able to afford the property. Also, one must be aware that some loans do not allow the buyer to pay their agent a commission and no one likes to work for free.
Historically, REALTORS® are able to sell a property for a higher price than FSBOs. This enables the seller to obtain the price they want while still paying the real estate brokers involved. Don't think for a moment that a seller is required to pay the buyer side fees. However, providing a selling incentive to the buyer side could provide the seller with a greater advantage in selling a property.