I'm finding that it's split on weather or not it's a good idea to pre-sell a flip but I have decided to go for it. The Denver market is slowing and going into the slow holiday season it's appealing to go ahead and market my flip FSBO while the work is finished up (my target list date is 10/31/2019).
I don't plan to let the end buyer pick finishing materials but rather, I'm planning to offer a discounted price on the house for an accepted contract prior to the house being finished and listed in the MLS. I'm licensed and plan to discount the price roughly the co-op fee I would pay the buyers agent.
I have about 2 weeks until the new windows are installed so I'm using this time to develop a marketing plan. By that point the main level laminate floors will be installed, bathroom tile and paint will be complete so I should be able to get some decent pictures.
For those that have had success doing this what strategies have been effective in finding a buyer off the MLS?
I'm already planning targeted FB ad's, boosted posts and Zillow FSBO.
Thank you for all suggestions!
I think that whole philosophy “selling off market for 3% less” is horrible plan. You’ll only expose the property to Maybe 20% of all the buyers out there on the mls....with no savings to you. Getting it on the mls should definitely bring more than a 3% higher price.
“Pre selling” is a whole different discussion, but you could still do it more effectively on the mls.
DO NOT DISCOUNT YOUR PRICE. I've done this on a few of my flips. Most of the time, they bring an agent. Also, when you go to list, they can see the old price.
I'm getting ready to put one up now. Zillow has worked in the past. Just make sure you put "SELLER IS A LICENSED AGENT" in all caps. It will cut down on the keller williams agents that try to get the listing.
Serious buyers have an agent, but sometimes you get lucky. I wouldn't put too much into trying to sell it off market. Depending on your pricing strategy, you might miss a bidding war. And yes, they are still happening.