I'm trying to minimize day of market by listing my rehab house to to mls before the rehab finish. is it a good idea? has anyone list their house up before it actually finish and get the buyer on the contract before the house even finish?
It is usually a bad idea for a couple reasons:
1. Buyers cannot envision the final product.
2. Buyers want you to make changes to your remodel plans which in most cases cost you more money.
Is correct, I have been buying fixing and selling homes for 20 plus years 20 plus homes a year and not one when I tried to pre list was it a good Idea. seam to me those ones I tried to do that with they took the longest to sell.
I would not recommend it. The buyers will have a hard time envisioning the final product and could do more harm than good.
I agree with everyone here, also for a buyer/agent who's not aware that the house has been going through rehab and only focus on DOM will probably look for price reduction.
Absolutely not. As a realtor and investor, I can assure you that you'll have the most showings during your first 7 days. Your flip should be finished and sparkling clean.
The best way to reduce your # of days on market is to accurately price your property and have it show ready for day one on the MLS.
Best of luck!
Ditto on what everyone has said. NO! You will waste more time and possibly lose a good buyer.
alrite then! Thanks everyone
mixed feelings on this one. I had one last year I listed just because that area had little inventory and short time on market. It was inder contract at full price in 30 days, HOWEVER, the buyer did ask for changes that were a pain , but I charged them for one item that I made them pay in advance, on the other was a non refundable added to Earnest money. Initially thought priced too low, but homes in that area TOM has increased. Another thing that helped was that the buying agent worked with small builders so he was able to walk client through the steps, though he was a pure ahole to me and builder. Another thing is I made clear to builder to have agent only communicate with me. Client was there ever other day and had builder to instruct workers not to answer questions but have them talk to their agent. It was a nice feeling to have a contract from a buyer with 20% down before completion. I would posdibly do again and set expectations to agent and for him and their client.
Going against the grain on this one. Being a Director of a real estate company we do pre-list product for our investor clients 'IF' their product is well known and the inventory is low. We have pre sold two properties last week with is effort. We do not allow showings until the product is at the cleanup stage/pre staging but we have had success drumming up excitement and offers this way.
To the other posters point: you do need to be careful in exercising this option.
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing