Let’s recap what a traditional realtor sale encompasses so we can then compare it to private property sales. First, you would ideally interview 3-5 realtor agents to make sure you are comfortable with one that understands both your individual needs (fast cash, minimum net, short sale, etc.) as well as your neighborhood. Then you sign your exclusive listing agreement and your realtor starts marketing your property through, ideally, all potential outlets to find a buyer. This includes listing the property on the local MLS (multiple listing service), posting a sign out front, advertising in the local paper and, of course, everywhere possible online: business page, social media sites (Facebook and Twitter), perhaps a YouTube video walkthrough and more.
Barnett suggests doing as much homework as possible. She states, “Last year, there were multiple offers on the property I bought. The seller takes a look and decides what they’ll accept. They don’t always take the highest price. What worked for me was I had cash and could close the deal sooner. I looked at the property, had inspectors check it out. I went with them. I got up on the roof with the inspector.” However, according to Bromma, the practice of doing your own research places you in the minority.
You’re the broker, and it’s a win-win for everyone involved. Desperate sellers have a buyer for their home and investors save time, money and hassle finding deals on their own. You’re literally handing investors deals.
It might be too expensive to replace the carpets, but you can replace worn-out welcome mats and entrance rugs, and a carpet cleaning is relatively cheap. Repair small carpet damages, or cover them with furniture. You should be honest with potential buyers about these flaws, but this needn’t be the first thing they see. Remember: you’re trying to create a good first impression. Be sure to check the quality of wood beneath your carpet; you may discover a beautiful hardwood floor.
Below are some of the tips on how to effectively join an investing group. This would be moderately challenging but if followed effectively, one will get through.
Investing in house property is a much safer option that investing in the stock market. There is always a risk factor involved with investing in stocks. While there is risk involved with investing in property also, it is very less when compared to the stock market.
Some of the things that you can do to begin preparing yourself is to join a real estate invesment organization or group. This is a great place to get support and resources. You will meet other people who are doing the same as you, and you can meet people who have been doing this for a long time. This is a great opportunity to really get to know the business better. It is important that we mix and mingle with people who know and understand the business. So, let’s get to work!
Then if there is not immediate interest, they will hold a few open houses where stranger after stranger walk through your home with no guarantee of an offer or one that you’d consider. You might then lower your price incrementally week after week until you finally sell at market value (the market — buyers — are telling you what it’s worth via their purchase offers).