6 Tips to Sell your Flips

Price

How obvious is this one? For 2 years the strategy has been to keep pushing the price up. The thinking has been if the comps say the ARV is $400k, let’s push the price up to $450k. And it’s worked. Until now. We need to be more diligent when valuing properties. If the ARV is $400k based on the comps of the last few months, that doesn’t necessarily mean the ARV is going to be $450k or even $400k a few months from now when the flip is finished. We need to build in a buffer in case the prices drop 10-20% back to normal.

Details

These cheap items make a huge difference, but are often overlooked; new door knobs, blinds, light fixtures, light bulbs, fans, outlets, light switches, and cabinet pulls. These must be new and fresh, it will give an impression of quality. If you skimp here and keep dated, yellowed finishes it will make the house feel cheap.

Take quality pictures

Speaking of letting light in, when taking pictures, pay attention to the details. When taking pictures of your flip, pay attention to details such as toilet seats down, blinds open, and lights on. Good angles showcasing the beautiful work done can make your flip stand out in online home searches. Consider hiring a photographer who can capture the best angles, film videos, and take drone footage.

Curb appeal

Water the lawn. Take a trip to Home Depot. New plants, shrubs, flowers, and mulch make a huge difference. The exterior is the first impression a buyer has when they drive up, but is often neglected. If there’s a front porch have a few pots and flowers on there, and maybe a rocking chair. You won’t get a 2nd chance to make a first impression.

Staging

Staging helps sell higher priced or unique properties by allowing buyers to picture themselves living in the house. Skipping this step worked in the past, but not anymore. Put properties on the market that you're proud of and buyers will be proud to live in. Cutting corners won't cut it anymore.