5 Big Reasons Why Your Foreclosure deal Is Not Selling Fast!
And How You Can Make Sure Your Investment Properties Sell Faster Than Your Competition! Part I
My first deal sat like a lazy turtle on the market for four months before it sold – for a nice profit of $15,000. Let me tell you, back in the days, I needed that $15,000 like water. But the biggest problem that I faced was that I had no idea on what to do sell my house – faster, quicker and get my check.
The reality of real estate selling is pretty simple – you only get PAID when you SELL!
Over the years I have discovered 5 big reasons why houses don’t sell Fast! Now remember this is all about selling houses fast so you can get your check faster. So here we go:
1. Nobody has any idea besides you & your dog that you have a house on the market. Even your significant other has no idea that you have a house to sell! No Kidding!!
You put a little tiny advertisement in your metro newspaper with your cell phone number and maybe spent $300-$400 on a For Sale By Owner Kit that got your house listed on the color magazines that you can find outside supermarket doors.
2. You decided to go all out and splurge! So you put the smallest, usually a 4 feet by 2 feet sign outside your house that you bought from Home Depot. It says, House For Sale and you wrote a phone number with a black marker on it.
Problem is that in order to see that phone number, somebody has to see the house, discover the sign, get out the car, walk up to the sign and write the phone number down. All this work even before they call you!
3. It took you exactly 3 minutes to write that classified ad for the local newspaper. You are a brilliant copywriter and feel anything more than that might get way too many leads for you to handle. Problem is that your ad reads, “ 3 Bedroom/2 Bathrooms, Fully renovated, $145,000, Call 555-1212”.
I guarantee you that first nobody would call or even if they did an ad like this would pull non-serious buyers to call you all day.
4. You spent thousands of dollars turning this ugly duckling of a house into a graceful swan! Too bad you forgot the spend $400 on landscaping outside, especially when it is spring / summer time!
Do you know how cheap it is go to a farmers market and get some perennials by the cases and drop them in front of the house with some topsoil and mulch from Home Depot? Want to go fancy, buy some $1.35 bricks from there too and make a two brick retaining wall!
5. Walk in the house – O.K. it is empty – I mean really empty – it looks like an empty house and not like a home – the costs to turn a empty house into a cozy home is around $75.
The profit to you is usually a couple of thousands that you don’t have to knock off the price to sell. You have to turn your empty house in a “home” to sell it faster. I don’t mean you need to furnish it but you need to create an “illusion” of a cozy home.