Struggling to sell my properties

[335bm]

Hey guys!
Looking for a little advice.
I purchased 2 properties and totally renovated them. New kitchen, bathroom, everything really. Got them valued and they are worth alot more than they cost me. However... They are not selling. I've already dropped the price on one of them. What can i do? I need them gone!
Thanks!

 

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[ZCP]

5 day sale. Search a couple of recent threads on the subject.

 

[Ecom man]

How is the curb appeal? How often do you mow the grass and weed whack? Did you do any landscaping to make the outside look appealing? Are the weeds pulled in the flower beds?
There are so many variables that could be causing the lack of sale from location to the house needing staged that it would be difficult for anyone to answer your question with any reliability.

 

[335bm]

Thanks for the replys.
I will search for the '5 day sale' thread.
I look after both properties very well, i go round once a week to cut the grass etc.
One of them has had only a few viewings. It is in one of the best streets in town, ive listed it £10,000 under what it was valued at. However i dont think the agent is pushing it enough.
The second property has been on the market alot longer, it is also £10,000 below the market value and cheap enough to be attractive to an investor. It was almost sold, however the person failed to get a mortgage.
Feedback on both properties is generally very good. Both properties are in excellent condition. Im not sure why they havent sold.

 

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[CashFlowDepot]

Read this thread

https://www.thefastlaneforum.com/community/threads/first-solo-flip-im-in-trouble.52802/

It's time to get aggressive with the marketing for the property and not leave it up to the real estate agent to do everything

You can see from the "first solo flip" thread that as soon as you take control of the sales process and get a lot of marketing out there you will get the house sold in about 7 days.

To attract attention, you need to do a Highest Bidder Sale, which is similar to a 5 day sale. This will include scheduling a special kind of Open House, blanketing the areas with signs to attract attention to the Open House, putting flyers out in the area, getting a mortgage broker at the property to qualify people on the spot, press releases, and special advertising on craigslist. Obviously a lot more than any real estate agent would do. Send me a PM for more details.

Most agents are more concerned with getting more listings instead of focusing on getting "your" house sold. Sure a few will do what needs to be done, but it is rare. That's why agents ask for a 6 month listing instead of a 30 day listing.

There is no reason the properties should not sell within a week if the proper marketing is done.

 

[rcdlopez]

Got them valued and they are worth alot more than they cost me.

Not really. They are worth whatever the market is willing to pay for them. But I don't think that is your problem. If one of the homes has had very little viewing then perhaps your problem is that people aren't finding your property. How are you listing the properties?

 

[Mike3234]

Maybe you can offer the selling a nice bonus!


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[335bm]

Hey guys. just a quick update on my situation...

I took your advice and hosted an open house day at both of the properties.
I sold one of the properties because of this. I still have the other property. it is in much better condition and a better area but at a much higher price. I have changed agent now aswell so im hoping that they are better.
I live in Scotland, UK and the property market has really took a hit recently due to the uncertainty over the Referendum on Independence from the UK. Hoping things start to get better from now on. I will update this thread with my progress.

335BM

 

[_Cowboy]

Good job on getting one of your properties sold!

I actually and in the same situation and I can honestly tell you that a top producing realtor will move mountains to get your house sold. I actually just gave my regular realtor the boot because all he expected to do was list the property and get paid. That wasn't going very well for me so I hired a top producing realtor from the area that just sold a house a street over from mine in 3 days! A very comparable house that was a little more expensive then mine. From the day I called her, she has really been making magic happen. She even offered to pay for staging on the house for the same commission percentage.

An awesome realtor will move mountains to get your house sold!