You know that point of the relationship where things look old. you? Am I? Maybe we need to liven up things or try something different. Of course, I’m pointing to your rehab and flip not selling fast enough, or looking for if you can increase your profits (what else I’m talking about? ?!)
Modifying and flipping is not easy. actual, A recent podcast I was interviewed for, I share my thoughts with BP about what I think about people looking for troublesome real estate. However, when it comes to sharpening to win leads, converting them into contracts, making deals, and refurbishing properties, it deserves to be properly rewarded through rapid retail resale.
Read on to see why making these small changes can have a significant impact on your bottom line.
1) Search for colors
A short list of Bison Beige, Navajo White, and “Brown with Water” creates a clean palette for rehab, but may lack the emotional appeal that buyers are looking for. A trendy new color? Purple.
Purple exudes elegance, royal atmosphere and embraces masculine and femininity. Well, “I’m a princess” purple isn’t what I’m talking about. Many luxury resorts, hotels, and offices use shades of purple in almost grayish shades to set the stage for different color palettes.
This is not a recommendation for a particular paint company, but here are some real-world examples that you can preview the next time you choose a paint for your project.
Olympics: D44b “Shining Armor”
Valspar: 4001-2A “Cadet Gray”
Balspar Allen + Ross: ar1420 “Embacadero”
If you have a proven true color palette for all rehab, you can also add accent walls instead of using richer colors from the main wall color scheme. This is a cheap way to add a “pop” to a location and can easily be fixed if the buyer wants to change it later.
2) Stage setting
As investors, we are all about ROI. Here are some hidden gems to earn hundreds to thousands of dollars: Purchase decorative materials and perform rehab.
The mission is to create a full vision that the home will look like furniture without overwhelming the buyer’s ability to see their belongings. Is it worth hiring a professional stager even if the team doesn’t seem to have the knack for style?
This can depend on the size and listing price of the home, and what the buyer’s profile is most likely to be.
As with any presentation, you need to consider your audience, and staging is no exception.For example, many rehabs that live in the price range below 200K usually do “light” things. DirectingMeaning, photography, plants, blind curtains, accessories.
However, if you’re working in a mid-to-high-priced home, you can provide high-end furniture (which emphasizes “look”) such as sofas, dining tables, beds, comforters, and decorative pillows. , I can introduce you to that house. more. Whether you’re visiting another staged home or reading online how-to, you’ll learn how to add appeal to your sales with simple steps, regardless of price range. Here are some of my personal tips:
A) Check out locations such as Ross, Big Lots, Goodwill, TJMaxx and other retailer offshoots. Such places are a treasure trove of kitsch materials that are ideal for staging. Look for items that are durable, popular, and look high-end (of course, at a low price). If you’re buying materials for luxury homes, furniture auctions, craiglist, and local stores that specialize in selling lots of luxury furniture under retail stores, it’s your best bet. ..
Plants, coverings, decorations, furniture, you name it. I personally keep my inventory and now decorate it in a more traditional “warm Tuscan” style, or decorate it with a simple contemporary look with pop colors and abstract art. What’s fascinating depends on what’s stylish in your area, but for inspiration, visit a luxury resort or local luxury boutique near you. I will show you the trends!
B) Bins, lists, and methods
Make your life easier by avoiding the hassle of extra materials. When you purchase an item, create an inventory list that you need to sign off when the item is used and returned. By the way, this also helps to keep track of when some of your cute decorations disappear on their own! Bins make storage and removal easy and efficient.
Similarly, take a picture of the previously staged house. Especially if the team has someone who can perform staging that they think they are capable of. Show the photo and write “This is how we perform our rehab” and make a checklist of what they expect in each room and throughout (that is, fold the towels and put them on all towel racks). . Spray apple cinnamon spray all over, etc.). When you’re done, access the properties and evaluate your changes and improvements. Since then, the team has been assigned a “stager” and knows how to do it.
Imagine when you visit a new construction block, and they have a model house. “Ooooh” and “ahhhhs” come from the characteristics of the house, highlighted by a warm and cozy vignette. It makes you feel like you are walking into a nice home and creates an emotional connection as it has the potential to be your home.
So, personally, I like to use accessories such as “love” and “family” to show pictures of happy people around the house. Buying is emotional, so connecting to an “audience” through visual cues and scent sensations (think of the “Apple Cinnamon” scent) will make the right buyer fall in love with your property. Is more likely to do.
3) Perfect picture
Looking up MLS at the property, for example, there are 5 blurry photos that confuse me more than seeing a rehab house shot in a casual type like I booked to sell an old coffee table on Craigslist. There is not much to make.
It’s 2013, everyone. If your list agent or person selling your property doesn’t understand the importance of having beautiful photos to showcase your retail property online and in print, fire them. (Even if that person is you).The fact that you spent weeks / months, potentially tens of thousands to hundreds of thousands of dollars to rehabilitate your home, is probably paying a lot for your daily allowance. Hard money loan, And it’s amazing to me that they come out with a compact camera, take some shots and make commissions. Photos must be premium, as more than 80% of buyers buy homes online and social media capabilities are expanding.
Again, when is it important to hire professionals and DIY? When is it important to make more money! But seriously, if someone is struggling to come out every time and pay $ 100- $ 300 to take a gorgeous photo of your property, a DSLR camera and tripod (everything you need for under $ 1,000) Invest in (you can get) hire a professional photographer to come out and tell you or someone on your team to take good pictures. If you don’t build a lot of homes a year, it’s a good idea to hire a company that specializes in real estate tour photography and charges a reasonable price (and this is when you go to Craigslist and want to hire someone). No $ 50.00 – Become a Professional).
This is what I give to professionals who want to take their list photos or become a better conosuier when hiring a photographer:
A) Take a picture and look at the display. Answer me this: what do you see in this photo? If the answer is “I can see the floor” or “I can see a huge TV”, then I need to change the angle of the image and “explain” what I’m seeing to the viewer. You can say, “You can see a beautifully illuminated kitchen with lots of cabinets.” Perfect! This is a great photo!
B) The toilet seat is down, there is no glare, and unsightly things are cut out. This goes back to “What do you see here?” Your photos should be clean, clear and concise. If your backyard is annoying, or if you’re doing some more repairs, don’t forget to shoot the best features of this house. Show the picture what you want to see. Your hard work culminated in a single shot, not the body of a bathroom mirror wrist agent with lens flares for the head.
C) If you see this property online, why not check it out? I always tell people, it’s like an online date. You read someone’s profile and see what they are about, but you really check them out to see if they are cute, right? If so, you are interested in taking the next steps to try to go on a date. It’s really the same as your photo. Are they attractive, bright, focused and “show off” your best features? You want to intrigue your buyers enough to get them in the car and go on a “first date” with your beautiful home.
You love what you are doing, so don’t be afraid to add more passion to your rehab and fill your pockets! It’s the type of creativity, fun, and va-va boom that you might have lacked in your operation. Make more magic in your “rehab relationship” and tell us what it will be!
Are you using any of these techniques? What else do you do to connect buyers and your property faster?