5 Ways To Make Your House Stand Out – Part 1 of 2
December 16, 2014
What sets us apart from our competition? Most real estate investors would never share their secrets with the public…but we’re different! We want to share our wealth of knowledge to help make you more successful and profitable when it comes to your real estate investment(s). Over the next two weeks, I’ll be sharing with you “Five Ways to Make Your House Stand Out.” This week, we’ll address number one and number two from our list:
#1. Be different from your competitors:
Over the last twelve months, our company has flipped close to one hundred homes in the Chicago-area. Over 90% of those flips received “above ARV” offers! In today’s market, that’s rare. I’m sure you’re wondering “how” we were able to do that. The primary reason is because we rehabilitate our “flips” much differently than our competitors by providing the buyer what they want rather than giving ourselves what we want. Every buyer has an mental picture and checklist of exactly the type of house that they want. Most of those ideas come from a TV show, something they saw on the internet, or an idea they found in a magazine article. However, one of the biggest downfalls of investors is ignoring what a potential buyer wants and offer them the cliche “beige paint, white trim, beige interior paint, beige tile, brown carpet, beige tile, and brown cabinets.” Ask yourself: how many times have you watched those popular design shows on cable and saw celebrity real estate investors using the same-old “beige-everything” approach? I’d be willing to bet you could, at best, count them all on one-hand. It’s not rocket science! Make your investment stand-out by giving the potential buyer what they want instead of what you want or is the least expensive. It needs to look like a custom designed home rather than a home designed by a contractor or narrow-minded investor!
#2. How does the potential buyer perceive you?
Most real estate investors are perceived as just that…”investors.” Their houses look like average investor projects and the investor talks like every other investor talks. Consequently, they’re receiving low-ball offers and usually struggle to get an offer that’s even remotely close to full asking price. In our general investment area, we’re known as “Ann Lee Interiors,” which is a custom home design company. Our buyers perceive us as custom home designers rather than flippers/investors wanting to earn a quick buck and move onto the next investment without putting any thought or pride into their flip. Our buyers see our homes as ones that they are eager and excited to purchase rather than a house that they are just “agreeing” to buy. This is how we increase our market perception in our investment areas. So again, ask yourself this: “How does my potential customer perceive me? Do they perceive me as a ‘flipper’ or as a ‘custom home designer’?”
Next week, we’ll list number three through number five. Have a strong week!
