Real estate agents and professional flippers are a profitable team. Flippers are continuously searching for old homes for sale to fix and flip. They want to market and sell it as quickly as possible. A savvy real estate agent can maximize this relationship to enjoy the comfort of a steady flow of commission checks. Discover how to market houses to professional flippers and encourage them to list with you.
Negotiators By Nature
Professional flippers are negotiators by nature. They make money by finding homes, buying them fast, and fixing them to sell right away. Skilled real estate agents are also master negotiators. A flipper will question the value of paying commissions to a real estate agent. Know your worth and how to sell it. Real estate agents know the neighborhood, including locals and business owners. As a result, often real estate agents are the first to know when a property will be going on the market. Smart flippers put in offers before properties even reach MLS because they get the inside scoop – from a real estate pro. Getting a jump on competitive buyers is invaluable to a flipper.
Instant Access to Homes
Old homes are often owned by cautious seniors or become available when an older adult dies. Their survivors might live out of state, work long hours, or could still be grieving their loss. And real estate agents are often asked to show the houses on their behalf. The sellers want to make sure the house is safe, and they know when people are coming to see it. They prefer to put it in the hands of a real estate professional who screens and keeps track of potential buyers. Flippers will never get a chance to see these homes without the assistance of a real estate agent who has the listing and keys. Be ready to show the home at a moment’s notice. Time is money for flippers, and they will move on to the next house if they have to wait.
Build a Powerful Team
Flippers have attorneys, accountants, and a team of contractors who are on-call to fix houses. Real estate agents also have a group of engineers, inspectors, bankers, attorneys, and marketers. Together, a real estate pro and flipper can build a powerful team. A well-oiled team moves the process along from buying an old house for sale to selling it in just a couple of months. Flippers will instantly recognize the value of having a real estate agent handle the countless details of buying and selling the home. And the less flippers have to focus on these aspects, the more houses they can flip, fix, and sell. Everyone is a winner.
Knowing the Numbers Game
Time magazine reports an increasing number of flippers are losing money because they don’t fully understand the numbers. A team that knows the numbers is invaluable to flippers. A seasoned real estate agent knows the numbers associated with buying and selling like nobody else. A real estate pro has constant access to market values and comparable sales in the area. As a result, a real estate agent knows the bottom line when it comes to making an offer on a home. Flippers are ahead of the game by making a realistic offer the sellers accept, avoiding the time-consuming stress of a bidding war. Conversely, a real estate agent recognizes the listing price a flipper needs to get to make the sale worthwhile. All flippers need to do is tally the cost of renovations necessary to get the right price when they sell it.
Access to MLS and Marketing Tools
Flippers who try to be real estate agents and marketers are wasting time and losing profits. A real estate agent has the knowledge and experience to handle the whole process successfully. Remind flippers about your access to MLS and a variety of marketing tools. Encourage them to think of the time and money it takes to invest in these tools on their own. Hiring a real estate agent is a “one and done” deal. When flippers fix the house and are ready to sell, they just put into a real estate agent’s hands. The agent will market the home enthusiastically and negotiate to get the highest selling price. In the meantime, the flipper can start looking for the next old house for sale to fix and sell.
Prevent Burn Out
Flipping houses is profitable but exhausting. It takes long hours to buy a house, fix it, and make it ready to sell. Some homes are more challenging than others when flippers need to get permits and handle other legalities to repair them. Partnering with a real estate agent helps prevent burn out. Instead of taking weeks to recover, a flipper can go on vacation and be ready for the next project in a couple of weeks. And that means everyone earns money.
Often real estate agents market old homes for sale to millennial buyers and these are excellent deals. But remember the value of selling them to flippers, who will also be listing them soon. Creating a meaningful relationship with a flipper can become an ongoing source of income for an agent. And if a flipper refers you to other flippers, the income possibilities can be incredible.