If you want to make flipping houses easier and start selling your homes for more, then you may want to take some notes from some real estate agents who have been selling their own properties.
The statistics show that real estate agents selling their own homes average a 3% higher sales price. When you take into consideration that the are not normally paying any commission on this sale the spread is even bigger, ranging from 3-9% more in profits. So how are they doing it, and what can you learn and add to your real estate education to help you make more money on all the real estate investing deals you do?
Of course, regardless of your strategy, making big profits from real estate investing all starts with buying right. Real estate agents can be a good source for properties, but they sometimes also cherry pick the best deals for themselves too, so have other sources for finding deals for flipping houses too.
For the sellers they represent real estate agents act as a source of feedback as they deal with many buyers every month and can give an unbiased opinion on the home and how to make it more appealing or point out which features should be highlighted. So make sure you get some feedback on your properties too, whether it is consulting an agent or just from friends or other real estate investors.
Real estate agents have a deep understanding of how to price a home. So brush up on your own real estate education and learn how to price your real estate investing deals better. There is quite a bit of strategy that can go into it and when you raise or lower prices.
When it comes to accepting offers, the data suggests that when selling their own homes real estate agents tend to hold out a little longer and demand a higher price. Their average listing time is about 10 days more than for other homes. They may not be as motivated by a 3% commission of an extra 3% higher selling price for someone else. However, when you are putting it all in your own pocket it can make a big difference to your bottom line, so don’t always just jump on the first offer you get and watch your real estate investing profits rise.
