Do you have a house you think only an investor would love? You do have other options!
A house one person calls “ugly” might be the gem that another person wants. The only time we use the word “ugly” in selling a house is when we hold “Ugly Opens.” We use this term to get people in the door, then we show them the potential and highlight the beauty of the property.
The following are options we review with sellers to identify what method gives them the most equity when selling a house others might deem “ugly.”
- Sell As-Is
- Target Market: Investor or buyer who is looking to renovate a house to make their own.
- Selling Strategy: Create a digital design to show the potential of the space along with detailed budget for achieving the design. This includes any mechanical updates needed.
- Marketing Strategy:Marketing Strategy:
- Place on Private Collection before hitting market
- Coming Soon – advertising the “Ugly Open”
- Place on MLS with links to digital design
- Hold an “Ugly Open” – this is an open house that’s focused on the potential of a property. It’s called an “Ugly Open” because they’re generally held after we’ve demo’d a property and before we’ve started the renovation. These can also be held on a property that is being sold “as-is” to draw attention. In this Open House, we present the digital design of the house and the cost that our renovation company would charge to complete the renovation.
- Do Minimal Updates and Sell
- Target Market: General Market
- Selling Strategy: Create clean-out and basic paint refresh to attract more buyers.
- Marketing Strategy:
- Private Collection – posted on our off-market platform before hitting the market
- Coming Soon on the MLS
- Open House and/or Broker Open
- Full Renovation and Sell – Flip In Place
- Target Market: Buyers who want a completely updated home and are willing to pay for a move-in ready home.
- Selling Strategy: Create design plan and budget to improve property to increase after repair value (ARV).
- Marketing Strategy – All about building hype around the house.
- Market the house as it is being renovated
- Offer a warranty on the work done
- Hold an “Ugly Open” showing the public the plans for the house
- Hold a “Reveal Open” showing the public the results of the house
Most important is to know that you have options when selling a house that needs a little work.
If you have a house that might benefit from one of these selling options, give us a call or text today!
