Wholesale Real Estate Tips – From Staging a House to Closing

As an investor you’ll know that there is a lot involved in making a sale on your wholesale real estate property. It can be more difficult with the economy slow. The market is down and houses are for sale everywhere. You’ll be able to take advantage of all of these potential sales with a good list of buyers, some legwork and a few basic house flipping tips.Beyond your time and effort in wholesale real estate, there are a few little salesman tips you can use to ensure that the homeowner sells with you or that the buyer wants your wholesale real estate now!Stage the House to Make it Sell!
Besides getting the contracts and documents signed, you’ll have stage the house for a house flip. This isn’t necessary for wholesale real estate, but those looking to flip houses will need to show the property to buyers who are would rather live in the house instead of using it as an investment.Stock the House with Appliances-Even Used OnesYou’ll make the house more attractive to buyers if it comes with its own appliances included. They don’t have to be brand new, they just have to work.Tip: Most homeowners prefer electric appliances, though any kind of appliance is better than none.Choose Neutral Colors for the WallsBuyers won’t want to move into a home with the same old white washed walls and brown carpeting that they’ve seen in all the other houses. Plus, it’s more work for them to have to repaint walls they can’t stand looking at. Pick out different colors for your walls, but keep them neutral so they also won’t crowd the senses of people looking at your home.Tip: Warm colors make a room seem cozy; while cool colors make a room seem larger.Don’t Go Overboard with DecorationsA big mistake wholesale real estate investors make when staging a house is going overboard with decoration and furniture. An already vacant property needs just a little staging because the buyer wants to visualize how the home will look when they move their stuff into it. A table here, a chair there, some flowers and some curtains is all you really need.Tip: Limit the amount of effort invested in staging an empty house.The Psychology of Closing a Deal
As with any wholesale real estate investment, you’ll need to close the deal. This can mean convincing the homeowners to sign with you or convincing the buyer that you’ve got a really great property. Here are a few quick wholesaling tips and sales methods you can use to help close that deal.Using Empathy:
You’ll find that this is a great closing method to use on homeowners. You discuss the situation with the homeowner and try to develop some empathy. Perhaps this house is an inheritance from a relative that recently died. To be able to understand what the homeowners are going through and develop that needed connection is important when buying and selling houses.Having them Fill out an Order Form:
Sometimes the buyer or homeowner you are talking with may be hesitant to start filling out paper work. You can turn over the form to the homeowner or buyer and just have them fill in a few spaces, like their name or address. You can say that you’ll fill out the rest of the information for them. Then during the course of the conversation just ask them those pertinent bits of information and fill in the form as you go.Pretending the Deal isn’t for the Buyer:
You’ll also find that this is a great closing method to use on buyers. You’ll create competitive feelings by letting the buyer know that you’ve got a few other buyers lined up who would be interested in the property. You can also act as if you are agreeing with the buyer should they start coming up with reasons that they can’t buy the house at the moment. Say something like, ‘This property is a bit out of the way, though I am getting a lot of interest,’ or ‘It sure does sound like you’ve got a lot of houses at the moment, perhaps you can pick up something else from me when you’re running low on properties.’Some wholesale real estate deals just seem to fall into your lap. This isn’t always the case and most property sales require a little work and access to a few great tips. Make the sale by learning some of these little wholesale tricks for getting properties out of your portfolio.