October 18, 2006
Holy Crap – Changing the Signs Really Worked!
That’s right – I’ve gotten a significantly larger number of inquiries about my flip house since I replaced the lackluster yard sign from the flat fee broker with a simple red “For Sale by Owner” sign. The addition of a “<-- House for Sale” arrow on the corner probably had an impact as well. While I was averaging 0 – 1 calls per day before the sign change, I received two calls yesterday and seven calls today under the new signage! Unfortunately, four of today’s callers were only interested in two-family properties (they all remarked that the house looks big from the outside, which I find peculiar because it looks very modest-sized to me), but the other three sounded very interested and will be viewing the property within the next week. I’m keeping my fingers crossed that this new pace of interest keeps up, but I’m guessing things will slow down again when all the regular local drivers get used to the new signs.
The corner sign was a good idea. Well done, keep doing whatever you gotta do to sell this home.
V:
Interesting stuff. I would be interested after all is said and done on this flip to get your final analysis, such as:
– Whether you would do another in this market
– IF so, what criteria and strategies would change
– How long it took to sell (Days on Market) and close
– Contractor stories
etc.
(I am in South NJ and considering doing my first flip as well.)
Thanks
Great stuff! I love how changing a couple of simple things can change your results so much.
I don’t know if you were doing this or not, but you may want to start writing down the names of the people who are calling with their numbers for future houses you might find or sell. I always ask for permission to make those calls again later and have never had anyone respond negatively. Just a simple way to get that buyers list built up.
Good luck!
You know what else works? Burying a statue of St. Joseph in your front lawn.
http://www.miami.com/mld/miamiherald/business/15624012.htm
He’s the patron saint of real estate and he has magic powers.