Do you own some property in a war zone? Is it located in a not so optimal location?
Say you have a property that you are thinking of buying in a war zone. Have you done the appraisal? If not, you need to get an appraisal. So you have gotten the appraisal and it is awful. The price is so low!
But you buy it anyway! So you have bought it, and you have put half of the amount you bought it for back into the house. In fact you almost have completely redone the whole property. And guess what. The house is beautiful except that it is sitting right across the street from some crack dealers. Now you are left trying to figure out how to get rid of this property. And let me guess, you usually sell houses yourself. You just want to be done with it. You usually sell houses yourself but now you are considering going with a realtor. And you don’t really know the first thing about choosing the right realtor
Maybe you are considering some people who have some property listed in that area.
What should you do?
I would choose one that has a reputation for selling houses not just listing them. I would choose one who knows that area. I would want to have a conversation with him or her about getting very aggressive and I would pay them more than their 6 or 7% if they sell it within the first 30-days.
Now you may be thinking that it sounds good, but how does that work? If you are going to do that how do you structure it up? Maybe you are wondering what kind of incentives you put on there and if you find your own buyer, do you have a buyout agreement? Questions questions!
Forget about all that nonsense. Go ahead and list it. And tell them you will pay 10% if they get you a contract within the first 30 days. Drop to 8% in the second 30 days. Then down to 6% in the next 30 and if they don’t have it sold after that, they don’t need to worry about it after ninety as that is the length of the listing. 90 days. If they don’t sell it in 90 days, they won’t sell it in 180 days. In part two we’ll talk about some other options that might work for you.
