Any time you are doing work on a property, the timing in which you show it is very important. If you rush the process and show it too quickly before any work is done, you run the risk of leaving realtors and buyers with a bad impression. If you wait too long to show it, you could miss out on valuable weeks or months that could have been saved by starting the process earlier. There is a very delicate balance of timing when listing a property. Like most things in life, there is a viable compromise that can be applied.
While buyers and realtors may be impressed with the amount of work you have done, they don’t really need to know about it. You may think that showing a before and after picture will give credibility to your work, but in some cases it may have the opposite effect. Some buyers may stay clear of a property that was a disaster zone before you started working. If you focus more on the finished product instead of the process, buyers will find it more appealing. Remember, real estate is a people business, learn what your buyers are accustomed to.
Your selling process should start as soon as you take ownership. Instead of posting pictures, you can use social media and the Internet to tease the property. You can put items like “Fully renovated property coming soon” or other teaser headings to get the word out. You don’t need to post any pictures at this time, but you should be ready to answer responses or comments as to when the house will be done or even where it is located. The more you update and interact during this time, the more people will be intrigued and start to gain interest when the property is finally finished.
Some investors like to show what progress they have made while others will wait until everything is done right. If you opt to show updates, make sure you show the house in its best light with after pictures. If you want to wait until all the work is done, be patient and wait the extra week or two until every minute detail is finished and there is nothing more you want done. You may even have a curious party show up to the property unannounced from time to time. You may not like it, but if they show enough interest to take a ride to the property, they are definitely interested or represent someone that is. As long as you make it clear that this is not the finished product and take their contact information, it is not a bad thing.
If you are advertising the property as completely remodeled or fully updated, you should know that everyone will scrutinize every inch of the house. Buyers will look for a house that is perfect and not require any updates for years to come. If you take the time to make sure your work is representative of your promotion, you should have a happy buyer. It doesn’t matter how you do it or what method you use, as long as you start advertising your property as soon as you start working on it. The longer you wait the harder it will be to find a buyer.