Why not move your listings faster than your competition
That is the name of the game isn't it?
Actually it all comes down to KNOWING what it will cost to make the repairs in THIS home. If you have a "fixer" you are trying to sell and you have identified the cost to cure or make the necessary repairs then you have a salable home again.
No one wants to step into the unknown particularly a "first time home buyer" get your bank to cut loose with a little money to have us do a "feasibility analysis" which will identify the cost to make the repairs
1) to bring this home up to the Minimum Property Standards and
2) a second feasibility analysis to bring this this home to a "typical" upgraded condition.
By doing these two feasibility analysis I can assure you that your "hard to sell" homes will be easier to sell, will sell faster, and the buyers will have more information about YOUR listing than any of the other asset managers properties and therefore Yours sell faster.
I know most of you are selling 500-1,000 homes per year but as greedy as you can be, wouldn't you like to sell another 250-500 on top of that? By the way, you would be doing your employer a service by getting the "hard to sell" properties off their books faster as well. Everyone wins !
Who can do a feasibility analysis? That is easy, every FHA 203k consultant can do them. They don't all want to do them but FHA says if you are a consultant you MUST offer that service.
What does it cost for this service? I can't speak for other consultants on this issue but we have a set fee of $300 for the first unit on a project & $50 each for units 2-4. If you order both at the same time, a bare bones feasibility for a "first time home buyer" who may be on a very tight budget then that is all you need.
Then if you order the "fully updated" feasibility at the same time we will do both of them for a flat $500 for the two for a SFR plus $75 for units 2-4. YOU save your client $200.
Some of the agents who handle lots of REOs for asset managers are finding that even if they pay the fee they move many more houses and that is what they are supposed to do.