Best Way to Sell House As-Is in Vienna

[Anonymous]

Hi,

We have a property on 0.25 acres in Vienna that we are looking to sell as-is. The property is currently uninhabitable, although the structure is fine, so it will likely be a teardown or flip. What is the best way to sell a property like that? Are there specific builders, real estate agents, investors, etc. that we should reach out to?

[Anonymous]

Get an agent, list it, and sell as-is.

You will always get the best rate through market competition.

[Anonymous]

As with most real estate, location, location, location is most important. In Vienna, you shouldn't have too much trouble selling this house to either a builder or investor. Just get a real estate agent familiar with Vienna. Interview them first and find out what their marketing plan is for your place - do they have relationships with builders and investors who might be interested that they would go to first, for example.

[Anonymous]

As a Vienna realtor who deals with these types of transactions - the best advice is just reach out to builders directly. A lot of them have someone that works for them as a licensed real estate agent and will save you that 3-2.5% commission which would be so useless for something like this

[Anonymous]

Anonymous wrote:As a Vienna realtor who deals with these types of transactions - the best advice is just reach out to builders directly. A lot of them have someone that works for them as a licensed real estate agent and will save you that 3-2.5% commission which would be so useless for something like this

Yep. This is the way.

[Anonymous]

Anonymous wrote:As a Vienna realtor who deals with these types of transactions - the best advice is just reach out to builders directly. A lot of them have someone that works for them as a licensed real estate agent and will save you that 3-2.5% commission which would be so useless for something like this

3-2.5% commission Spoken like a true realtor.

Don't pay that. Especially not now in today's real estate world. Seller is not responsible for buyer's agent fee anyways.

Either you can take their advice and see what offers you get from builders, or, list it on the market as someone else posted and see what competition brings. Normally, open competition will result in the best offer.

[Anonymous]

A builder is going to offer you you way less in a direct sale than you would get competing on the open market with buyers who are willing to renovate it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:As a Vienna realtor who deals with these types of transactions - the best advice is just reach out to builders directly. A lot of them have someone that works for them as a licensed real estate agent and will save you that 3-2.5% commission which would be so useless for something like this

3-2.5% commission Spoken like a true realtor.

Don't pay that. Especially not now in today's real estate world. Seller is not responsible for buyer's agent fee anyways.

Either you can take their advice and see what offers you get from builders, or, list it on the market as someone else posted and see what competition brings. Normally, open competition will result in the best offer.

That's what listing agents are typically paid right now - 2.5% or 3%. And goes to show how much you know - the seller pays both listing agent and buyers agent commissions.

[Anonymous]

Anonymous wrote:A builder is going to offer you you way less in a direct sale than you would get competing on the open market with buyers who are willing to renovate it.

Not always. Not in Vienna[u].

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As a Vienna realtor who deals with these types of transactions - the best advice is just reach out to builders directly. A lot of them have someone that works for them as a licensed real estate agent and will save you that 3-2.5% commission which would be so useless for something like this

3-2.5% commission Spoken like a true realtor.

Don't pay that. Especially not now in today's real estate world. Seller is not responsible for buyer's agent fee anyways.

Either you can take their advice and see what offers you get from builders, or, list it on the market as someone else posted and see what competition brings. Normally, open competition will result in the best offer.

That's what listing agents are typically paid right now - 2.5% or 3%. And goes to show how much you know - the seller pays both listing agent and buyers agent commissions.

Ahh, poor realtor not liking the fact that people can negotiate. There is no requirement that a seller has to pay 2.5-3% of listing fee to their listing agent or that they have to pay the buyer's agent at all. Nice try though. The cartel practices of the past are cracking.

[Anonymous]

Anonymous wrote:As a Vienna realtor who deals with these types of transactions - the best advice is just reach out to builders directly. A lot of them have someone that works for them as a licensed real estate agent and will save you that 3-2.5% commission which would be so useless for something like this

NO. You save the commission by using a flat fee or discount agent. You need the MLS to maximize competition.

[Anonymous]

Anonymous wrote:

Anonymous wrote:As a Vienna realtor who deals with these types of transactions - the best advice is just reach out to builders directly. A lot of them have someone that works for them as a licensed real estate agent and will save you that 3-2.5% commission which would be so useless for something like this

NO. You save the commission by using a flat fee or discount agent. You need the MLS to maximize competition.

What competition in this market? We reached out to builders 2 months ago on our N Arlington teardown on a large lot (for Arlington). No weird issues with the lot or anything - just a normal, large flat lot. No one was interested. Talked to agents who said it wouldn’t do well on the open market because it needs a lot of $$ and buyers at this price point aren’t buying right now.

In this market I’d focus on GETTING an offer vs maximizing competition. Sound similar, but very different strategies.

[Anonymous]

Anonymous wrote:

Anonymous wrote:As a Vienna realtor who deals with these types of transactions - the best advice is just reach out to builders directly. A lot of them have someone that works for them as a licensed real estate agent and will save you that 3-2.5% commission which would be so useless for something like this

Yep. This is the way.

Op, please DO NOT take this route. All builders are competing for buildable land and your best route is to take advantage of the situation. Get a reputable local RE agent (any office along Maple Ave) and list it. You will be very pleased.

[Anonymous]

A discount brokerage will get it into MLS. Then the builders (and anyone who wants the lot for their own family) will be competing and seller will get the best price.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As a Vienna realtor who deals with these types of transactions - the best advice is just reach out to builders directly. A lot of them have someone that works for them as a licensed real estate agent and will save you that 3-2.5% commission which would be so useless for something like this

NO. You save the commission by using a flat fee or discount agent. You need the MLS to maximize competition.

What competition in this market? We reached out to builders 2 months ago on our N Arlington teardown on a large lot (for Arlington). No weird issues with the lot or anything - just a normal, large flat lot. No one was interested. Talked to agents who said it wouldn’t do well on the open market because it needs a lot of $$ and buyers at this price point aren’t buying right now.

In this market I’d focus on GETTING an offer vs maximizing competition. Sound similar, but very different strategies.

This seems strange to me. Teardowns in North Arlington are selling easily right now (unless they are on a busy road or are close to a highway). Either your price expectation is unrealistic, or you're a perfect example of why putting it on the MLS is necessary as opposed to just shopping it around to builders.