Anonymous wrote: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?

Do you mean Vienna Austria? I have a connection there.

Anonymous wrote:OP, don't listen to the propaganda on here clearly from some bored real estate agents. If you do use a real estate agent, find the absolute best one to negotiate that the buyers will pay both commissions, and when that does happen please let us know. Maybe we'll all still be here in ten years, maybe not!

Actually that happens a lot in the online auction world of selling homes. Buyer pays all the commission. I bought a home from a foreclosure auction by RTC and buyers paid commission including me.

OP, don't listen to the propaganda on here clearly from some bored real estate agents. If you do use a real estate agent, find the absolute best one to negotiate that the buyers will pay both commissions, and when that does happen please let us know. Maybe we'll all still be here in ten years, maybe not!

Anonymous wrote:

Anonymous wrote:

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.

You are either a builder, builders buyer, or simply an ignorant

It's true that homes over 3m sit, especially those over 4m. Builders know this, it's why these homes are priced this high to account on spending a lot of time on the market. Eventually if this area runs out of deep pockets buyers there will be people prioritizing older homes as more affordable options to get to live near the homes they can never afford. If you have a tear down you have 2 markets: those wanting to demolish your home and build a shiny new mcMansion, and those wanting to get their foot in the door of an expensive neighborhood and don't mind a little fixer upper project with a possibility of building later.

When your house is already at the top of the market it's harder to sell. OP will be fine.

But there are new homes between $2-$2.5 million that sell much more quickly, even in North Arlington. Perhaps you scoff at those builders, or find those margins to be unsatisfactory to you, but other builders make them work. And I'm sure some sellers have developed expectations of how much their teardowns are worth that are no longer realistic.

Anonymous wrote:

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.

You are either a builder, builders buyer, or simply an ignorant

+1. No builder interested in a large, flat lot in North Arlington? This is just not credible, and it's a shame that people try to spread this nonsense.

Anonymous wrote:

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.

You are either a builder, builders buyer, or simply an ignorant

It's true that homes over 3m sit, especially those over 4m. Builders know this, it's why these homes are priced this high to account on spending a lot of time on the market. Eventually if this area runs out of deep pockets buyers there will be people prioritizing older homes as more affordable options to get to live near the homes they can never afford. If you have a tear down you have 2 markets: those wanting to demolish your home and build a shiny new mcMansion, and those wanting to get their foot in the door of an expensive neighborhood and don't mind a little fixer upper project with a possibility of building later.

When your house is already at the top of the market it's harder to sell. OP will be fine.

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.

You are either a builder, builders buyer, or simply an ignorant

Anonymous wrote:

Anonymous wrote:Premium tear down neighborhoods get spammed with requests to sell from builders, investors, and ppl wanting custom builds. Look in your mailbox if you got any solicitations or offers to sell your house.

Except those builders are going to try to take advantage of you. They are as bad as used car salesmen with their pitch and tactics.

It’s not always true. Depends on the area and how many older homes remain compared to $$$ new construction. They disclose the price they want to pay, and sometimes there is a realtor looking for a specific lot for their loaded client who wants to build a custom home. Sometimes there are families looking to buy a lot. Either way, whatever you do, if the area is highly desirable for tear down activity you will have no trouble selling an old home as-is and getting premium price. I top tear down areas (where most homes are already new construction and only a few old properties remain) none of these homes even stay on the market one week. And most are sold without being listed.

If the area has way more old homes and only a few new construction homes then it might be tougher and also more competition with nearby older homes.

Put a for sale sign out front. They vultures will descend.

Someone recently bought a decent house for a tear down for over a million on our street of the same acreage.

Anonymous wrote:Premium tear down neighborhoods get spammed with requests to sell from builders, investors, and ppl wanting custom builds. Look in your mailbox if you got any solicitations or offers to sell your house.

Except those builders are going to try to take advantage of you. They are as bad as used car salesmen with their pitch and tactics.

Premium tear down neighborhoods get spammed with requests to sell from builders, investors, and ppl wanting custom builds. Look in your mailbox if you got any solicitations or offers to sell your house.