SREI 0037 How to price your flip house to sell for top dollar with Aaron Hendon

Published: Jan. 27, 2017, 8:09 p.m.

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On this episode of House Flip Masters Holly is joined by guest Aaron Hendon. Aaron shares his secrets on finding selecting a realtor to be on your team or to work with you on your investments. Aaron is a Seattle realtor, real estate investor, author, educator, and speaker. Aaron is also the managing partner of Christine and Company, a Seattle magazine awarded 5-star real estate agency winning team the past five years, he is also this years individual rising star in Seattle real estate winner.\\xa0

Being a New York native Aaron finds that hustle is engrained in him that he uses to his advantage. Aaron graduated from art school and found himself waiting tables, and shortly after opening a bakery that he owned and operated for 9 years until he sold it. Aaron quotes author Daniel Pink saying that \\u2018to sell is human,\\u2019 as a business owner Aaron got into the sales business which ultimately lead him to real estate.\\xa0

Aaron is an advocate for education, teaching first time homebuyer classes, he wants people to be knowledgeable about the other side of real estate so that they are empowered to make better choices in their real estate decision. Aaron is in the process of writing a second book to help people learn about the real estate process and what happens on the other side of the equation.\\xa0

Holly asks Aaron when selecting a real estate agent what numbers do people normally focus on and what numbers should they focus on instead? Aaron says that people pick their realtor based on the number of units a realtor has sold or signs on homes being sold; a higher volume of units sold equates to a better agent. From the realtor\\u2019s perspective it looks great that they have sold a lot of houses but the number of homes sold does not tell you about the person\\u2019s performance or how much better they are than the next realtor. Aaron asks Holly what she looks for when she\\u2019s looking to buy a property - to maximize the bottom line in the shortest time possible. Aaron recognizes that this is important to a lot of flippers or investors and says that no one asks him how much over listing price he averages compared to the local market average; a question that you should be asking when selecting an agent. Aaron averages about 5% more than the local market average. When Holly asks how he does it Aaron says it\\u2019s all in his marketing plan, the way they set the price of the house, and not taking every listing. Any agent will take your home and price it at what you want, but not Aaron, if your home is not valued at what you want to list it at he will not take the listing because it is not going to sell.

Holly reminds listeners that a lot of time when a home is being sold, that home often has more value to the people that lived in it than what it is worth on the market. These people raised their children in \\xa0these homes, made memories, upgraded the flooring 10 years ago - these sellers are often offended or get their feelings hurt when they cannot get the price that they feel that they deserve. As a flipper Holly reminds her realtor that her feelings will not be hurt by the price the home is listed at or what needs to be fixed because she is in the business of making money and getting in and out of the flip quickly.\\xa0

When you select a realtor you need to have someone who is going to price aggressively and not overprice the home. You can get over your price when you have 4 or 5 bidders, but if you price too high people will not continue to look higher than what the home is originally priced at. To sell your home you need to be proactive and have a strategic plan in place to get the most people in and seeing the home to have a better outcome.

Holly and Aaron talk pricing strategy saying that you want a realtor that has come to you with the data; the market value and the trends of the homes selling in your area; they need to have the evidence because any realtor can say that they know the neighborhood but its they don\\u2019t have the ev'