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Hey Everyone!

I have a property under contract and this is the first one I’m facing issues moving smoothly, and I wanted to share what I did and the difficulties I’m facing in case anyone have ideas or suggestions. It is a single-family house in Pittsburgh on Warrington Ave.  The house itself is a great fix and flip opportunity and it’s selling at a low entry point (mid five-figures), however, I have received some feedback from some of my buyers that the area around the house isn’t the hottest (that is Allentown, Pittsburgh). Down below are KPIs and things I have done to market this property so far: 

  • # Days marketed on InvestorLift: 20 days
  • # views on InvestorLift: 64 views
  • # Days marketed on social media (FB & IG): 22 days
  • # clicks & views on FB Marketplace: 760
  • # emails sent regarding this property: 96
  • MANY Phone calls made (some through God Mode)
  • # Inquiries through private channels:  <10
  • # offers received: 3 (it wasn’t about the price, but they didn’t make sense in terms of structure)
  • # walkthroughs: 1
  • Price was dropped as of 10/24/2023 and new emails were sent though InvestorLift to notify buyers of the price drop
  • A video advertising the property was posted yesterday on IG and today on FB with all relative information and pictures. 

I wanted to see if anyone had a suggestion or an idea to sell this property before my contract ends. 

Dear Ahmed ElTir ,

We've consulted with our InvestorLift team members and identified three key reasons why properties may not attract offers:

  1. Market Alignment: Is your property priced in line with current market rates per square foot? Adjusting to market conditions can significantly increase interest.

  2. Lead Response Time: The odds of contacting a lead within 5 minutes versus 30 minutes drop by 100 times! In fact, from just 5 minutes to 10 minutes, the odds decrease by 5 times. Refer to this study for more information on this statistic.

  3. Sufficient Collateral: Enhance your listing with ample pictures (you need to have at least 50 pictures attached to the property) and videos to showcase your property's best features. This visual appeal can be a deciding factor for potential buyers.

By addressing these areas, you're likely to see a marked improvement in interest for your property.

Did you find these tips helpful? We’d love your feedback! Just respond to this message, and we've got you covered.

Best regards,
Irina Melnikova
Support manager

Hi Irina,

 

Thank you for your insight and help, I appreciate it! I have sold this property as of last week actually, so I’m glad that worked out. I’m interested in the study you mentioned regarding lead response time, would you have a link of this study to share? 

Hi Ahmed ElTir,

I'm glad to hear that you're interested in this study.
It's truly valuable information for building communications.
You can read about it by following this link.

Best regards,
Irina Melnikova
Support manager

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