Should you classify your expired listing as a fixer upper? If you do, are you doomed to keep it on the market longer than normal? While there are several questions that may pop into your mind with an expired listing and a home that needs a little more TLC, the good news is that it is possible to market an expired listing as a fixer upper.

Outdated Fixtures

“Fixer uppers” can range from a bare bones home to a home that hasn’t been updated in a while. Depending on your target audience, a Brooklyn/Manhattan expired listing can be marketed as a fixer upper due to outdated fixtures. The kitchen cabinets, lighting, and even paint colors can deem a home in need of some work through the eyes of some. This type of fixer upper is the “easiest” to flip due to less invasive work. When marketing your expired listing, note the “minimal” changes needed.

Know Your Network

Prior to purchasing and beginning renovations, it is important to already have a base team of knowledgeable contractors in your network. Ideally, you would bring one along with you to the open house or showing in order to quickly estimate the amount of repairs and upgrades necessary. Additionally, having a designer come and cast a vision for the space will help ensure the repairs will modernize the home to adequately compete with new builds. During showings, be willing to offer contacts to help the buyer expand their network.

Know Your Audience

Those who are interested and willing to take on a fixer upper are a rare breed. They are typically not scared of a little work and ready to rise up to the challenge. Tap into your network of contractors to see if they know any buyers looking for a fixer upper, and also make sure to use correct keywords in your MLS listing online and search the proper channels.

*ExpLiMO provides high quality leads on a daily basis and offers a unique opportunity for Manhattan and Brooklyn real estate agents to prospect for expired listing leads and grow their business exponentially.