Getting the Warts Out of the Way, aka
Setting Buyer Expectations Appropriately
“ATTN REHABBERS: THIS NEEDS WORK; NOT FOR THE TIMID. SOLD IN “AS IS” CONDITION.”
–excerpt, MLS Listing for 4-plex in Minneapolis’ Wedge neighborhood
You can certainly overdo it, but I actually endorse what this listing agent is up to: namely, announcing (literally in ALL CAPS) that this investment property is in rough condition.
While the interior photos and suspiciously low price already suggest that, at least in my opinion, it’s better to attract fewer but serious prospective Buyers than to overhype a property just to drive traffic that inevitably will leave feeling disappointed (if not lied to).
Corollary: the way to sell property is to exceed Buyer’s expectations, not dash them.
Call it the “quality > quantity” approach.
P.S.: I certainly prefer this tack to the more standard “Rehab Opportunity! Don’t Miss Out” marketing verbiage.
