Selling residential property comes down to presentation, promotion, and price. That’s sometimes easier said than done.
If your residential property management is struggling right now to move your property, the following tips and strategies could make the difference:
- Analyse your agent. It’s super important to have a great real estate agent, someone who knows how to negotiate and is an expert in the local real estate market. We don’t recommend trying to save money by listing with the cheapest real estate agent out there. When you do that, your home is more likely to stay on the market longer, and the ultimate sale price of your home could end up being less than impressive. That’s why you need a real estate agent who will truly know how to promote your property and give you tips to enhance the presentation of your home. They can also read the real estate market and help you figure out the best sale price.
- Is your marketing off target? Modern real estate advertising is centred around online real estate listings. If your property is best suited for a retired couple, you might not be reaching your target customer through online listings. And if your property is best suited for a busy professional, they are unlikely to notice a physical billboard or sign. That’s why you need to effectively promote your property and think about reaching your target audience. You could also share your listing on your social media platforms and ask your friends to share your listing as well, especially if your current strategies are not working well.
- Look at the numbers. Your property might be priced too high and scare your target buyers away. Prospective buyers usually limit their search to increments of $50,000 to $100,000, so we recommend dropping the price a little to attract an entirely new group of prospective buyers. You could also sell your home at an unusual price, something that doesn’t end in 0 or 9, to create intrigue and draw buyers to your property.
- Put it on the backburner. It might not be the best time to sell your real estate property. Rather than spending thousands on making improvements to your property, you might instead consider putting your sale on the back burner and putting off the sale for now. For example, look at the state of the real estate market. Is it a buyer’s market or a seller’s market? Is the local real estate market flooded with similar properties priced a little lower and looking better than your property? Has buyer confidence decreased due to factors that are beyond your control?
- Don’t be afraid to ask why. Few sellers bother to ask their real estate selling agents what is turning off potential buyers from purchasing their real estate property. How are you going to resolve your problems if you don’t know what they are? If you can’t change something, you can make the deal more enticing in other ways, like reducing the price.
We hope these tips help you in selling your real estate property at the best sale price!