The slow property market is affecting everyone alike. It might be the case that you have a property that you’re desperately waiting to sell but no one is coming forward for the same.
But apart from the general real estate market condition, there might be a number of other factors that may be affecting the sale of your property. These can be a poorly planned advertising campaign, incompetent property agents or irrelevant market planning.
To get you out of this fuss, here are a few actionable strategies that can get you a great deal and increase the chances of letting go of your property for a healthy sum!
Focus on the Selling Points
It’s a common practice among home sellers that they try to renovate the home to make it look more attractive and lucrative to the buyers.
But that doesn’t always work out. Many a time, buyers won’t be interested in a new paint job, rather they might be looking for a bigger porch or a trendy bedroom.
These selling points can be finalized upon by surveying the properties that have sold for good in your locality. Usually, there’s buyer interest involved in this, but inspiration can be taken from selling properties.
It can be anything from a tiled roof to a fenced lawn, anything that makes your property desirable is worth the effort.
Spend Resourcefully on Advertising
Advertising your property on various online websites and in the local market is a tedious process. It’s hard to figure what media will turn out the best for you.
So, you need to make it widespread and aesthetic at the same time. Go for a professional photographer rather than taking pictures of the property yourself. If budget allows, you can even record a virtual tour of your property.
These advanced modes of advertising create a solid impression on the audience and increase your chances of finding the right buyer. Don’t forget to target your advertisement wisely.
Price your Property Precisely
Pricing is one of the biggest factors and this might be the reason for no luck so far. People tend to over-evaluate their property when they initially put it on sale in the market. This seems like a profitable measure but it might actually be affecting buyer interest, if your neighbouring properties are far cheaper than yours.
Alternatively, after an year and a half of failed efforts, sellers decrease the price so much that even interested parties get doubtful about the deal. Hence, both of these things have to avoided.
Read your market accurately and then set a price on your property. Keep in profitable yet competitive.
Consider your Property Agent
If you are in touch with a property agent, it may now be the time to consider the decision.
Half of the times, an incompetent property agent is the root cause of a stagnant property. If they’re not working around collecting leads and discussing your property with prospects, what good are they?
This is why, you should work with an agent who has some sort of trustable attribute about them. Like a successful track record or government quality rating like the ISO standard.
It’s not surprising that most of the big pocket deals are carried out with the help of professional real estate agents only.
We’re an established property consultancy with offices in Mumbai, Pune and Goa. Our years of successful deals and an everlasting consumer trust helped us bag the ISO 9001 rating that speaks for our name.