So you’ve done painstakingly detailed research on the real estate market, and you see that home sale transactions are progressing slowly. However, when you need to sell, the quicker this can be dealt with, the better.
Thankfully, properties move in various market types, and there are tactics you can use to have yours moved in the right direction.
Use a (USP) Unique Selling Point
If your property looks the same as others in your area, it’s going to be hard to allure potential buyers. By using beautiful landscapes, a modern exterior kitchen, or elegant decor, you might have more to offer than other houses on the block. Ensure these things are prominently featured in your promotional materials and listings.
This suggestion is only beneficial if such features are already in your home. Don’t have them built for the sake of selling the property for more money.
Maintain the same price while offering a bargain
Investopedia provides some strong ideas for sales terms that attract buyers. The site encourages sellers to provide buyers with a credit of several thousand dollars that can be used towards closing costs. Alternatively, sellers can offer to pay for closing costs completely. By offering such bonuses, the properties will get more attention from potential buyers looking for homes like yours.
When the market is down, buyers will seek out a deal, so try to make buyers feel like they’ve found one. You can also provide a transferable home warranty, which may be as much as $400. This 1-year policy will cover appliance failures in the event the fridge or AC goes on the fritz. Based on the policy, other house gadgets and appliances might be covered also. Potential buyers will take comfort in knowing that they will be protected against such issues, which could make your house more appealing than a similar home nearby. To achieve this, you must be able to cover these extras financially.
Provide a virtual tour
At times, 2D pictures aren’t doing a property justice. Think about presenting the house online with a virtual tour after the property has been staged. This will let potential buyers visualize themselves living in your home without setting foot in it physically. A quality virtual tour can bring a buyer to the property already eager to make an offer.
Lower your expectations
When the market is down, many people opt to lower the price of their property. This is most prominent when the home is bundled in with others being sold at a reduced price.
The truth is that, no matter what you do properly, whether the house is in pristine shape, has an abundance of amenities, or flexible negotiation terms, you will probably end up reducing the price. You can bypass plenty of troubles and frustration, though.
Don’t look overly eager to sell
Desperation scares potential buyers away. Such behavior suggests that the buyer wants to unload the property for a negative reason. If you reduce the price, try not to call too much attention to it. Sellers shouldn’t promote that they are motivated to sell. Your house becomes less alluring when you’re too eager to sell it.
Speak with a real estate investor
Most people take comfort in working with a real estate investor while knowing that they won’t get as much income from the sale of the property.
That said, in down market, you could end up losing less money by taking the small hit and selling fast. You won’t have to deal with the stress that comes with selling a home. You can bypass the repair expenses that come with it. And best of all, you get a quick cash infusion that you can use right away to progress towards the next stage of your life.
The most difficult aspect of a down market is the unknown. Will the house remain on the market for months or sell quickly? Collaborating with a real estate investor bypasses that uncertainty, particularly when you’re working with a trustworthy one. Your cash can be delivered within 24 hours of the sale. You’ll be aware of when the house sells and what you’ll get for it. You can move on with your life by closing more quickly.