Sure, investing in real estate is an excellent idea. Property value usually goes up through the years. However, it’s not always a good idea to sell your house when the time isn’t right. There are times when a sale by owner cannot be effected due to the challenging market. But, of course, you can still find a way to get through this situation. Here’s what you have to do.
Improve the house
The first step is to improve the property. Make sure it’s irresistible, and potential buyers have no choice but to close the deal. Start with the outdoor space. When these buyers arrive, they must feel good about the property. Clean your lawn and keep things organised. You must also have a fantastic living room. If you still reside in the property, tidy things up if a prospective buyer is coming. Hide everything that might prevent people from buying.
Consider having built in wardrobes. More people feel enticed to buy a property if it has customised furniture. Of course, you might have to invest in it, but it’s worth the price. Besides, you can use it while waiting for someone to buy your place.
Identify other potential improvements in your house that might boost the property’s value. However, be careful not to have unnecessary changes. They won’t do anything to increase your property’s worth. For instance, a swimming pool is expensive, but it’s not necessarily what potential buyers want.
Deal with repair issues
Another reason buyers say no is if there are too many repair issues to deal with. Some might be too serious and require an excessive amount to solve the problem. Plumbing and electrical problems are among them. You should instead fix them and not let these buyers deal with them. You also can’t try to hide them, hoping that no one will see. It doesn’t matter how amazing the property is, if you let these buyers deal with repair problems, they might say no.
Find an outstanding feature
Your property isn’t the only option in the area. Other houses in the neighbourhood look great and might be more affordable. You should give people a reason to choose your property. Start by having an outstanding feature. It can be a solar panel for electricity. You can also expand the number of bedrooms or remodel the kitchen. When potential buyers enter your house, they will notice these features. Use them as a selling point. The best part is boosting the property value and earning more despite a challenging market.
Work with a real estate agent
You can’t go through the process alone whern you want to sell your house. You need an expert to be there for you. Real estate agents usually don’t ask for service fees. Instead, they will get a commission if you close the deal. Until then, you have nothing to worry about. The good thing about working with real estate agents is they have connections. They can ask potential buyers to look at your property and give it a shot. They can also talk to these people and make them want to close the deal.
Offer a competitive price
You can’t expect to maximise profits when the economy isn’t doing well. Be aware of what’s going on around you before deciding the price. Stay competitive if you want people to consider your house. Be willing to lower your potential profit if it means selling your property soon. Ask your real estate agent to help you decide the price. Several factors come into play in determining the amount. You may even ask an expert to survey your house and decide on the price tag. You can’t pull an arbitrary number out of thin air.
Help the buyers envision a new property
Try to make the house as impersonal as possible. It allows prospective buyers to envision themselves living in the place. You can’t expect them to buy if it looks like it’s yours and not a place that anyone can own. Others even repaint their houses using neutral colours to appear even more impersonal. It’s like a blank canvas. You want buyers to feel that anything is possible.
Boost the curb appeal
Again, the first thing people will see is what attracts them to buy the property. Improve the curb appeal and give buyers a reason to get inside and explore more. Try painting the front door. Plant flowers and wash the windows. Remove spiderwebs and debris. You can also fix the broken mailboxes. Well-manicured lawns include having pretty trees and shrubs, as they make the place even more enticing.
Offer a sweeter deal
Offering a good deal isn’t only about the cost. Perhaps, you can retain the same price but give a transferrable warranty. You may also ask for a lower down payment. Be willing to negotiate and throw a few things to entice these potential buyers.
Maximise social media
The good thing about selling your house these days is you don’t have to rely on traditional methods. Sure, open houses work. Standard listings also help. The difference is that you have social media at your disposal. Make the most of these tools. Advertise across different platforms. Post pictures and provide details regarding the property for sale. If interested buyers want more information, they can ask you. Redirect them to a website or send an email that provides more details. Be willing to interact with these people.
Rent a storage unit
If you reside in the house, your possessions are still there. You want these buyers to see your things. However, they might feel turned off. The solution is to rent a storage unit. You will find it easier to tidy up your place if you own a storage unit for your things. It might be pricey, but it would be worth it. Short-term leases are available if you believe you can sell the house quickly.
Remove the “for sale” sign after 90 days
You should only have the “for sale” sign up for 90 days. Remove it once it’s over and no one has bought your house yet. You don’t want people to think that no one feels interested in buying your property. Return the sign after two or three weeks. Otherwise, you emphasise how challenging it is to sell your property, and people should look at other choices. It also speaks volumes about how hard it is to make transactions with you.
Be flexible
Realise that you will never have everything your way in this challenging market. Therefore, flexibility is necessary. You don’t have to give in to what these potential buyers want all the time. As long as you open the doors for negotiations, it’s good enough. Try meeting them halfway and prove that the initial selling price isn’t final. It will also help spread how easy it is to work with you. If you’re not lucky enough to find a buyer when you want to sell your house, you will find one soon.
Be patient since it’s never easy closing a deal in this market. It doesn’t mean you won’t find anyone at all. But, eventually, you will see someone willing to give it a shot. If you are yet to sell after 90 days, take a different approach. Meet with your agent and discuss ways to improve your strategies. Don’t invest in anything else until you know the deal gets closed soon.
Image: https://pixabay.com/photos/cottage-trees-path-trail-house-2955582/
