If you own a property and are trying to sell, there is nothing more frustrating than getting no viewings, traction and offers on your home.
You might be thinking of reasons why this is happening. Is it the market? The banks? The agents? Or a combination of all?
Property markets go through different cycles. You might have heard of the sellers’ market and the buyers’ market. In a sellers’ market, the inventory of properties is lower and demand from buyers is higher. And of course, in a buyers’ market, we have plenty of inventory and the demand of buyers is lower.
So the first thing you want to recognize is, what market are we in today? And how will this change in the future?
Understanding this is important. If you do, you will not panic every time the property market goes down and likewise, be overly excited when it swings up. You will need to anticipate such things as the normal motions of an economic cycle.
Besides the cycle, there are also things you control in the likelihood of selling your home. These things are easy to forget when you try to sell a home. Many people think it is all about location. Slowly, this trend is going out of the market. These days and in the current market, it will be more on Attention – Convenience – Price. In a cluttered market and confusing price positioning, the buyers are waiting for more certainty.
With this in mind, here are a few key considerations to help you make your home stand out amongst the competition.
Your home doesn’t have a competitive pricing
When there is a lot of inventory in the market, you need to create a competitive advantage.
If 90% of the homes are not selling, you should be in the 10% highlights that attract current buyers.
As a seller, even though you may feel your property is different from all other properties, the buyers don’t care. Buyers look at the price, and money always talks. So to attract them in a current market you must show an attractive and competitive price to at least get the attention of your buyers.
The attention will at least make potential buyers look at the specifics of your property. Once they find it appealing, they will definitely proceed with a viewing.
Your real estate agent is not putting enough effort into marketing the property
Real estate agents are a key player in selling your home.
The question is, are they putting enough resources to sell your home? When was the last time you got some feedback from them?
If a real estate agent is disconnected from the property, it’s better to find a new one. Make sure as a seller you discuss a plan with the agent on ‘’How are we going to sell?’’
What is their marketing plan? Who are they going to target? And the most important question, do they feel that you have a competitive advantage with the current price?
Make sure your agent is fully confident in selling the home. If not, don’t bother even listing it with him. He will not put much focus on a property he doesn’t believe will sell.
The property is a mess
Apologies for being so blunt… But this is not going to happen if your property has just been attacked by a tornado.
When you see many pictures of properties for sale on portals, websites, and other platforms, you will be amazed that the real estate agent was even agreeing to take any pictures.
Remember this phrase, ‘’You never get a second chance to make a good first impression.’’
This works for people who are meeting people and also for people meeting properties. Together with the real estate agent, you have to make sure the first impression is extraordinary.
Potential buyers looking at your property have to be blown away by the cleanliness, setup, and beauty of it. This is really important, especially in a competitive market.
Make sure before you take some pictures you clean everything. Remove all the mess, dishes, and personal items.
And a final tip, hire a professional photographer. Yes, it does make a big difference!
If you want to know some easy to use tricks to get more attention to your property and a higher chance to sell your home, check out the upcoming release of part 2 of this article.
This article is contributed by; Coach Taco Heidinga, Co- Founder of Propcoach.