The one repetitive stage that comes in the realty market all over the world, like a constant time check is the ‘slow market’. The time when the sellers and buyers club their damages trails comes when the sellers decline to put homes in the property market due to the short demand making the buyers continue their search. What was once a buyer’s market, in these scenarios becomes nonentity’s market.
Now it’s time for you, reading this article, to break the general rules of the game and sell your house when the market is slow.
Here is how to up your game and make a great deal on that house of yours –
Challenge the Property Market
It is that one thing that the sellers will never like to do or, at best, will only do if nothing works. But the time calls for you to be practical. While the naysayers might argue that once you undercut your house, you will force the neighborhood to lower the prices of their house too.
But ignoring the passerby’s, you need to look at the past records – the property prices at the flourished market stage are definitely not something same to the current situation’s property prices. So the need of the hour is to be practical and put your house 15 to 30% lower than the other houses in your locality. This will definitely get you positive and fast translatable attention from the homebuyers.
Throw Some Perks
Irrespective you like it or are not comfortable with it; there is grave competition in the property market particularly when the market is down and everyone is desperately waiting for their property to sell.
Now in order to make yours the one house, which stands out from the others, you will need to take extra and even amazing efforts. There are two ways you can go about it – either spend money into giving the buyers something extra, like a car, or free house painting or give them some benefits that can they use and appreciate at the time of buying the property itself. For example – propose to pay attorney’s fees and your help in getting the paper work done or just be open to buyers’ requirements like when they ask for the kitchen to be made modular.
Raise Your House Standard
In a slow and down market, the duty of making a house gorgeous and to make it stand out from the other houses in the street or even the city falls on the you, the seller. To make it easier and save some efforts on your end, it is advised to find reliable home stagers or interior decorators operating in your city and take their help in making your house appear straight out of a magazine, making the buyers see that it is not a bad idea to pay even a little more for a house such as yours.
While appointing a home stager will definitely make things a lot easier, but it is not mandatory to take their help. You can always handle the décor responsibility yourself; it is not as difficult as it normally sounds. You just need to change the room color, arrange the furniture, remove or add new show pieces to bring out the beauty of your place.
Draft a Promotion Plan
When the market is down, the need to formulate an advertising plan to promote your house becomes very crucial. It will benefit you immensely if your property is visible on every leading publication and on the top property portals online. So make sure that you have some nice pictures of your house ready to be shared with the world of prospects.
While these tips will elevate the process of finding the right buyer for your house, when the property market that is slow and is hitting a low, you should be comfortable to adjust with both price and extra efforts that the situation and market condition calls for. And for the time being, you should be mentally and financially prepared to take agents’ in marketing your house better.
Author Bio:
Currently associated with 99acres.com, Tripti writes on real estate market and trends, both national and global. With a professional expertise in introducing readers to how real estate market functions, she strives to keep her readers updated with every what’s what of the turbulent market. Apart from writing what keeps her going is petting dogs, and a thick chocolate milk shake. Get to know about Indian real estate market and trends follow G+.