Competitive Real Estate Market Tips to Stand Out from the Rest (VIDEO)
With the growing use of applications and the Internet more and more homebuyers are heading the easy route. Most sellers have a hard time selling their property because the price they perceived for their property is way too high in what the market is willing to pay for it.
Doing your homework or researching online sometimes might surprise you that your property might cost more than you expected or sometimes will educate you not to expect too much. If you do not like the price the market wants to pay better hold tight to your property or have it developed into a cash flow producing asset.
The real estate market is getting tougher and tougher each day. The Local Records Office in Norwalk, CA created a list of six ways to stand out from the competition with ease.
1. Who Do You Want to Sell To?
Focus on a specific group of homebuyers you want to sell to, As an owner of the property and probably a resident of the area in which the property is located, you already have an idea of the types and what kind of people that might be interested to buy your property. You can see who are your neighbors and what they do for a living.
2. Pictures Will Get the Buyers Attention
You want to show buyers that your property is worth buying and the best way to do it is to take great pictures. A picture paints a thousand words. Make the pictures of your property worth more than the price you are offering. For example, your house cost $3 Million dollars makes it look like $5 Million in pictures.
You can search on YouTube guides on how to take good real estate photographs. Also, I recommend you hire a good photographer especially if you want your photos well done.
3. The Location is What Sells
Location is the first thing homebuyers search for, if you don’t have the right location you don’t have anything. Make your location even more desirable if it is already desirable, and desirable if it isn’t by pinpointing in your location description all nearest landmarks with a 2-kilometer radius such as schools, churches, markets, malls, government, and private offices. Explain how to get to the nearest train, bus, jeepney, or tricycle terminal.
Mention travel time or how long will it take from your property to the nearest commercial or business centers, airports, seaports, and other places of interest for your potential market. Location will literally make or break a deal.
4. Price Negotiation
Price negotiation is another reason why sellers will buy from you and not the competition. Be open to different payment options. Most first-time property sellers want cash for their property. Most of them get cash but they get less because of price negotiations. Having flexible payment terms can be a bargaining chip during price negotiation. Price negation is key for families with children.
5. How Are Buyers Going to Find You?
There are people who are right now looking to buy your property on the Internet and make sure that they can find you.
You can do this by posting your property for sale in Classified Ads. Remember that only owners, their legal representatives, and licensed real estate brokers, and their companies are allowed by law to sell property online. Think outside the box by hiring a good SEO professional to do all your website jobs.
6. Think Ahead
Think ahead to be prepared for anything that comes your way. Identify potential problems and concerns that your potential buyer might notice about your property so that you can prepare countermeasures.
You must be able to identify all objections that might arise and know how to handle those objections. If you are too emotional to do it yourself maybe because of the sentimental value of the land have a professional real estate broker handle it for you. Something you just can’t handle on your own.