Whether you’re new to the real estate market or are looking to get started by selling your first property, it’s really important to get to grips with how people perceive properties and the ways in which they’re discovered. After all, even if you agree to sell your property, how will you let people know and what will attract them to buy your property over others?
There are a number of factors that you can and can’t change, but understanding how to take advantage of them and play to your strengths can help make your property stand out and get sold faster. This will lead to smoother capital gains and will greatly improve your success in the real estate market.
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Understanding what your audience is looking for
Your property appeals to a certain kind of audience, and it’s your duty to figure out who they are! For instance, if your property is a high-rise apartment located in a busy city, then there’s a good chance that your buyers or tenants are going to be people who work in that city and have bustling lifestyles. They probably travel around a lot and they don’t spend as much time in the home as a family would. Chances are they’re single, or may have a partner, but they might not be married or have kids–especially if it’s a one-bedroom property.
As you can see, it’s a helpful and fun practice to think about the ideal tenant or buyer for your property. You have to put yourself in the shoes of others so you can see what they like or dislike about your property. This can take a bit of practice and not everyone has the experience or knowledge to pull this off. However, it’s never a bad idea to get started! Learning what other people see in your property and understanding their needs means that you can tweak your properties and add (or even more) things that would make it more appealing.
And just remember–even if you miss out on a potential sale, there are probably lots of other people who have the same search criteria. There are likely hundreds, if not thousands, of people looking for one-bedroom apartments in major cities, so it’s not like you’ll be struggling to find potential buyers. But with that said, it’s never a bad idea to consider how you can make your property more appealing to everyone!
Working with the right real estate agent will help a lot
We also can’t forget about the real estate agent that you work with. Unless you’re planning to list and sell your property yourself (which will take a lot of work) you’re probably going to be using some kind of real estate agent to help you. This isn’t a bad idea by any means, but it does mean that you’ll need to find one that has a good reputation.
There are a couple of things to consider when looking for someone to sell your property. Reputation is one thing, but you also have to consider how much commission they’re taking and also their experience. A lot of people are attracted to low commission fees, but this may result in a much worse experience for you as the owner of the property. Low commission fees don’t really mean much, but in the same vein, neither do high commission fees. You’re really just at the mercy of these estate agents, hoping that they’ll provide a good service. This is why looking at their reputation and reading reviews is such a great idea.
You could also speak with them in person. A lot of people tend to find it easier to gauge an estate agent’s capabilities if they first speak with them. Discuss the process, talk about the more technical aspects of selling a home, and use that interaction to gauge if they know what they’re doing and if they’re the right people to sell your home for you.
But if you’re willing to do it yourself, then there’s always the option of selling your property yourself. This is a multi-step process that you’ll need to manage by yourself for the most part. You’ll have to collect and request a lot of documentation, so don’t take this lightly! It’s usually a good idea to have legal assistance to ensure you’re doing things correctly. However, if you master this, then you could take advantage of much lower (or even zero) commission fees and complete control over the selling process.
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Tips to help you prepare your home for sale
So now that we’ve covered some of the more technical and behind-the-scenes aspects of selling a home, it’s time to talk about some practical things you can do.
A lot of people underestimate just how much of a difference a good-looking home can make. So here are a few things you should do around the property to make it more appealing.
Clean up the front and back yards
A lot of people forget that it’s not just the inside of the house that matters, but also the outside. It’s what people will see immediately when they come for a viewing, and it also affects how the public perceives that property. From cactus removal to gardening and landscaping, hire services (or do things yourself) to make the outside of your home look just as good as the inside! Failing to do this can put people off viewing your property before they’ve even walked through the front door.
Repair things around the home
You should also think about repairing things around the home and getting work done as quickly and as efficiently as possible. There’s nothing worse than a potential buyer coming in for a viewing, only to notice that lights don’t work, your appliances are broken, and the windows are letting in a big draft. Fix things up as soon as possible if you’re serious about investing in property. Don’t let your buyers discover that you haven’t put much work into the home, and don’t try to hide problems in your property as that’ll just lead to legal issues in the future.
Home staging can be really effective
Staging your home is essentially just arranging furniture in the property to highlight the features and give viewers and potential buyers an idea of what to expect. For instance, you could leave the TV on and put some books around to make a space look like it’s being lived in. You could place some random kitchenware around, such as appliances, to give people an idea of where they can keep their things. Giving little hints like this can really improve someone’s vision of your home, and it’ll give them ideas on how they can improve or use those spaces.
Photography makes a big difference
Lastly, don’t forget that taking flattering pictures and recording informative videos on your property can make a big difference. It helps people get interested in your property before they’ve seen it in person, and there are loads of unique technologies that we can use today such as 3D viewings. All of these new features can make it really convenient for someone to gauge if they want to engage further in discussions when looking at a property.
Selling your first home can be a daunting experience, but we think that there are plenty of ways to speed up the process and make it a lot simpler if you have the right knowledge.