You have been thinking of selling a home you have been holding onto for a while. After unsuccessfully trying to get a renter, you realize that selling this particular piece of real estate would provide you with the funding you need to reposition yourself within your local real estate market. Although you have spent a considerable amount of time calculating a fair market selling price for this asset in your portfolio, you have begun to harbor some concerns about trying to move this property in a down market.
A concern creeping into the back of your mind is that in order to move this property in a reasonable amount of time, you may have to lower the price, which means you may be forced to incur a loss. However, in your attempts to keep a positive outlook on the situation, you remind yourself that this piece of real estate is a good deal at the price you have fixed it at, being slightly below its currently appraised market value. Consequently, you start to think that in order to move this property in a timely manner, you may need to think outside the box and try some creative marketing methods to get what you need out of this deal.
Thinking Outside The Box
In the past, you have often simply listed the properties you wanted to sell with a real estate dealer. Though things usually tended in your favor, this time the market has turned against the trend, making it tough for sellers to get what their homes are worth. In an attempt to save some money, you decide to forego the real estate dealer approach this time and sell the home yourself, but were a little uncertain as to how to grab the attention of potential buyers quickly. One approach to rapidly finding potential buyers is to market the home for sale on Craigslist, since marketing to people in your local area online is often a quick way to generate interest. Not only does this provide a seller with access to regular buyers, but it also makes it possible for them to reach out to investors in their area at the same time. Another way to generate leads to potential buyers is to market your home on investor lists. Often investor lists not only can help you find a buyer, but they also help you locate a buyer with experience in closing a real estate deal without needing to rely on the hassle of going through a real estate dealer. However, when it comes to getting the price you are aiming to get, according to Kahan O’Neill Realty, experienced negotiations are key.
Sweetening The Sales Pitch
When marketing through alternative avenues, it typically helps to get your property noticed if you take the time to highlight benefits that the buyer stands to receive from the purchase of a home. Often marketing is more about the big picture than simply the product being pushed. Sometimes the important factor is the location of the home, is it near a good school or within walking distance to a grocery store. Other times the buyer has kids and wants to make sure they are moving into a safe neighborhood, for example. The more positive details you ad to your sales pitch and the more perks you can present to a potential buyer, the easier it is to convince a buyer that paying your price, even in a down market, may still translate to a great deal for them too.