The state of the real estate market might explain why your property is not selling, but there could be other reasons too. In a seller’s market, buyers will overlook some things, but in a buyer’s market (where there are fewer buyers and more property listings) buyers will be more critical and selective. That is why home improvement is important if you want to secure a property sale.
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When selling a house, you do not want the property to sit in the market for months. If your property stays in the market the listing will eventually become stale and the property sale may never happen. Even if you do find a potential buyer who is willing to overpay, they may struggle to find a bank to give them a home loan on an overpriced property (unless they are paying with cash).
If your real estate agent recommends you mend a broken window, or paint a wall, or fix those bathroom taps, then take their advice. If they suggest you lower your asking price as it’s not realistic in the current real estate climate, then take their advice.
First impressions count, always. When you are selling a house, you don’t want to present it in a state of disrepair. Even if a buyer overlooks some of the disrepair, they might want to knock off a portion of your asking price.
Photographs are a vital selling tool in the property market and it’s important to stage your home to achieve the best results. The internet and technology have made it easy to showcase your full house including an aerial view of the home and neighbourhood.
Buyers usually view more than one home and if you are not willing to accommodate them, they will quickly lose interest. Another important note to mention is that homeowners should not be around during a showing as it can make potential buyers feel uncomfortable.
“Strike while the iron is hot” is especially true when it comes to securing a property sale. If potential buyers are in front of your house and call the agent asking to view it. Grab your pet and leave. It could result in a property sale that very afternoon.
Nothing is more off-putting than unruly pets, especially for people who do not like animals. Even pet lovers will find it distracting when they come to view your home and they are distracted by dogs or cats. Entering a property where a dog is barking is distressing for both the animal and the visitors.
Don’t cut corners when preparing your home for a property sale. A buyer will quickly spot bubbly paint and realise that it’s hiding the underlying problem of mould. Rather, have the problem area repaired properly before painting it.
Whether you are selling a house or planning to buy, visit Seeff’s Home Story blog for more property and home improvement tips.