PUTING A PROPERTY FOR SALE REQUIRES STRATEGIES TO ACHIEVE SELLING IT AT THE BEST PRICE AND IN THE LOWEST TIME. HERE WE GIVE YOU FOUR KEYS.
When you decide to put your property for sale, this becomes one more product in the market, so it is important to take into account the 4 P's in order to sell it at the best price and in the shortest time.
The first step is to work on the presentation of the property, because you are about to enter a beauty contest which will win the property that has the most attractions at the lowest cost.
The buyers visit all the available properties in the market according to their requirements and compare their attractiveness, state of conservation, the project, the amenities, the location and, of course, the price.
Therefore, you must perform the relevant maintenance such as painting the interior, the exterior, pruning the garden, repairing leaks, fallen doors, wood in poor condition, etcétra. The more details to repair detect the buyer prospect in the property, the lower the price you want to pay for it.
To know the possibilities that your house has to win the contest, you need to know the rest of the participants, that is, you must know your competition in the same category: what other properties have, their amenities, advantages, disadvantages and their price . For this, you must have the information of all the houses available in the market in similar areas. Defining the commercial value of a property correctly will make it sell faster.
A house that takes more than 6 months in promotion and does not sell, is because it surely has a price outside the market.
To fix the price of a property, it is important to bear in mind that the price is not set by the owner based on the amount of money he or she needs to obtain, nor can it be fixed 'by the eyes of a good landlord'. The price of a property must be determined from a Comparative Market Study (ECM) that includes information on properties in promotion, those sold and not sold with characteristics and in areas similar to those of your property.
This exercise is the same as the prospective buyers will do unconsciously and thus make the decision of the winning house of the contest.
The market changes constantly due to various factors that influence the value of real estate, so it must be constantly updated and analyzed. If we set a price outside the market to our house, this will only help to sell the other houses.
There are only two reasons why a property does not sell:
- For an out-of-market price
- For a bad promotion. So the fourth P is just promotion.
Proper promotion consists of giving the nail with the medium where you can get the prospective buyers according to the product you want to sell.
There are different means through which you can promote properties according to their specific characteristics. It is proven that 92% of buyers use electronic means and real estate portals, such as Vivanuncios, to know the offer that exists in the market. Hence, it is very important to know how to write the advertisement of a house for sale on the internet.
Also, there are specialized magazines and newspapers that reach different types of buyers. The sign also captures a significant percentage of buyers, but the key is not in the captured prospective buyers, but in the way a person qualifies their needs, desires and fears. From this, we can develop the best strategy to achieve closure.
Other aspects to consider
Equally important is to know the legal situation of the property, the Income Tax (ISR) that is generated by the sale, to know if it is possible to exempt it, to know the way to process a bank loan for the buyer and expedite it if necessary.
Are you prepared to take into account all these points and achieve the sale of your property in the shortest time and at the best price? Do you have the time to investigate the most effective means, look for prospective buyers and manage the negotiation in your favor? Honestly answer these questions to know if that is possible or if you would feel calmer to have the support of a real estate professional to develop a special plan to promote your home and commit to protect your heritage and personal safety.
We are grateful for this collaboration to Reyna Verónica Juárez León, president of AMPI Sección Villahermosa.
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(619) 270 5446