What to Do When Your Neighbour Lists Their Home for Less

The housing market is a roller coaster, with the current situation property prices have soared high and there is less demand in the real estate sector of Sri Lanka due to the price increase and the interest rates of loans.

But if you are a smart seller, you can still try out some tactics that could create a buzz around your property. Atleast get some much needed attention so that when the time is right in the market conditions, you would be able to sell faster due to the awareness and interest created in advance.

PRICING LOWER THAN THE MARKET

First Price your home lower than the current market price and even though it sounds risky, it is sure to grab the attendtion of potential buyers. Site visits to view the property by interested parties and agents would be bit higher in the initial stages. You could use this as a tool to very slowly increase the offers. Of course this tactic works only in certain markets. So do check with similar properties around your area and ask for advice from professional agents too.

SET A DEADLINE FOR OFFERS

Inform and create much awareness on the deadline for offers. But only do this when you are priced correctly. A deadline will put pressure on really interested parties to get their final offers.

FOCUS ON THE FIRST IMPRESSION

Make your home desirable to those interested parties by attending to any minor repairs, cleaning and tidying the house and maybe a new paint and some décor. See if its possible to replace the old windows and doors with new good looking ones. A bit of landscaping too can go a long way.

TAKE DIFFERENT PHOTOS WITH DIFFERENT VIEWS

A picture is worth a thousand words, so make the them count. Low angle photography, Medium shots and Dutch angle etc could play a major role specially with corner shots and provided the photos are crisp and clear.

LIST ON ALL THE LEADING REAL ESTATE LISTING WEBSITES

Do not miss on listing on all the real estate listing websites that already drive major traffic daily towards their sites. Being on all the major sites really help you to get the best attention.

HIRE AN AGENT TRUSTED BY MANY

Always get a professional help with highly trusted parties in the market because they are popular due to the good deals they had done between buyers and sellers.

FUEL THE INTEREST AHEAD OF TIME

Start creating positive rumors about the sale of your home well ahead of time. It helps to create a little frenzy because people want good stuff at good price.

Whether you are a first time seller or a repeater, selling your home is not an easy process and takes a toll on the emotional and physical facets. During this period home owners tend to go through an emotional roller coaster which could at times lead to mistakes.

Here are some of the mistakes house owners should be aware of so they could handle situations carefully.

OVER PRICING:

One of the most crucial factor is that you have to be aware of the market trend, especially when it comes to house prices. Owners have to price it at the correct market rate to be able to sell it within a reasonable timeframe. Over pricing could make your house sit on the market longer which in return could have a negative impact on the minds of buyers when trying to put an offer.

SELLING AT THE WRONG TIME:

It is very important to sell your house at the right time to get the right price. Several factors affect this facet. Some homes that were once in a good neighborhood suffered later when the neighborhood got affected badly due to various reasons such as economic condition and natural disasters.

SKIMPING ON REPAIRS:

Even a tiny damage can put off buyers. When potential buyers walkthrough your home and find faulty doorknobs, wall cracks and leaky faucets, they will be more concerned whether you are ignoring any bigger issues too.

LETTING EMOTIONS TO INTERFERE

To sell your house in a successful manner, keep your emotion aside and don’t let it interfere with rational facts. Keep a cool head during the sales process. Accept the fact that there might be few issues highlighted by the prospective buyers when inspecting your house. Do not let requests for any minor repair derail the entire deal.

FAILING TO PREP & STAGE

Keeping the home tidy, hygiene, de-cluttered and elegant is a must when trying to sell your house. First impressions matter a lot and keeping things nice and tidy helps when negotiating the price.

TAKING PROFESSIONAL PHOTOS

It is essential to take good looking, clear and bright photos of your home’s interior and exterior highlighting the features when posting online such as listing websites. Majority of the buyers search online for properties.

FORGETTING THE CLOSING COSTS

When selling the house do not forget to factor in the additional costs you might incur such as property taxes, any agent commissions, advertising costs and Attorney’s fees. Be aware of these linked costs when fixing the selling price so you can get the desired profit margin.