Over the past two years, interest rates have increased significantly. Credit remains affordable because until then they were historically low and borrowing was therefore almost “free” for those with a good record. However many industry observers predict the rise will continue.
This is mechanically accompanied by a drop in the price of real estate. Owners who intend to sell an apartment or house therefore have every interest in doing so quickly, before this correction takes place on the market. To speed up a sale, a few techniques can be applied.
The Market Price Rather Than That Of The Seller
The first choice criterion for a buyer will of course be the price. Sellers often tend to offer an overestimated amount, hoping that the negotiation will result in the price hoped for because they are looking for a high added value or are emotionally attached to the home.
But these thoughts have little value compared to the reality of the market and the price risks discourage potential buyers. It is important to offer the property at a price at which it can be sold, and not at the price you would like to get from it.
Calling a professional like Minnesota Home Guys is the best way to get a fair estimate. We can also compare it to other properties sold recently. Don’t just look at other deals in the area. If they are still available, it may be precisely because the asking prices are too high.
It is important not to fixate on a price and to set a deadline before lowering it. If an offer remains on the market for too long, it indeed becomes suspect.
How To Promote Your Property?
If you attract visitors, your price is probably on point. But if despite this no proposal is made, this may mean that your accommodation contains off-putting elements. For several years, “home staging” has been considered a real selling point.
A few relatively modest investments compared to the price of a home can quickly encourage a sale. This may consist of minor repair or renovation work. The buyer will be able to see a financial saving, but also fewer worries in anticipation of his arrival. Being able to say that a room or installation “has just been redone” will always be a plus.
“Home staging” also involves a careful presentation that will highlight the strong points of your property. Here again, buying a few pieces of furniture will represent a relative investment compared to a quick and well-negotiated sale.
This doesn’t mean overloading your apartment or house with gadgets. On the contrary, it should be depersonalized so that the buyer can more easily imagine themselves in their future home.
Organize visits to highlight the strong points. If you have a good view, aim for a sunset or a beautiful day. If you have a south-facing garden, check the weather forecast, if you have a fireplace, light it.
Advertise
Beyond presentation, good communication is important. You can of course go through an agency or offer sites between individuals. Don’t neglect word of mouth like social media either. However, we should not go overboard either.
If the buyer comes across your ad too often, he risks at best believing you are in dire straits and negotiating harder, or at worst fearing a hidden defect.
Finally, we must not forget that even after a verbal agreement or a written compromise, a real estate sale remains a long process that takes several months. So try as much as possible to be up to date even before the visits in the documents that you will have to provide.
This will also reassure the buyer. For example, numerous diagnostics are necessary, as are the latest co-ownership minutes. Make sure that each step is followed with your notary, to avoid delaying the signature.
