A lucky few will have the opportunity to own several pieces of real estate. Maybe it’s inherited, maybe it was won in the lottery, maybe it was bought fair and square. But however many you may own – a person only sleeps in one bed, and the decision to sell off an old property, one that you don’t occupy seems rather logical. The decision may be hard if the property has symbolic value to you, though sometimes it doesn’t pay to keep attached to a certain place.
Therein lies the problem – selling an old property is not as nearly as easy as selling a new one. How to compete in a very dynamic market with almost no experience? How to attract customers and secure the best possible deal? Well, one key thing is to make the whole estate more appealing, and here’s how you can do it.
Warmth and Senses
On a very basic level – people enjoy places that feel “homey”, comfortable, places that look like they are occupied rather than empty. This has to do with what people expect of homes. When thinking of “old property”, one can visualize two things – either a worn out and spooky-looking house, or a well-maintained piece with some history. Guess which one people are more interested in? A home that has the feeling of being ready to occupy at a moment’s notice also has certain smells. So pay attention that potential customers will be more likely to consider your offer if they sense a pleasant smell, such as citrus. This can be easily achieved by simply spraying something a short while before they come, but it is even better if you do something more – like bake a pie and let that smell fill the property.
To sell just about anything you need a proper marketing strategy. Be it displaying goods in a storefront or putting up real estate for sale, presentation is very important. Not only will potential customers notice you better, but it may turn out to be a selling point in itself. This is not to say that whatever you own doesn’t have value in itself – but people are more likely to notice it if you invest in some marketing. For starters, using social media to get your ad across is a start, but only a start. Real estate agencies are best suited for these kinds of jobs as they may have experienced sellers negotiating a better price than you could have hoped for. It takes both time and dedication to sell old property, not something to be done “on the side”.
Investing in Crucial Places
If your property has some serious flaws – you will have a hard time selling it. This applies both to structural and infrastructural ones. For example, if what you have is already in ruins – a potential buyer will probably only be interested in the land, not in whatever is still standing. This is OK, as selling an empty lot in a market where land prices are constantly increasing is very interesting for investors. On the other hand – if you can save, it is better to do so. While an empty lot does give investors the freedom to build whatever they want, most buyers are looking for something to settle in as soon as possible, something that is constructively sound and only needs a bit of refurbishing. If your old property has fixable flaws it is only logical to take care of that.
A leaking roof is a very likely place to start. If you are of the DIY kind then you know what to do, and for the rest of you – move broken or tilted tiles to expose the underlying construction, replace any wooden pieces that are beginning to rot, and place back the tiles. Another easy thing to do would be to repaint parts of the house, such as the porch, or the living room. This rather small investment can give off a very nice impression and significantly increase your chances of selling the place quickly.
Appeal isn’t only about looks. It is a status, it is a feeling of having something worth having. To make any property more appealing means doing more than just cosmetics. Putting out a good word for it, making a story, presenting it as a lifestyle in itself. That, and also fixing what needs to be fixed in order for it to be usable. The basic five senses may be your best first impression, though it is a general notion that gets the job done.