It’s hard to sell a house, but it’s harder to find potential buyers in bad neighborhood. But even if you live in a bad location you can still sell your house for a profit with the current market conditions. Real estate investors can find a great house in an entire neighborhood that isn’t attractive, but a lower price isn’t the only way to get the right buyer to pay for the property. Here are seven tips on how to sell property in a bad neighborhood that will make sure you get a sale.
#1: Focus on the Features
You’ll need to show potential buyers a well-staged home when you host open houses . Give your buyers the most direct route to the property and give them directions with supermarkets, parks, or public places on the way.
You can also tell visitors where the subway or bus station is to help them get around. Loud neighbors should be made aware that an interested party is here, and try to get them to quiet down. Your can even let them in on some extra money during the process by asking them to tell others about your investment. If they can guarantee you a new owner, they get a percentage on closing costs with your competitive price.
#2: Get to know first-time home buyers
Talking to first-time home buyers can be easy since they’re open to different offers, and you might be the first real estate investor they even get to talk to. First-timers are probably not looking for a nice neighborhood but a decent house. They’re more likely to look at houses that fit their budget and take the current market trends into consideration.
#3: Make sure you price the house right
Knowing how to price property in a bad neighborhood is a real estate strategy you need to learn to maximize profits. For a better idea of a price range, you’ll need to pull home selling prices from your neighborhood. If you want to entice buyers, you can also offer repair discounts as a last resort to get them to invest in your location. You’ll be selling your house to people with tight budgets and who are okay with problematic neighbors, so don’t spend too much on repairs. If you’ve already made repairs, highlight those features as the unique selling point of the sale, considering that the location is bad.
#4: Get your home staged and enhance curb appeal
If you live in a less desirable place, you’ll have to make some adjustments. Curb appeal works like real estate magic when it comes to selling a house. You can clean the front yard, power wash the outside, paint the exterior, and get rid of those things that make the house look shabby compared to the rest of the market.
Once a buyer glances at the house, he or she should feel welcome, especially with a professional like you at the helm. There’s no way a buyer will want a drab-looking home; first impressions last.
#5: Hold an open house
Staging an open house is an attractive route you can take so buyers can see the property up close. It makes buyers want to buy the property since they know they’re not the only ones. Show them the good areas around the neighborhood and assure them that the area does have redeeming qualities that are worth investing in.
#6: Disclose everything
If you can see the “problem areas” of your house, take a picture of them. Put it in the description of your listing, too. When you’re disclosing the issues of the house, make sure you balance it out with its perks. Show the neighbor the view from your living room or the backyard oasis you’ve created if the neighbor has a car on cinderblocks next door.
#7: Hire the right agent
You might want to rethink selling the house by yourself. You’ll have a harder time selling your home if the neighborhood is rough. Hire a real estate agent who’s sold homes in your area before.
They might charge a commission, but hiring a real estate agent may be worth the investment if you don’t have the time to sell the home yourself.
Give Us a Call About Internet Marketing for Real Estate
Real estate consultants are skilled in digital marketing, negotiation, and other aspects that can land you a sale. They also know the neighborhood and the best way to appeal to prospective buyers. With REI Toolbox’s digital marketing strategy for real estate investors, you can maximize your opportunities and conversions of homebuyers and sellers alike. To meet your marketing goals, we tailor our services to your business’ needs.
Our online marketing services are customized for real estate companies, from our SEO to website development. We aim to generate leads for your business and then provide value so that your clients stay with you.
Whether you need help with SEO for your real estate company or just have any questions about building your brand online, give us a call at (775) 451-2322.
