Selling a home in a slow market is exceptionally challenging. Are you trusted with this herculean task by your client? It may give you sleepless nights because no matter whatever idea you use, including shelling the price or Facebook marketing, nothing works for a slow market.
This post has 8 unique ways to help you sell a home or a property that is otherwise difficult to sell.
8 Tips to Sell a Property in a Difficult Market
These are the 12 ways to work out a deal and finally mark your challenging property as sold! All or some of them will defiantly work for you!
1. Create a Single Property Website
A complex property to sell will not move by mentioning it on multiple listing websites. Single property websites are effective tools to move these properties as they provide an exclusive platform. You may need to make various single property websites if you have multiple slow-moving listings. But this way, you will get quick results.
2. Distribute Flyers
You may discard this method tagging it as old school and assuming that buyers look for properties online only. But you are missing out on the fact that if someone is desperately searching for property, they will look everywhere for it. So don’t forget to distribute flyers at events and pin them on the community board. It might cut a deal for you.
3. Post Listing on Free & Popular Pages
As mentioned in the previous pointer, a buyer doesn’t limit the search and looks everywhere, hoping to find a suitable property. Hence, apart from uploading your listing on paid listing pages like Zillow and Trulia, cover the free platforms like Craigslist and Facebook as well. Millions of users visit these sites every day, so don’t underestimate them.
4. Offer Referral Rewards
You can offer rewards on social media platforms and personally. On social media, ask users to share the listing. Offer a gift card draw to those who share it. You can optimize the reward program by adding a quiz contest. On a personal level, incentivize your friends with cash rewards if they are successful in selling the home or property that is difficult to sell.
5. Keep a Social Media Open House
The pandemic is over, but people are still reluctant to visit crowded places. But you can always show them the listing on social media. Make a home tour video on your phone and upload it for the potential buyers to see. They can reach out to you for the property visit if they like the virtual tour.
6. Give Something Extra to the Buyer
Clubbing a deal that offers something extra with the home also helps in selling such homes. The best example is to provide a fully furnished home that is ready to move in. Buyers spend a crazy amount of time and money on furnishing a new home. This kind of incentive will attract their attention as it practically helps them a lot.
7. Showcase Multiple Virtual Staging
The actual staging of a home or property is expensive and has limitations. You can stage a property in a certain way only. But virtual staging allows you to stage the same property in multiple ways. And that too in nominal prices! In this way, you can appeal to buyers with different choices and preferences by designing a single property differently.
8. Approach the Real Estate Investors
Real estate investors are not inclined towards multi-family buildings only. You can also approach them for selling homes in a challenging market when individual buyers are not showing interest. Investors can buy such property to widen their investment portfolio or prospects. You can find their contact from local investor groups in your area.
Rahul Agarwal is the Co-founder & Chief Business Officer at Styldod, where he has taught a computer to do interior design! Styldod provides the most hassle-free & inexpensive virtual staging solutions for real estate agents so they can sell their listings faster, and for higher prices. Rahul was also a co-founder of Mebelkart. He pushes the boundaries with his innovative entrepreneurial stints and is also a sound startup investor & advisor.