The Global Financial Crisis of 2008 has forever changed the landscape of the real estate industry.
Although it occurred in the U.S., the collapse of the housing bubble had lingering effects all throughout the world. And despite showings that the real estate slump in the housing market is improving, selling a property is still difficult.
But despite the odds, selling your apartment in 2016 is not impossible. Everyone needs a place to live in right? So there will always be people looking to buy one. If you’re thinking of selling your Victoria apartment, check out these practical and easy-to-do tips on improving your chances of selling your old home.
Scope The Competition
Before entering the housing market, research and know your competitors. And when we say competitors, we mean other people selling their apartments within your neighbourhood. Know their price and while you’re at it, the selling points of their home.
By knowing these simple details, you will have a rough idea on how you will execute your pricing. Remember, if your apartment is a bit overpriced, no one will even bother to check it out or let alone buy it.
Know Your Apartment’s Value
After knowing your competitors, it’s now time to get your apartment properly appraised. Get a reputable Victoria residential broker to help you know the highest value your apartment can possibly get and then use that on your advertisements.
But wait, there’s more! After advertising your apartment in its highest possible value, sell it at an actual price that is significantly lower than the competition.
Highlight Its Features
This is dead obvious. Apart from the pricing, attracting potential buyers lies on the amenities of your apartment. Does it have a beautiful walk-in closet? A spacious living room? Is it located in a good neighbourhood? These are just some of the things that people want when looking for their new home.
Alert Your Neighbours
We mentioned neighbours because your apartment’s potential buyer may just be next door. When selling your condo, it’s best to alert your neighbours and let them know that your unit is for sale.
Your neighbours may know someone, say a relative or a co-worker, looking for an apartment and may refer them to you.
Not-So-Useless Trivia: People like to live in a place where they know someone (that may be your apartment!)
Shoulder The Closing Costs
Be a giver and extend your generosity by offering to pay the closing costs of your house. Most people looking for a new home may able to afford the mortgage, but have problems paying huge amount of money up front.
By shouldering the closing cost, it will be a huge saving for potential buyers and make it stand-out from the rest of competition.