Realtor’s Section: Tips for Selling an Unsellable Property

Realtor’s Section: Tips for Selling an Unsellable Property

As a real estate agent, life is not always an easy game, and you know it. You meet difficult people who don’t listen to the advice you offer. They don’t trust you regarding the price or the marketing strategy. Other times, you’re listing a house that won’t sell. Either the house requires changes or the seller has an unrealistic idea about the price. How can you deal with such situations?

This article will help you.

Pricing is the Key to Selling a House

Without the correct pricing, you cannot sell a house in any market. You got to reinforce this fact. You should be getting offers within the first few weeks of listing. Today’s buyers are educated, and they will ignore the listing if the house is overpriced. It’s better to underprice the home and create a bidding war.

If the house doesn’t sell, the listing will eventually expire, and it will only result in lost effort & time. Your client needs to understand this fact. You can use statistics to get your point across.

Curb Appeal Boosts the Property Value

Both curb appeal and home staging can increase the home price. Small changes can go a long way. Even a half day’s work can make a big difference in terms of price & time.

People want a house that looks nice from the inside as well as the outside. Enhancing curb appeal shows that the homeowner cares about the house. A poorly kept exterior gives the opposite impression.

The homeowner doesn’t have to try expensive renovations, but a fresh coat of paint and small fixtures can bring a home back to life.

Stage the Home

Staging makes a difference. It is a “must” if you are looking to sell an unsellable house. Furniture can be borrowed in the case; the home has been vacant. Most of the time, unsellable homes are not selling because the seller has abandoned the house or cannot afford regular maintenance. Staging may sound like an additional expense, but it’ll help to sell that home. Viewers will be able to see the hidden beauty, and you’ll be able to command a higher price for the property.

Capture Captivating Photos

Revisit the house. If the interior & exterior are well presented, you can take new photos. Remove all previous images from the website and the app. It’s time to show a new side of that old house.

You have probably told that to your client, but a picture is worth a thousand words. Millennials search for a house online before they enter the market. A photo gives you a chance to present your home and you don’t want to lose that chance.

Major Home Renovations & Upgrades

As a realtor, it can be frustrating to have a house that doesn’t sell. Your hard work and time investment are not considered helpful unless the home sells. It is a fact that you do your best to market a home with the given resources.

However, sometimes, a seller is sure they want the specified price for their house although they cannot get the same considering the condition of their home. In that case, arrange a meeting with the seller. Inform them of the state of the property. Even if they find a buyer, they cannot stop the buyer from performing a detailed inspection. An inspection contingency is the part of the contract, and the buyer can cancel the deal at the last moment if the home has serious flaws. The seller gets two options. He/she can reduce the price of the house.

You don’t have to drop the price drastically. Consider the cost of repairs. Add the value of time and subtract the number from the After-Repair-Value of the house. If the seller doesn’t agree with this step, then they must consider making the repairs themselves. Maybe they can take a renovation loan to rehab their house. It might be a good option if the home is located in a seller’s market.

If none of these options work, ask the seller if they’ll consider working with a cash buyer. Cash buyers can purchase the home quickly without asking for repairs or renovations. The seller will get a fair price for their house.

Investors are interested in rehabbing the home. They will take an unsellable house and will remodel it from top to bottom. A cash buyer is your best bet if you are looking to sell an unsellable house.

These tips are probably not new to you, but when we get a challenge, we go back to the basics. Preparing the home for sale and setting the right price are the key components of a quick sale.

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