What to Do If You is Property Is in the Market for Long for Sale?
Jan 30, 2018 Home Trading Steps
Are you struggling to sell your property for a long time? You must have tried many ways but failed due to many reasons such as not getting the right price or the right buyer. Many of buyers must have inquired or even visited the site but didn’t finally turn up. And amidst of all these, quite a lot of time has passed since you have listed your property for sale.
Let’s understand what this means for the seller.
Ideally, a good property gets sold in a matter of six months or so. In case your property is older than that, then it might create some doubts in the buyer’s mind which can spoil the chances of property getting sold.
The owner has to put a lot of efforts and time to get his or her property sold. The seller has to make sure that they are always available for the buyers. Whenever the buyers call, the sellers need to give them complete attention. Whenever they want to visit the site, the seller needs to be physically present to show them around.
Then if you property sale gets delayed that also means some monetary loss. For instance, you plan to sell off the property in Rs 60 lakhs. Out of the Rs 60 lakhs, you have the plan to deposit 30 lakhs to a fixed deposit. So if the sale of the property gets delayed by 6 months, this means that loss of 6 months’ interest over that amount which is huge.
Now, what should you do?
1.Check the price you have quoted. Compare your property price with the price of similar properties in the same locality. Are they cheaper than yours? If yes, then you need to decrease your property price as well.
2.You need to hold your patience. It might be possible that market is slow. And selling in a slow market gets quite difficult. So it is advised that it is better to wait for the right time and come back when the market is stable.
3.If you have hired a broker, maybe it’s time to change the broker. Find someone who is a better service provider with a better track record. You can also get in touch with various people rather than depending on only one person.
4.Look at your own approach and attitude. Buyers usually don’t like the sellers who do not have patience and push them to buy. The market is full of properties, in such case they might go to some other seller.
5.Word of mouth can do wonders. Market your property yourself. Circulate the information that you are selling your property among your social circles like family, friends, colleagues or neighbours. This might turn up a good help.
6.Check the condition of your property. If it is in a bad condition then you need to spend some money and make some improvements such that it instantly makes an impression on the buyer.
Let’s understand what this means for the seller.
Ideally, a good property gets sold in a matter of six months or so. In case your property is older than that, then it might create some doubts in the buyer’s mind which can spoil the chances of property getting sold.
The owner has to put a lot of efforts and time to get his or her property sold. The seller has to make sure that they are always available for the buyers. Whenever the buyers call, the sellers need to give them complete attention. Whenever they want to visit the site, the seller needs to be physically present to show them around.
Then if you property sale gets delayed that also means some monetary loss. For instance, you plan to sell off the property in Rs 60 lakhs. Out of the Rs 60 lakhs, you have the plan to deposit 30 lakhs to a fixed deposit. So if the sale of the property gets delayed by 6 months, this means that loss of 6 months’ interest over that amount which is huge.
Now, what should you do?
1.Check the price you have quoted. Compare your property price with the price of similar properties in the same locality. Are they cheaper than yours? If yes, then you need to decrease your property price as well.
2.You need to hold your patience. It might be possible that market is slow. And selling in a slow market gets quite difficult. So it is advised that it is better to wait for the right time and come back when the market is stable.
3.If you have hired a broker, maybe it’s time to change the broker. Find someone who is a better service provider with a better track record. You can also get in touch with various people rather than depending on only one person.
4.Look at your own approach and attitude. Buyers usually don’t like the sellers who do not have patience and push them to buy. The market is full of properties, in such case they might go to some other seller.
5.Word of mouth can do wonders. Market your property yourself. Circulate the information that you are selling your property among your social circles like family, friends, colleagues or neighbours. This might turn up a good help.
6.Check the condition of your property. If it is in a bad condition then you need to spend some money and make some improvements such that it instantly makes an impression on the buyer.
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