Top 5 things property owners should do to attract home buyers to their property

There are many reasons associated with a property sale. Some are that the property was bought with the intent to let it appreciate and then sell, an urgent need for money, an owner upgrading to a bigger property, an owner moving out of the city or country, or the property aging and needing redevelopment. Just as buying a property is not easy, selling one is also challenging. It is not every day that one sells property, and since it is a high-value transaction, a property owner should aim to get the best price when the property is put on sale. For this, they must make every effort to ensure that the property attracts more and more buyers, allowing them to be in a better position during negotiations.

Once a buyer is clear about the location and the budget he wants to buy the property, the next step is a list of things that he necessarily wants in the property. After this comes things are of lesser priority. Having an idea of what today’s buyers look out for and incorporating them gives a property seller an added advantage. In this guide, we highlight on how you can attract home buyers to your property listed for sale. 

 

What Do Homebuyers Like in a Property?

• A safe and secure project that also offers privacy to residents.
• A property that has the configuration they are looking for.
• A property with plenty of open space, either as part of a gated complex or attached to their house.
• Bigger rooms that are complemented by open terraces or sitting balconies.
• Energy-efficient homes that use solar energy for purposes such as balcony lighting or providing hot water in the bathroom instead of using electric geysers.
• With remote work still prevalent, people today prefer an exclusive space to set up their home office. Any provision in this direction is an eye-catcher.
• If quality fittings and fixtures are used in the property, they definitely add value.
• Storage is something that most people ask for. If the house they are considering buying has a good amount of storage and a modular kitchen, it’s a steal deal for the buyer.

 

What do homebuyers not like?

• If the entrance and surroundings of the housing complex are dirty and not well-maintained, people tend to avoid the property.
• If the project is not senior citizen-friendly or disabled-friendly—such as lacking ramps or lifts.
• The presence of an industrial chimney in the vicinity that emits hazardous air pollutants (HAPs) can deter buyers.
• A view is an important criterion for people when buying a property; views that overlook a slum, an open drain etc. are generally undesirable.
• Proximity to political party offices is something that many buyers prefer to avoid.
• If the property doesn’t have enough parking spaces, and people have to rely on public parking, they typically pass on such deals.
• If the property has open gutters and suffers from mosquito infestation.
• Poor public transport connectivity can also be a deal-breaker.

 

5 things that property owners should do to attract home buyers

Showcase your property

When the buyer sees the property for the first time, they should be impressed. This plays a crucial role in immediate decision-making. If this part is done effectively, no matter how many houses the buyer may see, they will always get back to you. To ensure that the house leaves the best first impression, channel your energy into marketing it. It is recommended to spend some money on premium photoshoots of the property, including aerial views and a 3D tour.

Create a lasting impression

With respect to the property, it has to be tidy from both inside and outside. Consider painting the exterior walls and the main door when you paint the interiors of the house. If you are looking to sell an independent house, service the parking space/garage by painting it. If there is a garden that is part of the property, trim it to make it more attractive.

Declutter your space

Open spaces and bigger rooms are appealing to buyers. Placing unnecessary furniture and items can give a closed and cramped appearance to the room. Remember that homebuyers prefer practical usage of the property over mere aesthetics. So, remove all unwanted items from your house to give the rooms a more spacious look. An open house allows buyers to make mental notes on how they can plan the layout of their future home. Once this impression is set, buyers are more likely to consider and pursue purchasing the property, unless there is a budget conflict or a last-minute issue.

Fix the small issues

Most often, when we live in a property, we tend to ignore small issues that require attention, postponing repairs and adjusting to the existing conditions. For instance, a hole in the wall that needs filling, a leaky shower faucet, broken flooring, or a fan regulator that doesn’t operate correctly. However, when a buyer is looking to purchase a property, they may expect everything to be in mint condition. Additionally, they may be under the impression that if they buy the property, they will have to spend a lot of time and money on repairs. This perception can discourage them from making a purchase.

Give a good deal

Set the property price while considering the prices of comparable properties in the neighbourhood. When negotiating with the buyer, offer a deal that they may find hard to refuse. For instance, while you can maintain the price you set, you could offer the buyer incentives such as fixing the mosquito nets on the windows or painting the house to their liking.

 

How to make a distress sale attractive for the home buyer?

In the case of a distress sale, it’s clear that you need the money urgently. However, it’s still important to get the best deal possible. While making a distress sale to a buyer:

• Highlight all the positives about the property.
• Indicate how the property has appreciated from the time you purchased it until now.
• Mention the locality and its connectivity. Discuss future developments in the area and how these will positively impact property prices.
• Offer incentives such as fixtures that are already in the house—like a split AC, a chandelier, or furniture you may not need.

 

Selling the property

Once these steps are followed and the property is made attractive, you can decide whether to proceed with selling the property on your own or through a real estate agent, with each option having its advantages. While you save on the high commission (almost 1-2% of the property’s value) paid to a real estate agent, the time taken to sell the property on your own may be longer than what an agent may take. This is because an agent knows the market better and can identify potential homebuyers for your property. A real estate agent may also have contacts that facilitate the registration process. If you plan to sell on your own, be prepared for some back-and-forth in case of missing information.

 

Housing.com POV

Home buying is a mix of emotional, financial, and practical decisions, in that order. When you are ready to sell your property, ensure that you have made all the necessary improvements that will help you close the deal quickly without compromising on price. Also, remember that during the journey of selling your property, there may not be many interested buyers. In this case, it is advisable to reconsider the asking price. Additionally, evaluate what your property lacks based on feedback from those who rejected it and try to address these issues. Finally, if you are unable to sell the property for a long time, instead of keeping it locked, it may be a good idea to rent it out, as the property will still be earning for you.

 

FAQs

What is the role of staging a home when you want to sell it?

Staging a home helps homebuyers imagine what the final look of the house will be when all the spaces are used effectively. This will leave a lasting impression in their minds and encourage them to proceed with the home buying process.

How can you market the sale of your property?

You can seek the help of a real estate agent, list your property on portals such as Housing.com, use social media, and employ word of mouth to market the sale of your property.

What should I do if my home isn’t attracting interest?

Conduct a market study and reassess the asking price for your property. Additionally, evaluate what the property lacks based on feedback from people who rejected it and try to address these issues.

Should you invest in professional photography for property pictures?

This depends on the property price you are quoting. If it’s a premium property, it’s advisable to invest in professional photography, which will provide a crystal-clear idea of the property’s appeal.

Should you use a real estate agent to sell the property?

You can choose between selling the property on your own or using a real estate agent. Selling on your own may save you on commission costs; however, a real estate agent may close the transaction much faster than you could.

Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at jhumur.ghosh1@housing.com