Sell Home Fast: Learn How to Sell a Property You Just Can’t Sell
Selling a property that just can’t seem to sell is a difficult one. I’ve been through it previously and I won’t even wish it for my worst enemy (if I ever I have an enemy which gladly, I don’t). The headache of not knowing what will happen next month, the horrible feeling that once again, you will most likely pay a mortgage payment without any cash coming in, and the knowledge that the money you expected when you first bought the property is now a lot less and continues to go down every single month you don’t sell the property… all mixed to make you stressed out with a property I call the “slow mover”.
If you’re in this scenario, I can completely understand you. I’ve been in that scenario several times. There are several solutions to a property that is NOT selling and here are some of them.
1. eXtreme Marketing – this is what I am teaching my students. In a simple way, eXtreme Marketing is putting out a compelling marketing message to your target audience (or target buyer) exposed many times through multiple marketing media to sell home fast (or any kind of property for that matter). If your house is NOT selling, what is your marketing message? Is it the boring: “3 bed/2 bath house for sale K”? If I am your buyer, why will I call you with your boring message when there are millions other houses with the similar marketing message? Instead, make it something like this: “Own a 3 bed home for the price of dinner” (or something like that). You’re wondering, price of dinner, what could this mean? You see, I’ve just aroused curiosity in your mind due to a simple twist and if you’re in the market for a 3 bed house, you will likely call ME versus my competition.
2. Be flexible in your price and or terms – You have to oftentimes cut your losses and move on. You can get back your losses with other properties so be flexible on the price or terms or both. For example, maybe offer to finance the closing costs of the buyer or give the buyer some repair credits at closing such that the down payment your buyer needs to come up is near to ZERO. In fact, market the property as ZERO DOWN and see your phone ring off the hook. If they are qualified for an investment property mortgage, show the house and if they like it, sit down with them and discuss how they can buy the property with ZERO DOWN. Probably there is something you can purchase from them or trade with them so that the cash value of such trade is their down payment. Just be creative.
3. Stage the property – the goal is to help the buyer imagine what it would be like to live in your house. Make it feel like a home to them. You can put small furniture, paintings, floor mats and other things that invoke a nice emotional response from your prospective buyers. Candles by the kitchen counter top or rubber ducks in the bath tub are just some good examples that I can think of. Staging the property will separate your property from your competition.
4. Owner financing or rent to own – in today’s environment, financing is difficult to come by since banks are very strict. Provide owner financing or selling the property on a rent to own mode. Doing so means you’ve just widened the pool of buyers for your property to sell home fast. Sometimes, some of your prospective buyers think they can’t qualify for a mortgage but some of them probably will. Of course when you do rent to own, put in mind your buyer might end up returning the property to you or he/she might not be the good tenant you think he or she is. Be ready for this possibility. Collect as much non-refundable down payment or option consideration as you can from your buyer or tenant/buyer to protect yourself from this scenario.
Mark Joseph Miller is an article marketing assistant of Trace Trajano for BuyFirstDeal.com. Discover the secrets on how to buy foreclosed homes in any market even with no money. Visit us and other real estate investing-minded people at http://BuyFirstDeal.com to learn cutting-edge tips and strategies to help you thrive as a real estate entrepreneur.
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