If you want to be successful when selling your house, you should approach it the way you would sell anything. Determine why you decided to buy your house, and find the target market that would also enjoy it for the same reasons. Get out there and advertise your house to a group of various other people, and you will be successful.
Advertising a product can be a difficult thing to do for any company. Trying to find the right market, the potential consumers, the right age groups, and even the right income bracket is tricky. This does not stop the motivated business man. It should not stop the motivated seller, either.
You have a product you want to sell, your house. That is the easy part. Trying to find the right market can be the hard one. However, it is not as hard as you think. You just need to understand how to market the product and who to market it to. All of this is assuming you are already running an advertisement in the local paper and have put up a sign.
Take a good look at your home. Why did you buy it? Was it because of the number of bedrooms? Maybe it was the location. It could have been because of the yard. There are so many reasons people buy homes. You need to remember why you bought yours. This is what it will tell you about your market. For instance, maybe you bought the home because it offered four bedrooms and was close to the school you wanted your children to attend. You have one potential market already, the large family. Now you need to be able to reach them.
Every school has a parent teacher organization. You could have an open house for the PTO members of your school. By sending out invitations to this group, you are reaching people who are already interested in the neighborhood. You know this because of their involvement in the school. How many times have you been talking with someone who said they would like to live in the school district in which you live? Now is the time to offer that chance to them. The PTO members may know someone just like that. By having an open house for just the PTO members you can let them introduce someone into the neighborhood by showing them your home.
You can do this with every group and organization you are affiliated with or know about in the community. This is just one way you can advertise your home and be a motivated seller. There are plenty of other ways.
Determine what income bracket your home would attract. Locate organizations and clubs catering to these people, and put up flyers where these people may frequent. If you know certain individuals who may be interested or know someone else who may be then invite them to a private showing, this always makes people feel special and they are more receptive to what you have to offer. People do not like competition. Although many times it makes them perform better, therefore a higher offer, however you may still end up with a bad deal in the end. Let each potential buyer think they are making all the decisions. Coax them into a deal instead of trying to bully them into it. You will have a better response.
Being a motivated seller does not mean being desperate. It means you are trying to market your product to the consumer. Real estate has become a business just like any other. You need to make good decisions, be marketing savvy, and be a motivated seller. This will bring you profits just like in the corporate world.
Resell or Hold?
When deciding whether to sell for a small property or hold on it it, it depends on what financial situation you are in. If you have a cash flow it is highly recommended holding onto the property, eventually the market will go back up. If you are losing vast amounts of money however, short sale and get out of the deal. Look at your financial situation and do what works best for you.
Make Money Renting
Investing in properties is a great long term investment. Instead of selling your house, you may want to have someone rent out your home, which is essence means they are paying your mortgage. Once the housing market goes up again you could have your home appraised and then sell at a higher price than you were once planning on.
Investing During A Recession
Buying Real Estate during a recession may seem like a scary thing to do but it is actually a great investment move. During a recession many homes are being foreclosed or selling at much less than the asking price. If you research why the house is selling, how long it has been on the market, and what the asking price is, you could end up with a great investment during a recession.
