How long your property is likely to stay on the market entirely boils down to price, location, and condition, say experts. This week, Lamudi addresses the factors that can help you sell your property faster.
Consider re-pricing: If you have a real estate agent, they are likely to tell you that prices that are too high in a location that is not much sought will not attract any buyer. All sellers want to get the highest price for their property but setting the right price could help you sell it in less than a month. Your local realtors can best advise you by comparing with properties that are similar to yours. The lower the price, the faster it will sell because your market target will be broader. If you are in a hurry, setting the price just below your property’s market value will attract more buyers.
Location factor: Demand of a particular location can drive the sale of any property. Those in locations that are not yet popular might have to wait more time to sell, but cheaper prices can attract buyers with a tight budget. If the condition is also excellent, then it might sell quite faster.
Condition: Nobody wants to buy a derelict property and go through renovation hassles. When your potential clients are inspecting your home, they are visualizing living in it. A home that is in bad shape and untidy can make that process very unpleasant, and consequently discourage buyers. Unless the price is considerably low, it is most likely to stay on the market for a few years. To solve this problem, set a budget and renovate the exterior and interior of your property before listing it for sale; it might well be worth it. If you are unable to sell it with a satisfactory margin, then waiting for the market situation to change is the best way to go.