Selling property in Pennsylvania can be a challenge. The market is competitive and, after the housing bubble of 2007/2008, property buyers are more savvy and cautious than ever before.
Does that mean you can’t sell yours quickly?
No, but it does mean that you need to use every possible method to make your property attractive to buyers, and to get the word out once it’s on the market.
Here are four tips to help you do that:
Tip #1: Put In What You Want to Get Out
When you want to turn a profit on a property, you might be tempted to cut corners and try to save on the little details. Does it really matter if you skimp a bit on the finishing?
The short answer is yes, it does. The details matter when you’re trying to sell a property quickly, and buyers notice them.
When you make decisions about the build and finishing of your property, make them with your desired result in mind.
Tip #2: Set a Reasonable Price
It might seem obvious that you want to get the highest price possible for a property that you’ve refurbished, but that isn’t always the best strategy if you want to turn a property quickly.
That’s not to say that you should sell for a lowball price that results in you losing money. However, it does mean that it’s not a bad thing to leave some equity in the deal.
Some of the equity in question might be sweat equity—and that has to be okay if you are concerned with making a quick and easy sale. The trick is to walk a line between what you can live with as a profit and what you need to do to sell the property in question.
Tip #3: Build a Buyer’s List
If you’ve been in the real estate business for a while, the chances are good that you know some people who regularly buy real estate. They might be looking for rental properties or simply hedging against changes in the market. But, whatever the case, they have both the money and the willingness to buy property.
If you don’t have someone in mind for a particular property, there are some things you can do to build a list. You may already know the basics of list-building, but here are a few tips.
- Run an ad and offer a lead magnet (a property buyer’s guide or something to that effect) that will attract people in your target audience. Gate the lead magnet so that people have to provide their email address to download it.
- Do a guided tour of the property on YouTube and create a YouTube channel if you don’t already have one. Include a clickable call to action at the end where people can schedule an in-person tour or an appointment with you.
- As new subscribers are added to your list, follow up with a combination of pre-written emails and personal phone calls to identify the people who are most likely to be interested in your property.
It’s a simple process, but one that can help you identify buyers quickly and have a list on hand for future properties that you need to sell.
Tip #4: Use Social Media
There’s no denying that social media has become a must-use tool for marketing for every industry—and that includes real estate.
One particular tool that can be extremely helpful in real estate is Facebook Live. It’s a live video option that allows you to stream directly from your smartphone or tablet to your Facebook feed.
You can use live video to provide virtual tours of the properties you’re selling, or to do a live Q & A with the people who follow you on Facebook.
Of course, Facebook isn’t the only social media site that’s useful for real estate. You might want to try one or more of the following, as well:
- Create a Pinterest board featuring photos of your property and run an ad to promote it.
- Post photographs of your properties on Instagram.
- Use Twitter to announce open houses.
- Blog on LinkedIn to connect with businesses that might be in the market for commercial property.
To use social media effectively, make sure that you target your ads to your specific audience and make yourself available to respond to comments and questions.
Conclusion
The longer a property sits on the market, the less likely it is that you’ll get your asking price. These four tips can help you get your property moving quickly, and with a minimum of fuss. Try them and see on your next project!