As an investor, you would want your property to be sold as quickly as possible. However, sometimes, owners make some mistakes, which delays the whole thing, and they end up bagging huge losses. If you’re facing the same problem and unable to sell your property, probably you’re making these four mistakes.
4 Mistakes You’re Making While Selling Your Property
1. Incorrect Pricing
If your property is in perfect condition, but no one is showing any interest in your property, there is a possibility that you’re asking too much for the property.
Generally, the price of real estate depends on supply and demand. When the demand is very high, but the supply is low, you can request a higher price. But it doesn’t mean you can ask any unreasonable amount.
To set the correct price, you’ll have to do market research. Find out what is the actual selling price of real estate in your neighborhood and compare your property with similar houses.
If you can’t do the research yourself, you can leave it for your real estate agent.
2. Low-Quality Listing Pictures
Now, in real estate, people prefer to look at the property online before visiting the place physically. If your listed property pictures aren’t attractive or of low quality, buyers won’t feel the urge to visit your property. As a result, the probability of selling your house will decrease.
To stand out from thousands of listed properties, you’ll have to hire a pro photographer to shoot the pictures of your property. Here, your smartphone photography skills won’t be enough.
Many may think that hiring a pro photographer requires a lot of money. But you should take it as a way to sell your property faster and as an investment. However, if you still don’t want to hire a photographer, you can check this guide on How to Take Real Estate Photography.
3. Marketing Strategy Isn’t Up to The Mark
If the real estate marketing strategy isn’t up to the mark, your property won’t sell. You simply cannot rely on a few listing platforms in this era. You’ll have to make full use of the social media sites and local community groups.
Again, while promoting the property on various platforms, people don’t include all the necessary information. As a result, visitors don’t feel confident about the property, and landowners end up losing potential buyers. That’s why while listing the property, you must mention the exact location with address, state, zip code, property type, price, and status.
4. Inexperienced Real Estate Agent
An experienced realtor will set the right price for your property, market it on various platforms and give you necessary suggestions. On the flip side, when you choose an inexperienced or novice realtor for your property, you won’t get these benefits. That’s why while selecting a real estate agent, you’ll have to be cautious. You’ll have to ask the realtor about their experience, plans to sell the property, and details of the contract.0