In: Real Estate

Knowing Your Market Is Key To The Sale

You want every possible advantage to help you quickly sell a property and to sell it for the right price. Marketing the home, staging it, even making some improvements might already be on the card. But are you really thinking about the specifics of who is going to buy it? By taking a closer look at the market, you can highlight a few particular advantages you have yet to make use of.

 

It’s all about location

Location is one of the most important things a property has to offer, but why? It’s because different locations offer different benefits to different people. The suburban home a short drive from the school and in commuting distance to the city center will be of high appeal to young families. Whereas apartments close to colleges will find their buyers in investors who want to rent to students. By highlighting the features close to the property, you can get a better idea of who is going to want it.

Size matters (amongst other things)

When you know who is going to want the property, you’re going to know how to better sell it to them. When writing effective real estate ads, as shown at the Charlotte Observer, think about what is most appealing to that market. For families, for instance, size matters a lot. Include not just how many rooms the home has, but the size of rooms and bathrooms, as well. If you’re targeting single professionals, size might not be as important when buying an apartment so instead, move the focus to amenities and other features.

 

Choosing the right agent

Real estate agents are likely going to be your partner through every sale you make, but it’s worth thinking about who you choose for every property. Some of them have a better understanding of and relationship with certain markets than others. If you’re selling a property in a community with a high Hispanic population, then using a Spanish language agent like Alamo Homes Espanol should be a given. If you’re selling holiday homes or second homes to older buyers, then use agents who know the attractions of the specific area. Be particular with your choice of agent.

 

Know the overall market, too

You can get into demographics and specific wants and needs of individual markets. However, what you should never ignore the ups-and-downs of the housing market at large, too. You can sell during a down market period, there’s no doubt about that, but it can be much harder to get the price you think the home deserves. Unless you’re willing to take the cut or you need to shift the property as soon as possible, sometimes it’s worth holding on and waiting for the market to swing back in your direction. The ebb and flow of the market depend majorly on locations and areas, so pay attention to local news that could highlight future shifts.

Understand your market and understand their needs and you know how to better sell to them. This applies to real estate just as it applies to every other product and service out there. Start thinking about who exactly is going to want your house.