Selling real estate property is highly lucrative, but also challenging. With the right strategies and skills, you master the art of profitably selling any type of property. The price is too high and your property may sit unsold for months. Thoroughly research comparable sold listings in the neighborhood. Work with a qualified appraiser if needed. List at just below market value to generate quick interest and a potential bidding war. Leave wiggle room for negotiations. Adjust the price accordingly if it doesn’t sell within 60 days.
Stage it perfectly
A property’s appearance significantly impacts buyers’ willingness to purchase at the asking price. Declutter and clean every room to make it look spacious and inviting. Paint walls in neutral colors and upgrade lighting fixtures as needed. Tend the yard and refresh landscaping. Replace worn carpets or dated flooring. Fix anything broken or damaged. Spend up to 2% of the list price to maximize your ROI. Hire a real estate agent experienced in your local market. Have them market the listing through their Indiana Real Estate MLS, social media, email lists, open houses, broker tours, and networking. Tap into your network by telling friends, family, and colleagues the property is for sale. Optimize online listings with professional photos and enticing descriptions. Leverage print and digital advertising.
Create urgency and interest
Many psychological sales tactics build buyer urgency and make your listing more desirable, including showcasing multiple offers on hand, emphasizing special features, noting recent upgrades, highlighting record-low interest rates, and offering incentives like closing cost assistance. But use these judiciously to avoid turning off buyers. Be willing to negotiate, but avoid over-discounting. Collect and organize all necessary documentation ahead of time. It includes the property deed, plat map, disclosure forms, HOA bylaws, utility and maintenance records, permits, and inspection reports. Failing to disclose known defects could make you liable to lawsuits. Thorough documentation also lets buyers perform due diligence efficiently, so they remain engaged.
Master communication skills
As the seller, you are essentially the chief salesperson. Respond promptly to buyers’ inquiries and agent requests. Be honest but also persuasive when highlighting the property’s amenities and potential. Maintain regular contact with the agent, so you strategize together. Display confidence about the value you are offering. Avoid agreeing to extra concessions and repairs unless necessary. Expect buyers to counter your list price with a lower offer. Don’t take it personally. Remain calm and objective. Have your target price and walkaway point determined ahead of time. Offer reasonable compromises on price and terms, but know when to stand firm. Get all offers in writing. Leverage competing offers if any to motivate quick decisions. Use your agents’ expertise in navigating negotiations.
Facilitate house inspections
Inspections protect buyers from purchasing defective properties, so fully cooperate. Allow easy scheduling of inspections and make yourself available to meet contractors to point out features and provide access. This reassures buyers you have nothing to hide. For minor issues raised, offer reasonable credits or repairs. If severe problems arise, negotiate solutions before the buyer walks. Consider creative offers that meet your bottom line, even if unconventional. For example, accept a higher earnest money deposit and lower purchase price. Or structure the deal as “rent-to-own” for more gain over time. Accept offers with shorter or longer escrow timeframes if they clinch the deal. Say yes to contingencies you work with.