Here are three easy ways to get buyers to pay more for your property.
These tips work in both a hot real estate market and cold real estate market, and for both commercial real estate and residential properties.
First Impressions Count
Experienced negotiators understand that first impressions are lasting impressions. Once people have made a subliminal decision, it’s very difficult to get them to change their minds.
That’s why making a positive first impression is key to get buyers to pay more for what you’re selling.
In real estate that’s also known as curb appeal. Well kept landscaping, no litter, and if you’re selling commercial real estate no vagrants hanging around the property.
You’re going for what’s known as the ‘Wow Factor’ when prospective buyers pull up the curb.
No Deferred Maintenance
Deferred maintenance items are things that need to be fixed or repaired but haven’t been.
Items like peeling paint, a loose shingle, or a small graffiti mark on the fence can be innocent enough.
But they can also make a buyer wonder why they haven’t been taken care of – especially if you’re selling your property. Even worse, deferred maintenance that a buyer can see will also make the buyer think about things that can’t be seen.
Take a loose roof shingle for example.
A loose shingle means that water can get into the inside of the roof, which means dampness and potential mold issues. Which in turn means potential health issues for the occupant and unknown legal issues for the new property owner.
Get Buyers To Pay More With A Good Story
Another key to getting buyers to pay more is by having a good story to tell.
As a seller you’ll need to be honest with yourself about the problems with your property. Look at your real estate from a potential buyer’s point of view.
This doesn’t mean you need to apologize. But it does mean you should foresee as many potential objections or questions as possible, and know ahead of time what your answers are going to be.
A smooth, practiced response goes a long way to convincing a potential buyer that they’re making the right decision to purchase the real estate that you’re selling.