Last Updated on Mar 25, 2020 by James W
Real estate is a tricky market and there is a constant demand for homes. Every seller has lofty demands and expectations from their property sale. While some are reasonable others are ought right ludicrous. These unreasonable demands can seriously hamper their business prospects. As an agent, it is crucial to make your client understand some things about the real estate industry. One can be giving their flats for rent in Ranchi or selling their home in Ludhiana, the inherent rules are always the same. The real estate industry is governed by some rules and characteristics. It’s an agents duty to beak their seller’s myths and give them a clear understanding of how the real estate industry functions. Here are the things a real estate agent should tell their seller before listing the property.
Staging- Staging is very crucial when one wants to sell the house or give on rent. It is the first impression the client has on the property. And chances are if they don’t have a very good first impression, they aren’t coming back. Many sellers do not realize the importance of staging and become adamant about not staging. They feel it is useless and a waste of money. This will only take them longer to sell the house. One cannot so a house done up according to one’s personal taste to a prospective buyer. The more neutral the pain and decor the better it is. The buyer needs to imagine him/ her living in the house and not the ones occupying it.
As an agent one has to be firm with the seller and explain the benefits of staging. You can also give the seller some first-hand experience by taking them to properties that are staged and not staged. This way they will realize for themselves the advantages of staging.
Pricing- Lots of people are emotionally attached to their property and think their property deserves a higher price in comparison to others in the vicinity. But as an agent one needs to explain to the client that the market dictates the price and not the client. Buyers look for lots of options before buying a property and their choice is not just governed by the look and vibe of the house, but also its costs. If the seller does not competitively price ones house, there is a good chance that the buyer will go for another property that fits in their budget and feels is right for the price.
Renovations- If as an agent you notice that a house needs certain renovations to increase its selling prospects in the market, feel free to suggest it to them. Many sellers refrain from doing small renovations thinking of the costs they will have to incur. As a result a property that could be sold for much more, ends up being sold for less, as the prospective clients are sometimes unable to visualize the grand final product or they factor in the costs of the repairs. In the end the seller has a lot to lose. Small renovations now can translate into big money.
Incentives- Inform the seller about the advantages of offering incentives and ask them what incentives they are willing to offer if the right buyer comes along. Sometimes incentives are the only thing that makes ones property stand out, among the competition. Offering some good incentives can help increase the popularity and demand of the house and will also help it sell faster. The incentives should obviously not be a burden to the seller, but good enough to attract more customers.