I need to sell a property. How do I ensure I get the most profit available?



As a property investor, there are times when you need to unload a property, even though the timing is not perfect. Let’s take a look at how to make the most profit regardless.


Timing.

I mentioned timing already, but it deserves a second thought. When selling your property, there are two kinds of markets: a buyer's market and a seller's market. A buyers market is when there are more properties than buyers. Sellers don't want their property to be on the market for a long time, so prices drop to create competition. When there are more buyers than properties, prices rise as buyers are willing to compete for homes.


If you have the option, avoid selling your property in a buyer's market. If renting the property to cover your costs is an option, that might be better than selling during a buyer’s market.


To find out what kind of market you’re in now, contact us! We can check out the Days on Market (DOM) of homes and also look at home appreciation in your area. There may be other options once we review your investment portfolio of properties.


Identify your ideal buyer.

To sell well, one of the best things you can do is to research who would be interested in your property and sell and stage for them. If your property is ideal for a young family, consider selling in the spring. Young families, especially those with children, prefer to buy in the spring, so they will be moving during the summer when the kids are out of school. Doing this research on your target buyers is one of the best ways to ensure that you will see demand for your home.


Stage your home well.

Think of staging as the packaging of products at the grocery store. Packaging is largely considered the last stage of marketing; when you're deciding between two of the same types of cereal, you’re more likely to choose the kind with eye-catching packaging than the plain kind. This is the same with home staging.


When staging, think of who you’re selling to. A couple with young children would want to see a house that is clean, uncluttered, and bright. They are hoping to find their ideal house, not a house filled with toys and clutter.


Consider how to make your property welcoming based on the season. Ensure your landscaping and curb appeal are up to par. These are all factors that buyers will remember when envisioning themselves living on your property. If you need help with staging, we’ve got you covered! Read about staging your property in Fall and Winter and staging tips for renters.


Set the right price.

Knowing how to price your property can be one of the more difficult tasks when it comes to selling. There is a balance between selling high on the market and selling too high that demand decreases. You can look at similar homes in your area, and how your neighborhood sells. If this is too much of a time investment for you, consider working with an agent.


At Regalway Homes, we work with property investors, many of whom are first time investors. We can help fix your investment plans, or we can set you up with the best formula for your needs. This will help you maximize your passive income, while not putting you at risk.


Use the booking calendar below to get in touch with us!




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