Here today, gone tomorrow. Whilst most homes take a bit longer to sell, sellers who have listed their homes on HomeSaleMalta.com managed to get offers from interested buyers in a remarkably short time. Recently, a property that had been on the market for 3 years had an offer just 21 days after it was listed on our site!
After a prolonged slump, the property market in Malta has picked up steam again and sellers are finally reporting more activity by buyers who want to purchase a new home. If you have a home that has been sitting on the market for too long, or you’re thinking of listing your home and have can’t wait to get started on your next chapter in life, you have one thing in common: you both need to find a buyer FAST.
In this article we take a look at five practical tips that will greatly improve the odds of cutting down the time it takes to sell a home.
First of all, you’ll need to ensure that you or your agent exploit to the full the opportunities which online marketing gives sellers. A closely related point is to use the power of multimedia. Recruit your neighbours in your search for a buyer. Turn your home into a canvas for your buyers’ dreams (make sure you read this one! – Julie). Finally, get real on your pricing strategy.
Let’s look at each point in further detail.
1 – Take online marketing seriously
The absolute majority of homebuyers start hunting for their new home online. They will consider or exclude your listing depending on how well it is presented online.
A study by Trulia found that home listings that had more than 6 photos attracted the attention of twice as many prospective buyers than those that have left. Make sure you or your agent know how to use online marketing well and your chances of selling fast will go through the roof.
As an online agency, HomeSaleMalta.com lives and breathes online real estate marketing.
Contact us if you want to find out more about how we achieve our incredible results and how we can do the same for your property.
2 – Harness the power of multimedia listings
If pictures have such a massive influence on would-be buyers then you can only imagine but an impression a detailed video listing would make. Flip out your iPhone or digital camera and give your buyers a guided tour of your home: tell (and show!) them the story behind why you chose to live in this home in the first place and explain all the great things they can do in your neighbourhood.
3 – Recruit your neighbours to help you in your search
Your neighbours should have be as much interest in your buyer as you do! If you’re on friendly terms with your neighbours bring them over during a viewing and introduce them to your buyer: it will help establish a more personal bond between the buyer and the property, as well as lend you more credibility as a seller.
4 – De-personalise and de-clutter your home
This may sound be like an unusual suggestion at first, but hear it out. One of the key tactics to close any kind of sale is by making the buyer feel like they already own the product (or property) even before they purchased it.
By taking out things from your home that identify it as yours, you’ll help your buyers visualise the house as being their home, something they’d otherwise have a lot of difficulty to do if there are personal items strewn about the place which mark the territory as yours and yours only.
Pretend you’re moving out and de-clutter your home from family photos, personal artefacts and other memorabilia that would intrude in the buyer’s imagination. Besides making the property seem cleaner, more organised and more spacious, you also just made your moving out process a whole lot easier.
NOTE: While suggesting that you do remove your personal belongings from your home, it is also a good idea to stage the interior of the house with things that are considered universally appealing.
Fresh flowers, the smell of baked goods and a cosy fireplace are things that everybody is attracted to and may actually stimulate the buyers to start visualising your property as their home more intensely.
5 – Choose a realistic price by studying your competition
We left the most obvious tip for last. Set a realistic price. Oftentimes, the single factor that keeps a property in the market for years is that sellers choose an unreasonable price for their property, which happens either because they don’t know any better or because they’re too greedy.
Study your competition well and let the market guide you towards a sensible price range. There are volumes of publications and online databases listing thousands of properties for sale in Malta and Gozo which you can read for free and draw your conclusions.
Select properties that closely resemble yours and check their prices. Find out if there are any significant differences between prices in your neighbourhood and in other parts of the islands. Once you’ve established a realistic price bracket for your property add a premium to it based on your property’s conditions.
If you want to increase the value of your home, consider refurbishing or upgrading its features and then make a point of emphasising these renovations in listings or during viewings.
Remember to follow the five tips listed in this article when you list your next home. If you’re already in the market start using these tips straight away and boost your chances of getting an offer on your property from an interested buyer.
Have you sold property before? How long did it take before you got the offer that led to your last transaction. Use the comments section below to share your opinions, ideas and suggestions about property selling in Malta and Gozo, and share stories from the trenches with our readers.