What To Do When Your Home Or Commercial Property Isn’t Selling?
Everybody says that investment in property is the quickest way to increase your capital in the shortest possible time. However, several times it has been found that people find it hard to sell their properties at the price they have set out for. Therefore, if you have a commercial office space in New Delhi and are not getting the price that you want from it, then you have to look what you are doing wrong. Only when you are able to understand the shortcoming in your strategy, you will be able to make the requisite correction and choose the right strategy to sell your property at a very good price. In this article we will give you some of the tips of where you are going wrong with your marketing as well as pricing strategy, and what you should do to change it get the desired result.
Strategies to market your commercial estate
1). Do not be lazy to market your property: It has been observed that many a times a seller with a good property in a prime location thinks that he do not need to invest in marketing the property, but a simple ad in the newspaper will get him of hoard of buyers knocking on the doors. The seller needs to understand that whatever be the location of the property, marketing plays an important part in spreading the news that a prime location property is in the market. Only then people interested in buying property will notice it and contact you. Even if the commercial property you own is not located in a prime location, marketing will help you get more buyers, which in turn will push up the price of the property.
2). Have you marked the price of your property to high: This is another problem that is plaguing the commercial property market? Sellers with very little knowledge about the market condition raise the price of their property to unreasonable levels. This in turn scare away the potential buyers. If you have a commercial property in Delhi on in any other place which you are planning to sell, then the first thing you need to do is conduct a proper market research. This will give you an idea about the average price of a property in similar location is fetching. When you know the market average, then you can offer your price accordingly. However, if your property offers some extra benefit to the customer that other similarly located property do not, then you need to market it in such a way that people will realise that by paying extra they are getting something unique.
3). You should refurbish your house to get a higher price: If the commercial property/house you want to sell in the market is in a shabby condition, then it would be very difficult for you to get a good price for the same. You should look at other similar properties, and what they are offering their buyers, therefore, you need to spend a few bucks make your property more presentable so that it attracts more potential buyers. And as more people offer to buy your property its price will go up automatically. Therefore, you need to make the initial investment like painting the doors and windows and also giving a fresh coat of paint to your house. Even cleaning the surroundings will help you to attract more customers.
4). Do you have a clear title of the property: Experts who have researched why many properties are hard to sell, have concluded that in most of these cases, the properties are entangled in some legal issues. People who like to invest in property spend lakhs and sometimes crores of rupees to buy one. Therefore, when the financial outlay is so high, most of them do not like to enter into a deal with the property owner whose property is embroiled in some legal dispute. If you are facing such a problem, then it would be advisable to first settle the legal matter. Only after you get a clear title of the property and there is no dispute, then you can enter the market and sell your property at higher price.
5).Use high-quality pictures in your advertisement: Advertisement is basically a visual art form. It allows you to attract the potential buyer to your commercial property/house. However, to attract more investors, you need to take the help of a professional photographer to take beautiful pictures of your house and its surrounding area. A great picture is worth a thousand words. Good looking pictures accompanying your advertisement will help you to attract more customer to buy your property. Make sure that the photographs show your property in the best possible light to ensure that more and more people who look at it will want to own it.
6). Change in property dealer: Many a times property owners give the entire responsibility of selling their property to a property dealer. While this arrangement has several advantages like you get expert advice and you are freed from the responsibility of finding clients for your property, it has some disadvantages too. The major disadvantage that you might face if you try to sell your commercial office place in New Delhi or any other place is the unprofessional attitude of the real estate dealer. If the real estate dealer is either lazy or is not very interested in selling your property due to smaller margin, then you will find it hard to sell your property at a high price. Therefore, keep track of what your real estate dealer is doing and if you find his services unsatisfactory you should change him.
7). Not seizing the right opportunity to sell:The prices in the property market are not static, but they keep on changing in response to demand and supply. Therefore, you need to see is the right opportunity to sell your commercial property and in case the market is in a downturn, then to not try to sell it but wait for the market to peak to finally sell your commercial property at a good price.