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The two keys to selling a property in poor condition

Posted by KHADI on November 8, 2019
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In the printed brochures of any agency, in the most prominent and visible ads on the internet, that impeccable home always appears: a well-arranged property, in an enviable location and with the market-adjusted price. A magazine floor. The house that almost sells itself and that all real estate agents want to have in their portfolio. But, even if these professionals dream that all the real estate they work with is like that, this aspiration is not realistic: there is everything on the market, even gross floors.

We know that these types of properties do not usually generate as many leads as magazine floors, but they also have their public: there are certain types of plaintiffs who do not fear reform. The agent’s job is to find the formula so that the marketing plan is effective and achieves its objective.

Professionals have the mission of guiding the process to ensure that supply and demand are able to meet. Buyer and seller must be satisfied with their intermediation work and, especially in a property of these categories, advice.

Thus, when the agency captures a property in poor condition, the first question is presented to the owner: Do you intend to sell it as is? Or do you plan to make a comprehensive reform? Maybe just fix the electrical and plumbing facilities? It is a difficult issue in which a professional opinion can be well received. The final decision has to be yours, but you need to explain that a reform (or a face lift) can help speed up the process, but you have to take good account to make sure that the investment is recovered .

And, it may happen that the potential buyer does not value that update of the apartment because it has its own reform plans and negotiates the price very hard. These buyers who see beyond the current state of a property are the ones that really interest when it comes to a property of this type.

Double commercial work
Regardless of whether or not to reform, there are owners who do not even consider it: they may not have liquidity to do so, they need to close the operation or they simply do not want to spend money on the process even if that means giving up Higher income. Whatever your reasons, you have to respect their decision, and focus on a double business:

Before the owner
At this point, the commercials face the difficult moment of contrasting reality with the expectations of the owners. A SWOT (analysis of weaknesses, threats, strengths and opportunities) can be the ideal tool with which to deal with this situation and for the client to understand the position of the property in the market. From there the agent will be able to develop a specific marketing plan for that home and oriented to a certain type of specific client. Setting the price is always a difficult task that adds to the fear that honesty when setting a figure can disappoint the customer and make him leave. But not being clear when assessing housing or delaying that time can also cause a disappointment in the owner when he sees that the operation does not progress.

Before buyers
Once the first point has been passed, the property must be presented to potential stakeholders, usually people who are willing to accept the damage provided that other important requirements for them are met, such as the location and, above all, the price. And, as has been said, such a property can only be sold if it is in price. In addition, if we collaborate with a company of trust reforms, they can prepare two or three budgets (of different amounts) so that the buyer has all the information at the time of making their decision. If these proposals contain visual elements (plans and renderings, for example) it will be easier for them to see the potential of the property and not just its current state. This association is also good for the reform company, because it starts with the advantage that the buyer already knows his proposal and can, therefore, get the contract for the final work.

In the end, when a real estate agent faces an operation of buying and selling a property, honesty always has to prevail. This maximum is even more important in this type of real estate. It is essential that the agent generate sufficient trust to his clients, that there is a commitment by both parties to row together to get the sale, that there is constant clarity and information and that a good search of the right public for each property is made.

Before buyers
Once the first point has been passed, the property must be presented to potential stakeholders, usually people who are willing to accept the damage provided that other important requirements for them are met, such as the location and, above all, the price. And, as has been said, such a property can only be sold if it is in price. In addition, if we collaborate with a company of trust reforms, they can prepare two or three budgets (of different amounts) so that the buyer has all the information at the time of making their decision. If these proposals contain visual elements (plans and renderings, for example) it will be easier for them to see the potential of the property and not just its current state. This association is also good for the reform company, because it starts with the advantage that the buyer already knows his proposal and can, therefore, get the contract for the final work.

Al final, cuando un agente inmobiliario hace frente a una operación de compraventa de una propiedad, siempre tiene que primar la honestidad. Esta máxima es aún más importante en este tipo de inmuebles. Es fundamental que el agente genere la confianza suficiente a sus clientes, que exista un compromiso por ambas partes para remar juntos para conseguir la venta, que haya claridad e información constante y que se haga una buena búsqueda del público adecuado para cada inmueble.  

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