sell your property: Discover Best Practices for Selling Your Apartment or House Quickly As a homeowner, you might be wondering: Is this the right time to sell my property? How can I sell it during a crisis?
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| How to Sell Your Property in Times of Crisis? |
Many people around you might suggest waiting, citing decreased prices, etc. But the key question here is: What are the right strategies to swiftly sell your property during a crisis?
Expert Strategies for Selling Your Property During a Crisis
As you're likely aware, numerous factors are shifting today, particularly interest rates. These rates notably impact the target audience known as first-time buyers, those without extensive means. For them, the 35% debt threshold, coupled with rising interest rates, can quickly become a barrier.
Overcoming this barrier may require a bit more in terms of initial contributions. Hence, it's legitimate to ponder how to go about selling my real estate.
Broadly speaking, you have two options today: either engage a real estate professional or handle it yourself.
Sell your own property
Selling Your Property by Yourself However, when you take it upon yourself, it's not necessarily a walk in the park. It's quite challenging nowadays to attract new clients, to captivate buyers for your property.
You'll need to be more responsive, more assertive. Can you be as assertive as a professional? Chances are probably not.
Then comes the second obstacle: the buyer's solvency. Nowadays, verifying their solvency and, notably, their borrowing capacity is a considerable challenge.
While the most serious buyers may claim to have a bank pre-approval, remember that such pre-approvals might only be valid for 30 days. Thus, be vigilant because neglecting this aspect could mean starting from scratch.
Sell your property with an agency
Selling Your Property with an Agency On the other hand, if you sell through agencies and real estate professionals, there's a risk of drowning your property among countless others. For this reason, we invite you to explore the article on classic or exclusive mandates, allowing you to consider the advantages and disadvantages of each.
The right approach here is to analyze the market to position yourself competitively. To achieve this, it's essential to evaluate the property's performance.
This performance is twofold.
Firstly, energy performance is a critical criterion today, defined by your Energy Performance Certificate (DPE). We encourage you to watch our video on "how to read a DPE." Your DPE will determine whether the future buyer needs to undertake renovations, thereby incurring additional expenses.
Secondly, it pertains to the intrinsic performance of your property. You'll need to assess your property's standing concerning the market conditions, the area, etc.
- Is it newer or older?
- Does it require more or fewer renovations?
- Is it better equipped?
- Does it offer more space?
- What is the size of its land?
Of course, professionals can assist you with this. The primary mistake to avoid in times of crisis, if you want to sell your property, is to simply copy-paste your competitors' prices because you won't stand out.
Regarding the buyers of your property
Regarding the buyers of your property You need to move away from the highly emotional aspect of thinking: "since it's my property, it's the most beautiful, and I can sell it at the highest price."
During a crisis, you must do the opposite and rationalize this approach. The question you need to ask yourself is how much you need, for example, to start a new project:
- what is my goal?
- How much credit do I still have to pay off?
You must approach your property from this perspective to step away from an emotionally driven mindset tied to your property.
For the buyer, what matters is that this purchase fits within their budget and that they ultimately find the best value for money.
You'll need to be precise about the price. Today, price and renovations are two fundamental elements in the purchase criterion due to inflation for renovations and, on the other hand, the rise in interest rates for the acquisition price.
Conclusion
In conclusion, amidst this global crisis, numerous possibilities exist. The number of transactions remains steady, while loans face a bit more difficulty.
However, if you position yourself well, if you receive proper guidance as you can with Tech Explorist AGENCE Store, if you entrust your property for sale, then you'll find that your property can sell quickly.
Together, we can structure an offer that closely mirrors reality, attracting buyers effectively.
