Leave room for improvement in your next real estate sale
In a perfect world many of us would like to buy our dream home with nothing to do, simply step inside and everything is there exactly as we wanted. Many of us would potentially pay over the odds for the dream home but the reality is that this is very unlikely to happen. As a consequence, if you’re looking to sell real estate assets many people believe that you should leave room for improvement to allow the next owner to put their own stamp on the property.
In some ways this may seem rather bizarre, the fact that you are in effect selling an “incomplete” house, but the reality is that we all have different styles, different ideas and we all have our own views.
Selling the idea not the reality
One of the most successful attributes any salesperson can have is selling the idea and not necessarily the reality. This is something which is vital in the world of real estate sales because you are in effect selling a property as it is but also selling the idea of improvements and changes which could be made. Whether these changes are actually made is out of the hands of the seller, and the selling agent, and once the buyer has taken ownership it is down to them whether they push through with their own ideas.
Quote from the PropertyForum.com : “Stick to basics for real estate success.”
This is another reason why selling the “complete” real estate asset does not always work best because if this is the case then it may be more difficult than you think putting your own stamp on a property and making it “your own”. You might be surprised to learn that some people would actually be put off a property which is seen to be “complete” as opposed to leaving room for improvement and allowing the buyer some leeway to put their own ideas into practice.
Fashions change
It is also worth noting that fashions in the real estate sector change on a regular basis as do interior designs, colours, textures and styles of decoration. This can make it extremely difficult to sell “complete” properties which have a particular style and a particular stamp because in some cases it can be relatively expensive to revamp them. The idea of creating a “half-made canvas” will give people an idea of what the property could look like while allowing them to put their own individual take on the colours, design, materials, etc.
Appealing to the widest market
While some people make a very good living appealing to niche markets where there are relatively wealthy individuals, for the wider market it is probably best to appeal to as many people as possible. The very fact that your property appeals to the widest possible market means that you have, in theory, the best chance of creating competition for your property which should ensure you get the best price?
Conclusion
Selling the dream home to an individual buyer is obviously a reality that many selling agents and real estate investors strive for. However, this is not always possible and therefore if you’re able to offer a property which gives an idea of the style, design and look which is possible, whilst allowing the buyer to add the “finishing touches”, this will appeal to the widest market and also hopefully allow you to obtain the best price possible.