Selling & Rental Tricks For Real Estate
It’s not the easiest thing in the world to find a buyer or tenant for your house or rental property at the moment, and there’s little hope that there will be a sudden turnaround in the immediate future. So here are a few tips to set your home or rental property apart from the ten other properties available on your street, so yours can be the first off the market.
Tip 1: Kitchens and Bathrooms are King
Repeat after me: if the kitchens and bathrooms don’t excite people, the rest of the house doesn’t matter. These are the most important rooms in the house, so if you’re on a limited budget (and of course you are), make sure these rooms get first priority on updates.
Tip 2: Landscape, Landscape, Landscape
What’s the first thing a potential tenant or buyer sees? The outside, of course, which means it will be their first impression. I’m not saying you need topiary gardens in the front lawn, but make sure the yard is clean and well-kempt, and it’ll go a long way.
Tip 3: Bribery 101
Gimmicks are effective, but only if they’re attention-grabbing and not already mainstream. For example, offering a seller concession is outdated and ineffective, because buyers just subtract it out of the total price of the house. Flat screen televisions aren’t expensive anymore, and certainly make a statement when they’re hanging on the living room wall. A high-end knife set on the kitchen counter is bound to hook the family chef, and framed artwork hung tastefully will leave a subtle but real impression on buyers and tenants, even if the artwork doesn’t come with the house.
Tip 4: Sell the Neighborhood
It doesn’t matter what kind of shape your house is in if the rest of the block is in shambles. When you’re selling someone on a house, whether as a home or rental, you need to sell them on the neighborhood, because that will often make the difference in a buyer or tenant’s mind. Tell them all about the little caf on the corner that bakes fresh croissants every morning, and the jazz club down the street that features live music every weekend. Get them excited to live in this house, on this block, in this part of town. It’s a package deal.
Selling a house or filling a rental property is a tough job right now, so set yourself apart however you can. If you’re looking for more real estate investing tips, check out our archive, and while you’re there pick up a free rental application form.