How To Market Your Property So It Sells Faster
Selling your property is one of the most challenging aspects of real estate investing. In order to get a good ROI, you want to sell your property for the highest price and within the shortest period of time possible. This is even more important if you’ve financed the property with a hard money loan due to the higher interest rate and short loan term.
Fortunately, there are several actions you can take to market your property to increase the chances it will sell quickly. Keep the following six tips in mind:
- Stage the property. According to a July 2017 report by the National Association of Realtors, the majority of realtors agree that staging a home decreases its time on the market. However, even if you’re selling a commercial property, it’s advisable to stage certain areas such as the rental office and common areas for a rental property and the lobby and a meeting room for an office building. If you don’t know how to stage a property, you can always hire a professional stager.
- Create marketing materials. Regardless of the type of property you’re selling, you need to present it in a way that appeals to potential buyers. While it’s possible to create marketing materials yourself, it’s worth the investment to hire professionals to do this for you. You’ll need professional-grade photos of the exterior and interior of the property, as well as a well-written, eye-catching headline and description. This content should include the key selling points for buyers, such as “all new appliances” and “two-car garage” for home buyers or “trendy location” and “onsite fitness room and pool” for a residential income property. Use the marketing materials to create a page on your website for the property, as well as online ads on Zillow, Trulia, Realtor, and other real estate websites.
- Include a virtual tour. Interested buyers always want to see more than just photos. A video tour of the property provides a more detailed overview and can help prompt serious buyers to schedule an in-person tour. Just like with the rest of the marketing materials, this is best done by a professional.
- Use social media to your advantage. If you have a following on Facebook, Twitter, LinkedIn, or Instagram, you can leverage it to market your property. Create one- to two-sentence posts with photographs that entice people to click through to the listing on your website for more information.
- Don’t forget about print ads! Take out ads in your local newspaper, and create flyers to leave at supermarkets and other busy stores.
- Organize open houses. Open houses offer a great way to get your property a lot of exposure in a short period of time. It’s best to organize them on the weekend because it’s easier for people to attend them. Don’t forget to make sure the property is staged appropriately!
By putting these tips into practice, you’ll increase the likelihood of serious buyers noticing your property in a timely manner. And when you stop to consider all the other work and money you’ve already invested in the project, the extra effort to successfully market your property is truly time well spent.