Table of Contents
Sell a property in Cyprus fast and efficient. Are you thinking of listing your house or apartment up for sale? In this article we analyse how to get maximum value while keeping in mind that it needs to be sold fast and efficient.
These are the key points on what you have to consider and what to avoid:
1. Keep the house clean while showing to potential buyer.
This is the number one rule. There are many strategies for selling a house fast, but when you’re short on time, one definite must is making your home’s interior appeal to as many buyers as possible. No customer will be impressed by a dirty house irrespective of how beautiful it may be.
First impression matters the most and it is crucial that the potential buyers can see themselves living in this house when seeing it for the first time and even better if they can visualise a home. Try to keep the design minimal and beautiful.
2. Make quick and easy repairs if needed.
- While you are interested to sell fast and do not wish to make a major renovation, it is very important to patch up any small repairs because as small as they be, potential buyers could be deterred by the fuss of doing it themselves.
- Paint or patch up any damaged spots, it makes the house look newer.
- Everything should be working, from just a simple light lamp to air conditioners and all electrical devices. Any unexpected surprises while trying to turn on the A/C will have the potential buyers thinking if there is something else that could be damaged or dysfunctional.
- Replace anything inexpensive that is outdated and makes the house look really old. For ex. electrical sockets are cheap to replace and give away a house’s age.
- Clean or replace carpets.
3. Know your potential buyer and stage your house accordingly.
There are various aspects of your house that can determine who your potential buyer is. Location, price, type of building, is the buyer trying to invest or live here and raise a family? By knowing your customer, you can stage your house. For ex. An elderly couple will be less likely to be interested in modern design and much more likely to be interested in a nice garden.
4. Hire a professional photographer.
Although it may seem expensive, the photos listed in any ads are very important and if you have low quality photos, this could make your house sit longer in the market.
A cell phone camera cannot capture the essence of a home like professional real estate photography can. Professional photographers bring with them specialize cameras, wide angle lenses and lighting equipment and also the experience and knowhow of what pictures will attract potential suitors and what pictures to avoid taking. This can make your house look brighter and attract more views and potential buyers.
5. Be flexible with showings
When trying to sell a house, you should be able and willing to meet any requests that you may have for a showing. We completely understand that late minute calls are not the easiest for the seller, but if you want to sell fast and efficiently, it is very important to try and accommodate buyers’ schedules. If you cannot afford the time, hire someone to do it for you.
Every call received by a potential buyer is an opportunity and your house is at risk of sitting in the market for longer. Do not let any opportunities slip!
6. Make the right price evaluation.
Sometimes, you may hear the property is bad, the timing is bad, the market is bad. In reality, there is actually no bad properties, only wrong prices. Each house has its own price depending on various factors and you should seek to receive maximum value while always keeping in mind what the actual market price is.
You can always consult a real estate-agent which in most cases is free and will give you a better insight of the current market value.
7. Set a timeline for price reduction
Based on your current financial needs but also on the feedback you receive at first, you can decide to offer a discounted price for your house. This can be a reduction in price, or giving some more incentives such as offering the electrical devices or house furniture for free.
This cannot be decided until you wait a bit to receive feedback for your listing. If the feedback received is not so good, it would be a great idea to set a timeline for price reduction. The longer the house sits in the market, the lower the chances you have at selling at market value.
8. Understand the market trends.
There are a number of factors within the property sector that can indicate the state of the market and where it’s likely to go. The economic indicators of demand and supply has always been the number one indicator on determining the price of a property.
The basic idea is that the more the options available in the market, the less the value of your property. The norms of the buyers can certainly affect the price and demand for your property. In order to understand better the theory behind a market trend, you should also consider a number of other macroeconomic factors such as income, inflation, unemployment but also growth and development.
9. Give a good overview of property including features and amenities.
- Choose your house best features that will help attract buyers.
- Include everything that make the location and neighbourhood attractive such as nearby schools, parks, supermarkets, beach, restaurants, or easy access to highway.
- Use professional photos.
- Always make it sound Urgent, as if the house needs to be sold today! For ex. The price is valid until [DATE].
10. Hire a real estate agent that can handle all of the above.
If you are not willing or just do not have the time to go through all of the above-mentioned advices in greater detail, just leave it to the pros.
Remember that this is just a sample of the knowledge and technical knowhow of a professional real estate agent. They know what, how and when to do it, and additionally, it spares you of the time needed to get into real estate selling just for selling your house. Also, a professional has a better chance of selling your house faster and at a better price. You may pay a small commission, but in the end it may be worth it.