Updated: Mar 26
By putting up the apartment for sale, every owner wants to get more money. Therefore, when selling an apartment in crisis, the question of price and sales tools comes to the fore. We found out what other features there are in selling a house in such a difficult period.
Features of working with a real estate property in crisis
During the crisis, income falls, and many people put off or refuse to buy real estate properties at all. The demand for housing is greatly reduced. At the same time, people continue to sell real estate, which means there are no fewer offers. It turns out that in the crisis supply exceeds demand.
Obviously, the seller is more interested in the deal. If it does not happen, he will have to look for another buyer for a long time. But the buyer will easily find another seller with a similar offer. Therefore, in times of crisis, you should take a commission from the seller, as he is more interested in your services.
When starting to sell an apartment in crisis, the real estate agent should remember that the work with the owner comes first: assistance in determining an adequate price and advice on preparing the object for sale.
In the crisis, the tools for sale are the same as before, only the requirements for their execution have become stricter. Now it is impossible to "somehow" advertise, "somehow" prepare for viewing. Everything should be of the highest category, all tools should be used qualitatively and systematically.
When the property is ready to sell?
By this we mean first of all documents confirming its legal purity. This is especially relevant today when the majority of transactions are carried out with the help of mortgages: banks do not approve of "impure" objects.
But documentary readiness is not enough. The seller must either move with his family in advance to another apartment or in parallel to buy a new one. It is important that the buyer does not wait until the previous owner will release the house.
Whether to make repairs before the sale is an open question. It depends on the condition of the house. If it is enough to refresh the wallpaper, it is better to do. A fresh look will make a greater impression on potential buyers. And if the apartment is in a very bad condition, the repair will not pay off. It is easier to find a buyer who is planning the repair. In this case, it is advised to do a virtual staging, that attracts more potential buyers and helps people easier imagine their future home. Examples of the 3D virtual staging you can find here.
This is another point that turned from optional to mandatory during the crisis. Some buyers do not open ads at all without quality photos. So you'd better invite a professional photographer.
Real estate is a commodity. Real Estate is a very expensive commodity. And the main task, with the help of certain symbolic investments, to make the property the most attractive for a wide circle of potential buyers. That's what Virtual Home Staging does.
Home Staging is nothing but a set of technologies for pre-sale preparation of your property. One of the main tasks of Home Staging is to create a wide buyer’s feeling of comfort and well-being of this particular room.
Among other tasks are:
Attract the attention of potential buyers
Save the buyer from doubts about the appropriateness of this purchase
Make the goods as liquid as possible
Sell the goods at the best price.
Expensive or exclusive repairs never justify the sale. However, home staging pays for itself many times. In addition, it has a very serious impact on the speed of sale and the final price.
The purpose of virtual home staging is to make the property look attractive to as many potential buyers as possible. Such a task can stand at the sale of both new homes and properties of the secondary market. In the usual case, increased attractiveness is achieved by creating a cosy living environment in which a potential buyer could immediately feel the potential of the property. It is also very important when the property is empty.
The best economic effect can usually be obtained as a result of close cooperation of a professional interior designer with a real estate agent who knows the local market well.
Statistical data clearly demonstrate that the use of home staging allows you to sell real estate on average 2 times faster and at the same time 10-15% more expensive, compared to unprepared objects or improperly prepared.
Virtual home staging consists of developing design solutions and performing photorealistic 3D visualizations that reveal the potential of the property. The 3D pictures created this way can be used for the presentation of the real estate property on websites, in mailing lists, in printed publications, as well as in showcases of offices of real estate agencies.
For more information on home staging services, please contact us.