Tips to Sell Your Home In Slow Market

Changing rules, updated policies or economic setback, there could be different reasons for a slow market in the real estate sector. While you will want your property to sell at a price higher than what you bought it at and gain from the deal, at times, it is unavoidable to sell a house when the market is not so favourable. In some cases, people also sell their property because either they are relocating or looking for a bigger property.

So, if you are facing challenges while selling your home, here are some tips that can help you sell your home in a slow market:

Advertise smartly

Advertising smartly does not mean you have to spend a large amount for featuring your property. Rather, get selective about your audience, advertise locally. It has been seen that people who live in or nearby localities or have friends and neighbours close by, prefer buying a home in the same locality. If your housing society or Residents' Welfare Association (RWA) allows, you can put an advertisement on the society's notice board, too.

Choose a right broker

If you are unable to find a buyer at your end, get in touch with a broker who can introduce to prospective home buyers. There are online platforms and real estate advisory firms like PropTiger.com and Makaan.com, which can offer you their services at a nominal fee and get you in touch with genuine and serious buyers.

Give your property a new look

A slowdown can not affect the sale of your property if it is worth investing in. Before you offer your product in the market, it is important to make sure that it has lesser chances of being rejected. Give a makeover to your home -- repairing broken windows, cracked walls, leaked pipes. If possible apply a fresh coat of paint to bring newness.

Put the right price tag

While selling your home you would want the deal to be profitable. But, when you know that in the current market scenario, not many real estate deals are taking place, then quote a price which can be accepted by the buyers. Do some research on the recent deals in your areas, consult advisory firms to know the right and prevailing price of your property. Do not forget many prospective buyers would reject your home due to the high price demand.

Be open for flexible offerings

You may have compromised and negotiated over the price tag, but, still facing troubles selling your home. It's time to opt for some flexible offerings. Flexible offerings could include extending the closing date of the deal or offering some other benefits with the house. You can try and offer some furniture or electronics along the home, which you may not require in future. At times, such extra benefits attract the buyers.