The amount of time a property stays on the market varies depending on the area, price, amenities and the season. You cannot tell for sure how long it will take you to sell a property, because there are a couple of factors that greatly influence the length of time it can take to sell a property like the price of the property, the location and when it is put up for sale.
This week Jumia House looks at what aspects should you consider to ensure that your house sells fast:
Using more than one channel to advertise a house can decrease the amount of time it will take to sell it. To sell a house fast, the seller should use classifieds and online marketing portals, place boards in front of the property and hire real estate agents to inform potential buyers about the availability of a property. This goes a long way in making a property sell faster.
Price is an essential attribute and is one of the first aspects any buyer considers before purchasing a house. Lowering prices is a strategy used by homeowners to sell houses faster; low-cost houses are seen as hot deals and therefore have higher chances of selling faster simply because there are more buyers who can afford these. It is important for real estate agents to stick to a particular price from the start of the sale rather than setting it high at first, since it drives customers away from the beginning.
Location is another key factor in selling a home, and areas that are situated close to amenities such as schools, banks and the CBD (Central Business District) are considered to be more valuable and end up selling faster. However, some people also prefer quiet, serene neighborhoods and would therefore avoid noisy houses that are close to the CBD.
Condition of the house
The condition of a house is very important. Well-furnished and tended houses are considered to be more valuable and are therefore likely to sell faster compared to derelict properties. It is important for sellers to renovate houses to sell these faster.
The time of the year in which the house is sold contributes to how fast the property will sell. Most people prefer to buy houses during the end-of-year holidays or at the end of the school term. Moving during the rainy season and in between school terms is inconvenient and is therefore avoided by most people.
Despite all the above, it is important for property sellers to critically interact with their buyers and understand their specific needs before selling the property. Some buyers may prefer to buy a house at a low price to renovate and get more out of it or a home in the outskirts. Taking note of such details enables agents, developers and homeowners to sell their properties faster as the buyers would be presented with properties that match their needs.