Expatriate Forums in India

Ebysino · Posted: Wed Jul 02, 2008 7:49 am Post subject: My Property is Not Moving

Well your property hasn't had the response you wanted and you want to know what to do? It's actually a pretty simple question to answer. There are four things you have to review in and about Cochin Real Estate and be committed to change. If you're not committed to make changes now, no matter how hard they may seem, stop reading,you're not ready. These are the same things we have been preaching over and over again. I'm sure other people have told you the same, but here it goes again.
First off, what's your competition doing? And when we say competition we mean like properties in the area. If you're a colonial, don't compare yourself to a rancher; compare apples to apples. What's your competition have that you don't and what can you do better than your competition? Look at your curb appeal, incentives being offered to the buyer and condition of the property.
Secondly, how does your price compare to the competition. The last thing you want to do as a seller is "chase" the market. Always make sure you are priced under or as close to your competition. It goes back to an earlier article where we mention buyers as consumers and as consumers we're always looking for deals. Price your property to sell.
Thirdly, are you offering the right commission to attract buyer agents. If you're putting two percent on the street and your competition is putting three percent or more on the street, who's house do you think the buyer agent will show? Remember, you're in a "buyers" market and as such there is a tremendous amount of inventory for buyers and buyer agents to look at. Buyer agents, undoubtedly are looking at two things although not ethical, what meets the needs of the client and what's in it for them.
Finally, how are you marketing your property? Did you or your agent just slap a "for sale" sign in the front yard and list it on the MLS or some similar site? Which is not good enough for this market. You need more and need to do more to get the word out. Remember, networking is the key here and what ever you can do on top of the for sale sign and MLS or similar site, is just all the better. As such, you need to let your neighbors know, co-workers know and have it listed on other sites. Sites such as World Properties Online which is an American and International site. Sites such as this give your property better exposure and maximizes your advertising dollars. Remember, in this market and any market a buyer can come from anywhere in the world ,don't pass up sites like these.