Did you buy a property that you thought was a good deal, only to realise later on that the neighborhood was less than ideal, or that the property needed more work than you originally anticipated? This has happened to many commercial real estate investors and the way you react to the situation will determine how well you fare profit-wise.
If you have a “property from Hell” and want to know how to get rid of it fast, keep reading and renting our commercial real estate investment experts provide some easy to use solutions to your problem. Here are some ways to sell your dud property fast:
- Create a Better Property Listing
One way to sell your dud property fast, is to create a better property listing. One that will attract buyers and move your property in less time, for more money. Here are some tips to create a better property listing:
- Use Photos That Are High Quality
- Write a Powerful Property Description
- Use a Headline That Will Get Noticed
- Consider Paying for a Promotional Video
- Promote Your Listings in More Places
Everybody has their favourite property listing tool, but why stop there? Listing your property in more places, means that more people will see it and you have a better chance of getting it sold.
- Promote Your Listings More Frequently
With the increase in property listings being added every day, your listing could get bumped rather quickly and we all know that front page property listings are seen more often than any others. Keep your listing on the front page by promoting it more frequently.
- Offer Seller Financing with Attractive Terms
One of the most effective ways to move a property quickly is to offer innovative financing with more attractive terms. This will enable you to:
- Make a lot more money from the exact same sale price.
- Create multiple streams of passive income for years into the future.
- Give more buyers access to my property who never would have been able to obtain outside financing.
- Lower the Price
As a last resort, you may have to lower your asking price if you really want to get rid of that property from Hell that you have been sitting on for far too long. You may not make as much of a profit as you would like, but you won’t still be paying for a property that you can’t sell either.
For more tips on how to become a more effective property investor, contact Sovereign Realty Advisors today.