Do you need answers on why your property is still on the market for months or years? We’ll be sharing tips on how to move a stagnant property in Nevada.
What is stagnation?
When an economy goes through a period of declining, flat or no growth, it is said to be in stagnation.
How does this relate with Stagnant Properties?
The difference between Stagnation and Stagnant Properties is that stagnation involves the Economy as a whole while Stagnant Properties focus on Properties alone.
A stagnant Property is a property that has been on the market for a long period. This makes its value to decline or remain stagnant.
Moving your stagnant property in Nevada involves certain secrets that we’ll be sharing. These tips will help save your property in preparation to fit back into the Nevada Housing Market.
Here are few steps on How to move your stagnant property in Nevada:
TAKE YOUR PROPERTY OFF THE MARKET
If you keep your property on the market for a long period without a break (the average is at least 3 months), prominent buyers will avoid it.
The longer a property stays on the market, the harder it is to get a buyer and the tougher it is to convince curious buyers.
Taking your property off the market creates new opportunities, not just to interest new and available buyers but also to help you figure better ways to sell your property.
KNOW YOUR COMPETITION
In any type of sales business, knowing the competition and competitors is key to survival.
So, visit the internet, get familiar with the properties for sales in the same location as yours. Go to their open inspections or auctions and converse with buyers at those places.
Find out what interests them, drink those champagnes offered, and listen to complaints and likes. In doing that, you’re preparing to improve your property with the information gotten.
GET A MAKEOVER SERVICE FOR YOUR PROPERTY
The next step is to utilize the information gotten and implement it on your property.
Get a survey done on “what feels wrong about the property?” or on “what should be done better or changed?” and ask for honest remarks. You could get the survey done by family and friends.
You can hire a realtor and home inspector to help with a makeover’s necessities if you have enough money to.
CREATE A NEW PRICE LIST
In the survey done, the pricelist sections added help know what price comes up in the buyers’ head when they see your property, which can help you adjust the price.
A common problem of Stagnant property is how unrealistic the property’s price might be; either it’s too low to believe or too high on the market.
Have consistent meetings with your agents and balance out realistic prices based on the research and survey done.
Do not forget to think like a buyer and set prices attractive to you as a buyer.
RE-ADVERTISING YOUR PROPERTY.
The final and very important step, after every survey, re-modeling, re-pricing, and going undercover to open houses you’ve attended, preparing to put your property back on the market entails thorough advertisement.
You can hire a creative writer to help combine words that suit your taste and not missing a background story that touches the heart of a curious buyer.
Such emotional attachment cannot be underestimated. Share a story that could connect with potential buyers. You could even take your property to the Television or Radio if you have what it takes to pay.
In your bid to sell your property, remember buyers are price-sensitive, but that shouldn’t stop you from displaying the price of your property’s worth; even your agent will agree with what you see.