Selling Property in Slow Times…
- October 30th, 2016
- in PROPERTY
Whether you are a motivated seller of a property that has been listed for quite some time, or a new vendor still assessing the real estate market—these months with their seemingly reduced activity—can leave you impatient for some selling-action.
In the BVI, mid-December to April is traditionally known as High Season and is a period of increased tourist traffic to these islands. With the rise in visitors, there is a corresponding spike in real estate activity during the high season.
As a vendor, you will want to maximise the attention your property gets during the high season months. It is important that you wisely use the weeks leading up to this time to prepare your property for the increased attention it will get.
It is also significant to remember that while the slower months of September to November see little real estate ground-activity, it is in fact the period when heavy internet-based interest is entertained. You and your listing agent should be using this time of fewer showings to increase visibility through on-line and print marketing.
Here are some tips on preparing your sale-property for the increased interest which is characteristic of the high season. With these changes your property will grab attention:
- Make improvements that do not cost too much but have the most impact on the look of your property. Repainting is a cost-effective way to update the look of a room
- For slightly more impact and reasonably low expenditure, consider updating cabinetry or countertops. This modernises the look of a kitchen or bathroom and can mean less compromise on your selling price
- Rearrange furniture and artwork for a surprisingly significant impact
- Beautify landscaping to enhance views and vantage points
- Re-energise your listing with new images and use drone photography for aerial imagery
- Update your property description to include any improvements you have made
- Have your listing agent update all marketing websites and print with new pictures and description
- If your property has been on the market for a long time and you are anxious to sell, consider opening up your listing by marketing through multiple real estate companies
Finally, as most properties listed for sale are also rented, ensure that the rental contract with your guests, includes a clause that allows your selling agent to show the house with 24 hours’ notice.
While the High Season means more frequent rental guests, it is also the time to get in as many showings of your property as possible. With careful planning and insight, the weeks leading up to High Season can be key in preparing your property for an active season, resulting in a closing that pleases you and the buyer.