TIPS ON HOW TO SELL PROPERTY FOR PROFIT

BE ZONE CONSCIOUS

If you don’t keep up with zoning development and control in your city by the local planning authority, you could be selling your house just before zoning adjustments are being implemented. These zoning adjustments could considerably increase the value of your property. Haste makes waste, they say. So keep your eyes and ears tuned to city changes that could enhance (or affect) your position as a seller.

Pricing too high? Too low?

High and low pricing: sellers who like to make a killing price their property way too high, making

it out of reach to buyers who are looking at similar properties in the same location. Don't be priced out. Going to the other end of the spectrum, you'll know that you priced your house too low when it's bought the same or next day after you or your agent advertised it. It was “snatched” by someone else because it was way below market price.

Obviously, you as seller will try to get the highest price you can get for your property so you start

with a high price.

The buyer, on the other hand, will offer the lowest possible price he can negotiate. So you start high and he starts low. This creates plenty of room to negotiate - the gloomy area that lies between the highest and lowest prices.

This is where sellers can make the mistake of not demonstrating sufficient flexibility to the buyer!

This is the reason there are high and low prices in real estate - what Albert Lowry called practicing the give-and-take principle. “Such give-and-take is part of the bargaining process…It

gives you both room to negotiate…As you and the buyer make proposals and counterproposals,

you are inching closer to agreement…Then at some point one of you will yield no further.”

Develop the extra sense to know when to stop negotiating.

LEASING INSTEAD OF SELLING

Lease with option to buy: a lease option has a longer term than a straight option, usually running for as long as one year or longer. Some will even extend to three years, depending on the desire of the seller. While your lease is ongoing, you can rent out the property and be in a positive cash flow. The second advantage is, the property is appreciating in value. If you have a long lease option, you can then sell the property for the highest price you can obtain.

One last method for hot picks: be on the alert for long leases. Long leases will ensure that a property will be rented or leased for long periods of time, not just a year. Some commercial leases for example go for as long as 5 or 10 years. One example is the government. Take post

offices as the best illustration. The government will usually rent space for post offices on a long term basis. If the property you are eyeing has government outlets like the post office, government agencies e.t.c these buildings qualify as hot property!

Location!

You've heard about the three principal parameters in real estate? One - location, two - location, and three - location. Take that with a capital “L”. One trick in looking for that pot of gold at the end of the rainbow is to buy the worst property in the best neighborhood, NOT the best property in the worst neighborhood.

This is a prime important rule that sophisticated inventors try never to break.

For more information on how to sell property for profit, call me on 08104982099 or 07083834540.