The scenery is better and the gentle ocean breezes are insurmountable, but trying to sell real estate in the Bahamas can be just as challenging as in other parts of the world when the real estate market is in a slump.
During these recessions, researching to find a qualified real estate agent and taking special steps to market your real estate effectively can mean the difference between a property that sells at a fair price in no time and a property that languishes on the market, he said. Rachel Pinder, Broker Director for Island Living Real Estate in Nassau.
Brenda Knowles, a broker at Island Living Real Estate, suggests that homeowners ask a potential real estate agent these questions when considering the best person for the job:
o How will you market the property?
o What is the history of your company?
o What is the real estate background / experience of your agents?
o How long have they been in business?
o What is the current market trend?
o Did you co-break with other real estate agencies?
o What changes do I need to make to my property to be competitive in today’s market?
In short, sellers need to find out how the real estate agent intends to market their property, Knowles said. There are several marketing standards that most real estate agents employ when listing properties, so it’s paramount to come up with the options that distinguish a real estate agent from everyone else.
It is important to remember that the best marketing plan can only do so much; a homeowner should follow the advice of their real estate agent to make their property look its best, Pinder said.
“It seems to go against common sense to put money into a home you’re trying to sell, but as many TV shows on the subject demonstrate, you can really get a better price on your home by putting a little money into making it attractive to a homeowner. broad spectrum of potential home buyers, “he said.
Here are some simple and relatively inexpensive tips:
o Make sure the house is freshly painted in neutral colors.
o Remove personal items, such as family photos.
o Make minor repairs: patch holes in walls, fix cracked tiles, replace cracked windows, etc.
o Get rid of clutter, inside and out
o Clean, clean, clean
o Make your main entrance attractive by adding colorful flowers.
Another tip to remember is to price the property.
“Don’t try to overvalue your home in a falling market,” Pinder said. “It will not be sold.”
© 2007 Sinai Marketing and Island Living Real Estate. Authorization to publish is granted, on the condition that Sinai Marketing is credited as the sole source. Links to other sites from this article are strictly prohibited, with the exception of the links included in this document.
