We have previously covered the do’s and don’ts of selling a million dollar home. But what about the opposite? Many real estate agents have found success selling affordable homes and condos. But it obviously calls for you to take a much different approach.
For starters, you are working within the budget constraints of each client. Unlike the luxury property market, where decisions are driven by tastes, selling affordable homes and condos requires you to be understanding of the needs, wants and purchasing capacity of a homeseeker. This presents you with a unique set of challenges.
With that in mind, let’s explore some of the key to selling affordable homes and condos.
Related: What is a qualified property sales lead?
3 keys to selling affordable homes and condos
Set realistic expectations
When you are helping someone find an affordable home or condo, it is important you set realistic expectations around their budget. The first step is understanding what are the one or two things they absolutely need. This can serve as a starting point for their search.
If you explain to them that it is possible to find a place with those features within their budget but the other items on their wishlist may not be possible, it helps set realistic expectations for their search. As you’ll see, this ties in quite a bit with the next key.
Prepare lots of options
It is vital you have lots of options for clients when selling affordable homes and condos. People tend to have a long list of things they want when searching for a new property. As previously mentioned, finding one with everything they desire is usually unrealistic.
This is where you come in. Presenting clients with a wide range of options at the start of their home search helps them weigh the pros and cons of various features. Now, there is no guarantee they will find something, but at least you’ll know that’s not for a lack of choice.
Increase your exposure
Having more properties means you need more visibility. And while there are many ways to increase your exposure, the easiest and most cost-effective method is to sign up with Proppit. This simplified marketing solution places your listings on up to five leading property portals. However, you pay one fee, and everything filters through one dashboard. Proppit is the powerful, new tool for real estate agents. Click here to learn more.
Related: Make your listings more effective by doing these 4 things