Guest Post by: Advantage Realty Inc.
When they first buy their investment property, most investors know they will eventually have to sell the asset. This is quite normal as most real estate investors will do this at one point or the other. Major reasons why investment property owners may sell their investments are:
- They want to reap the tax benefits
- The market conditions are right
- They want to buy a cheaper property in a more profitable location
- Selling is part of the investor’s strategy
But regardless of the other reasons for selling an investment property, owners always want to cash out on any gains to the property’s value. In all likelihood, the asset has increased in value since it was bought. And as Advantage Realty Inc. explains, that increase in value can only become tangible cash when the property is sold.
Selling an investment property is the only way to convert its value on paper to cash in the bank. But when selling a property, it is not always certain that an investor will actually get as much money from the sale as the property’s market value suggests. A lot depends on how the asset is marketed.
In selling your investment property, what are the steps you can take to accelerate the sale and ensure you get the best price for the property?
When trying to sell their properties, most real estate investors take the most comfortable route. They use familiar marketing methods that have been around for the longest time. Although these methods are tried and tested, they belong to a past era and are no longer as effective.
That’s because the environment in which properties are bought and sold has changed. Today, everything is digital and mobile. Investors who know how to deploy modern technology, along with the traditional methods, will sell their properties faster and make more money.
Professional tips for selling your investment property
1. Write great ad copy
Your copy is what creates a connection between your buyer and your ad. Copy encapsulates every message you try to convey via the various advertising media and platforms that you deploy. That message must be evocative and resonate with your target audience, in order to be able to move them to take your desired action. Creating great copy is the first step to winning quality attention.
2. Use high-quality videos and photographs
Pictures and videos sell more because they are more evocative. People can relate more to the images and messages these media convey. The audience has less work to do to understand the communication because most of it is explained to them. A video ad can say in ten seconds what your written text cannot say in thirty minutes.
3. Build your own website
Building a website that is solely dedicated to marketing your property will not cost you much, but it will give you incredible mileage in terms of reach and the breadth of your advertising options. You will be able to dispatch digital marketing tools to greater effect. And through the website, you can hold buyers’ attention fully because there will be no competing properties trying to break their focus.
4. Use multiple listing service (MLS) listings and free websites
Using MLS listings and free websites provide you with access to a huge market. You can take advantage of the audiences these platforms have accumulated to get your property in front of as many people as possible. But to get the most value from these platforms, it is best to pay for an advert on the platform. A paid ad will help your voice get heard above the noise and single you out as a professional.
5. Take advantage of referrals
You are often one or two persons away from the person who can buy your property. But as long as there is nothing in it for them, people have no reason to connect you to the high net worth individuals they know. A referral system unlocks the power of your connections. It lets you incorporate real estate agents near and far, as well as, your friends, family, and acquaintances into your marketing network.
6. Buy social media ads
The people you want to reach are probably on at least one social media platform. But trying to find your buyer on social media is like looking for a needle in a haystack; you may waste a lot of time and energy without results. Paid advertising is a way to unlock the power of social media. Used properly, it will ensure that your ad is delivered to the people who need to see it.
7. Create a virtual tour
The more information you provide online shoppers about your property, the easier it will be for buyers to make a decision. You want to make sure that only those buyers who are on the verge of buying request a physical walk through of the property. One of the best ways to do this is to make a virtual tour of the property and publish it on various online platforms.
There you go, the pro tips you can follow to sell your investment property in no time!