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How to Market Difficult Properties – Five
Challenges, Five Solutions ...
Ok, you have been in real estate long enough to
have endured a few listings that you would
rather NOT have landed. Let’s call them ugly
ducklings, shall we? Now, how do you market
them? Here's how you can invite people to
recognize their potential and help the homebuyer
see them as a swan! In the same way we make
lemonade when life deals lemons, you can find
something good about any property – no matter
how flat it may seem at first glance.
It’s not just tiny homes or
homes “out-of-step” with the neighborhood that
need special care. In fact, I’ve helped market
multi-million dollar listings with bedrooms that
left me astounded. “THAT is the master bedroom?
The bedroom in my first apartment was nicer!” My
solution? I don’t mention the master bedroom.
Instead, I highlight the triple-sized whirlpool
with adjustable jet streams in the master
bathroom with the marble steps and the heated
towel racks. I accentuate the positive and
simply ignore the negative.
In smaller, less dramatic
homes, you may need to create positives by
altering your potential buyer’s perspective. You
may not have the luxury of ignoring difficult
features. And, it’s not a matter of sticking the
term “handyman’s dream” or “fixer-upper” on it
and calling the marketing plan complete. Nor, is
it convincing the seller to list it below market
value, so you have a chance of turning it over
quickly.
Remember, every home has
something charming about it. It’s your job to
find that “something” and frame it attractively
for display through your marketing approach.
Kitchen Too Small?
If the house has a
closet-sized kitchen, don’t try to appeal to the
family market. Instead, go for a marketing sweep
to pull in professional singles. Make the
kitchen a drawing point, not a draw-back.
Consider…
“You often have business
meetings that run late, you eat out most nights.
What you want is more space to live, you need
space to relax and unwind. This home’s
efficiency-sized kitchen gains you living space
while retaining the convenience of cooking at
home when you don’t want to go out or order in.”
No storage space?
Find a blank wall in the
living area of the home and comment that this
unbroken expanse of wall is the perfect backdrop
for modern, customized sectional storage units
(think about the ultra-cool – and ultra
expensive – units available through places like
Levenger). Invite buyers to design their own
personal storage space.
Or, discuss how the
architecture of an older or historical home
creates a certain ambiance and how beautiful
(and consistent with the period) an antique
armoire would be as a closet in a bedroom – the
same type the original owner may have used.
There’s no need to mention that this particular
bedroom has no closet at all.
Too-small bedroom?
Is one of the bedrooms too
small for anything larger than a cramped
twin-sized bed? Call it a luxury-sized walk-in
closet, adjacent to the main bathroom.
Sell it as the perfect
office nook or personal multimedia room. Just
encourage them to think of a large, comfortable
leather chair and ottoman facing a bank of
shelves which house a large plasma monitor with
theatre surround sound satellite speakers – all
personalized and made luxurious because it’s
custom tailored for ONE. (How extravagant!)
Call it a hobby room/craft
room – and lure in potential buyers with the
prospect of never having to pick up their
supplies mid-project to return the area to a
“respectable level of order” because company is
expected. Encourage them to keep their materials
spread out and available for whenever the mood
strikes them to return – and enjoy the luxury of
merely closing the door in between hobby
sessions.
Tiny house and only an
average size lawn?
Play up the difference!
“You would rather be outside
planting a garden than inside. This property
reflects your personal preferences and values.
The cozy house is small enough to be economical
to heat and cool, yet large enough to be
comfortable. The ample yard invites the gardener
in you to landscape, plant and enjoy the great
outdoors. The home is in excellent condition so
you can skip the handyman role most homeowners
endure, and enjoy more ‘cultivating’ pursuits.
Entertain your guests outdoors and invite your
friends to enjoy your garden in full bloom –
up-close and personal!”
Single story small house
in a neighborhood of larger, two-story homes?
Appeal to boomer and senior
buyers who don’t want stairs to climb, or a
large house to clean and maintain. Market this
as the perfect opportunity to continue to enjoy
the type of neighborhood they want, at a
reasonable cost, and with all the amenities –
and none of the drawbacks.
NOTE: When listing a
property like this, your seller may want to
invest in a pretty ramped walkway (as an
alternative to steps) that improves access and
appeal to this market-share.
For every home there is a
perfect buyer. Likewise, for every buyer there
is a perfect home. It’s your job (and your
professional passion) to properly introduce the
two – and let nature take its course.
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