Despite the fact that the operation of the real estate sector is in good health, putting a property for sale does not mean that in a matter of hours, days, it is already awarded: the time to sell a property depends on many factors so that we know how much to start it will occupy us.
It is for this reason that a good real estate agency must be concerned with ensuring the means and conditions that make a home, whatever it may be, stay in the portfolio for as little time as possible and take little time to find the ideal tenant. How can we reduce the time to sell a property?
2. Tips to reduce the time to sell a property
2.1. Pre-prepare the house for the market situation
One of the biggest “burglaries” and setbacks when selling a property is that from the outset the home does not go on sale in optimal market conditions to make it competitive.
As professionals, we must advise as much as possible on the value of the home and be up to date with the latest developments and movements in the sector so that the starting price is final.
In many cases the owners get carried away by a fever to obtain the maximum benefit and offer a sale price that is well above what can be considered as realistic. This causes a house that may interest a high public to have a barrier, the price, that prevents it from being able to close the sale in the appropriate time.
This fact causes that, after a prudential period, the value must finally be reduced, having lost valuable time in between visits, promotion, etc.
2.2. Provides as much information as possible
We are not in the s. XX. A flirtatious message in the newspaper in which we indicate in a few words what we sell and leave in the contact number the rest of the information that those interested want to obtain, means that many of those calls / visits to the agency are unproductive due to such simple circumstances. of being resolved as showing that information that the user was missing.
For this reason, when advertising a property for sale, we should not settle for a standard description: the more elements we include that give as much information as possible, the more capacity to impact.
Today we have the possibility of creating image galleries where each corner is appreciated, as well as videos and even the novel possibility of recreating a virtual tour of the property for sale, where not only do you see each space in the house, but In addition, the feeling of touring it completely is recreated, being able to know the distribution, situation of each room, lighting, etc.
2.3. Do not have the same consideration with all properties
Surely you have processes that determine how to advertise the sale of a property: how to make it visible from when it enters the portfolio, to which sites to upload it, where to advertise it … Processes that must be controlled and that allow the visibility of each house for sale to increase.
Despite the fact that carrying out this control is vital, we should also not take into consideration a house “of which they are sold alone” in the same way as one whose characteristics or whose price is not attractive enough.
Perhaps it is not within the commercial interests of the agency or it is not possible through the media, to provide all the properties with a video, complete and detailed image galleries, etc. But it would be effective to add these specific elements to those properties with less output or that are showing that they need more information. In this sense, a virtual 360º tour is the most effective response.
3. Time to sell a property: average by provinces
We already know how we can reduce the time to sell a property, but what average figures do we face depending on where we live?
As a general rule, it takes less time to sell a property in large cities than in small or rural towns. Thus, if we focus on data from the Spanish real estate market, the general average is 6 months after the “for sale” poster is hung, a period that reduces to 4.5 in urban centers close to one million (Valencia, Seville, Bilbao) and much more drastically in large capitals.
In the case of Madrid, the average is around 3 months, while in Barcelona, according to Vanguard data, high demand produces sales in just 38 days.
But beware: we are talking about average times but also about average procedures. The vast majority of homeowners who take advantage of these low periods of market exposure do so because they have professional help, support and tools. Does your agency have all the means to do this?