Rentals Homes

It is probably a good piece of property, and maybe you’re wondering why you haven’t received any serious inquiries or offers. This is, unfortunately, quite a common situation these days. The property market has never been totally predictable, but there are certain guidelines one can follow.

People who want to buy a home or are looking for rentals homes have become very aware and choosy. There may be hidden factors that can be directly responsible for the poor response. A panel of consulting property professionals gives us some clues on the matter. The points they raise are rather thought provoking.

The Location Factor

We have to think beyond the obvious. If a home does not sell or rent out, one is usually tempted to assume all sorts of things, but location is always a decisive factor in the non-sale or rental of a property.

How does one differentiate between a good and bad location

A good location offers a quiet, dignified neighborhood, easy access to household retail outlets, schools and post offices in the vicinity, and suitable transportation facilities. A bad location is noisy, has garbage dumps too close to the residential sector, possibly a high crime rate, and no facilities such as schools and shops nearby. It’s as simple as that.

• Since one can obviously not change the location of a property, how can one remedy such a situation

If the location is not an attractive one, there are only two things that can be done – lower the sale or rental price or add some attractive features to the existing property. In either case, there will be a certain loss on the expected financial returns.

• What would such add-on features comprise of

Anything out of the ordinary for the existing neighborhood. One can install a solar water heating unit, a Cable TV dish antenna or a private garage. The place could be furnished with a fully equipped home office and be painted in more distinctive shades. If such features are offered, the sale or rental value will rise a lot.

Client pscyhology – Depersonalization of the property

There is another reason why a house may not sell as quickly as desired. You must understand a vital aspect of client psychology that really impacts the speed with which home sales and rentals homes move – a client is looking for a home that can become a part of his or her personality. This is why new properties are in such high demand, even if they cost much more. The client does not want a pre-existing household atmosphere that has to be continued. If you want to sell or rent out a slow moving home, remove all signs of the previous owner’s identity. This includes the removal of religious pictures, idols and altars, furniture (unless the flat is advertised as ‘fully furnished’), kitchen implements, posters, slogans, curtains, etc. The prospective client wants the flat to be a blank canvas that can be painted on according to individual taste.

• Does this mean that the home should have absolutely no homely features at all

Not at all. It means that the walls should be bare of all old decorations, but painted in a pleasing color. It means that there should be provisions for curtain mounting over the windows, but no curtains. There should be no lingering smell of recent cooking or stale garbage. The place should reflect newness even in its smell - the smell of fresh paint and varnish conveys newness.

In other words, it should have no pre-existing personality to offend a client with. People are not interested in your views on home making – they have their own.

The Realtor – Your Representative

Every person who wants to encourage the sale or rentals homes should use a realtor – and he must realize that the personality, approachability and friendliness of the chosen realtor are of vital importance. This does not concern itself with professional competence – most realtors have that. What else should one look for, then

When you’re choosing a realtor to sell or rent out your home, ask yourself whether he or she is the kind of person you would buy or rent a property from. Every door-to-door salesman knows the basics of being pleasant and non-offensive. Unfortunately, most real estate professionals do not. Many realtors tend to be brash, pushy and in a great hurry to make a sale. Such an attitude can deter potential clients.

• How can one choose a realtor with the right attitude and approach

Engage him or her in conversation. Look beyond the professional qualifications and certifications. If he or she is easy to talk to, forthcoming with any information you ask for, and ready to give you all the time you want before you make a final decision – you’ve found your realtor. If, on the other hand, you’re made to feel that his or her time is more precious than yours, or that your lack of knowledge and experience is being highlighted, forget the person. People responding to a sales or rentals classified ad placed by such a realtor on your behalf will be subjected to the same attitude and might decide against buying for that reason alone.

If your home has been a non-mover on the sales and rentals market for too long, you would be well advised to consider the factors mentioned above. The reasons may go beyond the obvious ones of wrong price, market conditions and condition of the home.

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