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Selling Homes in Unpopular Locations

A recent New York Times article (For Some Brokers, Location is Relative) stated that "...just as every defendant deserves a lawyer, every home deserves an advocate." That same article shared stories of real estate agents who found very creative ways to sell homes in less than ideal locations. And when we say creative, we do not mean dishonest. If anything, honesty is essential in such situations and so is a sense of humor, as one interviewee notes.

The article centers on real estate professionals in New York City, a place where competition is fierce for not-so-great apartments and houses because there is so much demand. However, even New York City was not immune to the economic downturn.

Prospective home buyers in New York City are willing to consider less than desirable properties after putting them to the test. Noise level has been vetted by visiting at night or asking loved ones to weigh in on whether or not it is acceptable. And as a real estate professional, you can encourage this type of exploration. True, some will be turned off and not buy afterwards, but you may find someone who decides that they are okay with something that other buyers think is not acceptable. With a hard-to-sell property, it may be better to let people try it out (within acceptable limits) than to not make any concessions and have the property continually be turned down. You never know: a prospective buyer could find even more reasons to like the place.

The article ends with a particularly aggressive real estate agent saying that "there is a buyer for every product." This woman takes on the properties that others do not want to sell and manages to find buyers for them. For example, an apartment that is near the highway or train tracks may also be close to someone's job. One woman the reporter spoke to was okay with highway noise because she thought it was better in comparison to the sound of sirens that was common in the area where she lived as a child.

Accentuate the positive.

 

Comment balloon 0 commentsJerry Mcclellan • May 20 2010 06:17PM
Selling Homes in Unpopular Locations
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