The scenery is better and the gentle ocean breezes are second to none, but trying to sell real estate in the Bahamas can be just as challenging as in other parts of the world when the real estate market is in a downturn.
During these recessions, doing your research to find a qualified real estate agent and taking special steps to market your real estate effectively can mean the difference between a property that sells for a fair price in no time and a property that languishes on the market. said Rachel Pinder, director. Island Living Real Estate broker in Nassau.
Brenda Knowles, a broker with Island Living Real Estate, suggests that property owners ask a prospective real estate agent these questions when considering the best person for the job:
o How will you market the property?
o What is the history of your company?
o What is the previous/realtor experience of your agents?
o How long have they been in business?
o What is the current market trend?
o Do you cooperate with other real estate agencies?
o What changes should I make to my property to make it competitive in today’s market?
In short, sellers need to figure out how the real estate agent intends to market their property, Knowles said. There are several marketing standards that most real estate agents employ when listing properties, so it’s critical to get to the options that set one real estate agent apart from the rest.
It’s important to remember that the best marketing plan can’t do much; a homeowner should follow the advice of his real estate agent to keep his property looking its best, Pinder said.
“It seems counterintuitive to put money into a house you’re trying to sell, but as many TV shows on the subject show, you can really get a better price on your house if you put a little money into making it.” it’s attractive to a broad spectrum of potential homebuyers,” she said.
Here are some easy and relatively inexpensive tips:
o Make sure the house is freshly painted in neutral colors.
o Remove personal items, such as family photos.
o Make minor repairs: patch holes in walls, fix cracked tiles, replace broken windows, etc.
o Get rid of clutter, inside and out
o Clean, clean, clean
o Give your front entrance some curb appeal by adding colorful flowers.
Another tip to remember is to price the property correctly.
“Don’t try to overprice your house in a down market,” Pinder said. “Will not be sold.”
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