The further from the norm a unique real estate is, the more difficult it tends to be to locate a buyer, but that doesn’t mean you shouldn’t lean into what makes the property unusual.
Trying to hide a property’s quirks or pass them off as normal is almost guaranteed to fail, and when it does, buyers will see your sales tactic as disingenuous.
Understandably, the features that make the home particularly unusual aren’t going to appeal to every buyer, but in an effort to keep her target audience as large as possible, Caruana prepares for the possibility of buyers wanting to make changes.
With unique homes can come issues of functionality, so I always like to be very prepared with quotes to change, fix, or modify anything that I think other people may not like.
What makes a piece of real estate unique?
A unique home is one that is not like the majority of homes in a given area. A few of the most common things that make a home unique are the value, the layout of the home, or the number of extravagant upgrades.
Some of the common characteristics of Real Estate Markets are given below:
- One of the beneficial features of real estate is that it produces relatively consistent total returns that are a hybrid of income and capital growth.
- The income return from real estate is directly linked to rent payments received from tenants, minus the costs of operating the property and outgoing mortgage/financing payments. So, you can understand how important it is to keep your property as full as possible.
- Capital appreciation of a property is determined by having the property appraised.
- A bond that has a fixed maturity date, an equity real estate investment does not normally mature.
Selling a Unique Home Requires Unique Marketing
The importance of hiring a top-selling real estate agent who knows how to market homes is vital when selling a home, regardless if it’s unique or not. When selling a unique home, however, unique marketing must be involved, end of story!
If a real estate agent is hired to sell a unique home who doesn’t know how to or doesn’t put forth the effort to use unique real estate marketing techniques, there is a strong probability of home sale failure.
Whether it’s unusual features or outlandish architecture that makes the property unique, special consideration will need to be taken when valuing the property, and if a home is truly bizarre it may not be worth nearly as much as its loving owner believes.
An atypical property is likely to have a more specific buyer, so before any marketing takes place it’s important to understand who the potential buyers are, and how to market to them.
For example, a bespoke beach house is going to be highly appealing to somebody who’s accustomed to coastal living, and probably enjoys swimming, surfing, fishing, boating, or all of the above.
The more unusual a property is, the harder it may be to identify the target market, but as long as someone once had the desire to build it, you can all but guarantee that someone else will have the desire to buy it – it’s simply a matter of finding them.
The majority of home buyers are using the internet to shop for their next home. In fact, buyers are judging a home before they even step foot onto the property.
It’s vital that when selling a unique home, the agent is either hiring a professional photographer to take high-quality photos or knows how to take high-quality photos. If a real estate agent takes out their smartphone to take photos of a listing, it’s a clear sign that you’ve hired the wrong real estate agent.
Selling a unique home definitely requires a few additional steps to be taken and also the proper advice to be followed. The above tips for selling a unique home are some of the most important. It’s very important when selling a unique home, whether it’s a multi-million dollar waterfront home or a home with a strange floor plan, that these tips!