How do I sell my home?
If its a high crime area where I own,
How can I overcome?
The high crime neighborhood I’m from
And sell the house that I’ve known.
There are many books, articles and brochures available showing people how to sell their homes. They offer tips, tricks and techniques to get the most for their homes.
But one assumption flows through all these books (many best-sellers) and articles. What do most of them assume? I am glad you asked.
They all assume you live in an average neighborhood. You know the Leave it to Beaver, Mayberry or George Jefferson type neighborhoods. Have you noticed that? Or at best they assume you live in the average middle- class neighborhood.
But what if you don’t fit any of those molds. In fact what if you live in a high crime neighborhood. What do you do? I sold my first two homes in high crime neighborhoods, so I can speak from experience.
There’s not many real estate sales books that tell you how to sell your home in a high crime neighborhood. In fact, selling a home in a high crime neighborhood is the most challenging for obvious reasons.
No one chooses to live in a high crime neighborhood, much less buy in a high crime neighborhood.
But if someone did buy a home in a high crime neighborhood it’s usually for the following reasons.
1. It’s all the person can afford.
2. It’s close to job, family or other social reason.
3. It’s for investment purposes. A way to start as a landlord.
4. It’s a way to expand one’s real estate portfolio.
So we’ll touch on each of the 4 reasons and I’ll show you how to make your home more attractive to the 4 types of people that is the most likely to buy your home.
I. It’s All The Person Can Afford
This is the person or couple who is just starting out; they’re tired of renting an apartment. But they can’t afford a home in a better neighborhood.
You can appeal to this person by pricing your home or structuring your offer to appeal to this first time buyer.
Adding or having certain amenities first time buyers like newer appliances, flooring and cabinets can help to sell your home in a high crime neighborhood. And of course good fencing and lighting. Your house should look and feel safe.
II. It’s Close to Job, family or Other Social Reason.
With gas prices and travel expenses rising everyday, more people are wearing down having to commute 2 hours a day.
Fortunately if you live in an urban area you’re most likely already close to where these people work, commute and even go for entertainment. So, this is a case where location will attract this buyer.
III. It’s for Investment Purposes. A Way to Start as a Landlord.
Your home attracts this buyer as a starter investment. A way to enter the real estate investment game. They usually don’t have enough money, credit or experience to buy in a more expensive neighborhood.
So, your home would be a perfect choice for them to start and get their feet wet. You’ll want to make your home attractive to this buyer by making your offer low enough to attract them.
They’ll have to see the financial benefit to on paper. Especially if you choose not to fix the property up or if you’re in a hurry to sell.
IV. It’s a Way to Expand One’s Real Estate Portfolio.
I call these the seasoned investors. They always have an eye out for a good deal. Neighborhoods don’t usually scare them. What scares them? Overpriced properties they can’t make a profit from.
So, if you want to attract them you have to sharpen your pencil and make them an offer they can’t refuse.
Your Secret Weapon
Now that we’ve discussed the buyers you’ll want to attract, I’ll now discuss the secret weapon you must have in your corner. That secret weapon is you agent.
But wait! I don’t mean any agent. I mean a top gun agent for your neighborhood. How do you know he or she is a top gun agent?
Easy, but you’ll have to do a little homework. You simply look, ask and check.
Look at the real estate signs within a 3-mile radius of your home. Each sign usually has the company and the agents name, make a note of whose name keeps turning up.
Ask for referrals from people you know have sold their home with that agent (Note: All top gun agents have referrals).
3. Check …
Check if your top gun agent is equipped to sell your home? Which means does he have the attitude, motivation and belief he can sell it? Does he or she give you the confidence he or she can sell it?
Now take all these tips and add your own motivation and work with your top gun agent. You’ll have a much better chance of selling your home in a high crime neighborhood. Your agent should keep you informed of market conditions, interest rates and buyer response.
The key is to make your home attractive to as many of the 4 buyers contained in this message as possible. You’ll discover your home will sell faster than you think by following these simple tips.