I received a tremendous amount of positive feedback from last week’s Lets Talk Real Estate in the Freeport News which gives me hope that many people on this island still believe that we can turn this city around if The Government, The Port Authority and ALL The People work together as a TEAM. As they say TEAM stands for Together Everyone Achieves More! All stakeholders, which is everyone, must bring their energy and enthusiasm to the island to act as a catalyst to bring the “magic” back to Grand Bahama. The opportunity and potential exists it's just a matter of how to achieve it.
That same strategy of combining energy, enthusiasm, and attention-to-details works to create a critical mass of good impressions that can help you get a “sold” sign up on your house.
Here are a few simple tips and strategies that can add up to a big bold SOLD sign going up at your house:
Boost Curb and Canal Appeal. Paint. Plant. Upgrade doors, windows, and cosmetics. Clean, clean, clean!
Make Big Fixes Where Possible.
If your budget allows, invest in bigger “make or break” rooms like bathrooms and kitchens, because they make the biggest overall impression. If your budget is more modest look for ways to paint, modernize, or freshen up the looks of these key rooms. We have skilled craftsmen on the island and local stores that can help.
Transparency is Golden.
Getting a preliminary professional home inspection and sharing it with potential buyers may help them understand a home’s condition and reinforce that everything is being done in a trustworthy and responsible manner. Make sure to be clear about recent improvements that have been made, and provide estimates on other optional upgrades – especially ones that can be included as part of the agreement.
Go the Extra Mile.
Make the necessary repairs. Do whatever you can to make your house stand out. You usually only have one chance to make a first impression - so make it count!
Be Realistic with price.
Selling in a buyer’s market takes skill and strategy. In Freeport, increased inventory has given buyers the opportunity to be selective in the property they want and the price they are willing to pay. Properly priced homes are selling and a good agent will help determine what that price should be. Also understand that it normally takes a bit longer to sell a home in a buyer’s market than in a seller’s market. Sellers often take great pride in their homes, but it is important to set a price based solely on factors like location, condition, and size. It does not matter what you paid for the house, what you want to get for the house or what your neighbors rate selling their property for. Everyone property has true current market value and that is all your house is really worth IF you want to sell.
These are just a few tips to help you sellers get prepared for this buyer’s market. So, even though things may be looking pretty quiet in Freeport right now, hang in there, because I believe that we are at a tipping point and if a few key things happen on the island then we could be on our road to recovery and your house can and will sell. I understand that not only will Sunwing be flying five days a week from Canada but that there may be flights coming from Germany as well. The Europe direction could be very good for the island. Everything moves in cycles and I think the magic can and will come back. Let’s all get on-board and stop the pessimism about our future. It’s up to you. As they say Believe it and you can Achieve it.
Until next week.