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To many Filipino home buyers, bigger is always better. People simply want properties that have plenty of rooms and sprawling yards. That’s why the challenge for real estate agents is a tough one: you don’t always have big properties in your selling list. In fact, you probably have a lot more small ones, like condos and bungalows. Nonetheless, it’s not impossible to draw buyers into your tiny abode.
Here are some real estate marketing strategies you may find helpful:
Search for the Right Buyers
A small property isn’t for everyone, in the same manner that a big home isn’t everyone’s cup of tea. In the selling game, it’s always important to know who you’re selling to. Otherwise, you’ll be casting a big net, which will not turn up promising leads and results. When selling a small property, one ideal client is a single professional, someone who has the buying power but doesn’t need that much space.
Another ideal buyer is a young family, perhaps a couple who doesn’t have a kid yet or one on the way. Since they’re still starting out, there’s a good chance that their lifestyle won’t require more square footage, and their budget is suited for just enough space. Highlight in your listings, blogs, and flyers the kind of buyer that will benefit most in the small property. This way, you can catch the attention of your ideal audience right away.
Do take note though that your target buyer may need some persuasion. There are young couples who would want to go straight to a bigger home and stretch out their budget — even if they don’t necessarily need the additional space. Give them reasons to start small, such as upgrading their property when they’re able to build equity, or turning their tiny home into a rental space once they’re financially ready to a bigger home. Recommend applying for a Pag-IBIG or GSIS housing loan in financing their next purchase.
Stage the House Carefully
The size of the home is partly influenced by perception. Some spaces aren’t exactly bigger, but appear larger because of the clever interior design. So in doing real estate marketing for small properties, you need to do some good house staging. One way you can trick the eye is to use very light colors, as it makes the room feel open and airy. It’s also important to make the space well-lit for the same reason. Let in plenty of natural light. Place lighting fixtures in strategic areas, like corners and entranceways.
Use mirrors to reflect light and make the illusion of more space. Place them in front of a window or near it. Or, pick a focal point in the room and then direct the mirrors towards it. After staging it, snap professional-looking pictures and update your listings.
Stress the Good Features
While a small space is generally not good, you have to remember that that’s just one part of the property. There are a lot more amenities that can prove enticing to buyers, so highlight them one by one. Perhaps your condo is in a high-end neighborhood. Or maybe, it has a 360-degree view of the city. It’s probably surrounded by top schools in the metro or restaurants and attractions your target clients love. Maybe it only takes a five-minute walk from a train station.
These awesome features can make hesitant buyers reconsider your property. That is, if you stress them enough on your online listings, especially.
Sell “Tiny Living”
Aside from the property itself, it’s worth highlighting the benefits of tiny living. For one, there’s less cleaning and maintenance. Homeowners will not spend too much time, energy, and money cleaning rooms that only get used once in a blue moon. This means your client can focus more on other things, like spending time with the kids or traveling. A small space is also very intimate. Family members won’t be cooped up in their respective rooms; they will instead gather in shared areas. It makes for better bonding time.
As more people go eco-conscious, emphasize the environmental benefits of a small house design. Living small means less energy spent, and therefore less impact on the planet. And finally, emphasize the financial rewards of going small. With more money in their pockets, they can enjoy other things, going out of town every once in a while or taking out a new car.
Got a small property in your selling list? Don’t let the market’s cold feet dishearten you. It’s possible to market these with success. Remind your buyers: bigger isn’t always better.