You’ve heard it forever – the three most important things in real estate are location, location, and location. Get-rich-quick investment gurus advise you to buy the worst home in the best neighborhood. Agents advise their buyers to choose wisely because they can change almost everything about home but its location.
That’s all true, but what if you have a listing client whose house is in an undesirable location?
If you took the listing, you want to sell it, and you want to get the best price possible for your sellers.
The first step has to be giving the sellers a realistic market analysis – one that takes the location into account. A house in an undesirable location is not going to sell for as much as a house in the location everyone wants. That’s just a cold, hard fact.
Next, put on your thinking cap. There’s a buyer somewhere for this listing, and it’s up to you to figure out who that buyer will be.
First, think about what makes the location undesirable.
Then remember that what is undesirable for one may be very desirable for another.
Next, think about the potential buyers for whom each problem might actually be a benefit.
For instance, a house surrounded by run-down houses might make a perfect home base for a developer interested in buying and rejuvenating the surrounding houses. Or – for a developer who already owns one or more houses nearby.
A house next to a cemetery is perfect for someone who likes a quiet neighborhood and doesn’t like the idea of a big development coming in right next door. A cemetery pretty much guarantees that won’t happen. It offers stability and predictability. Of course, there are people who are afraid of cemeteries.
If noise is an issue, the reason for that noise might lessen the impact. You just might be able to turn the source of that noise into an advantage for a certain kind of buyer. For instance:
- Being close to downtown and the night life could be very desirable for young professionals who want to participate in that night life. It could also appeal to those who love being able to walk to
restaurants, art galleries, and boutiques. - Being near a stadium or other event venue could feel like heaven for a sports enthusiast.
- Being near a hospital could offer comfort and security to buyers with precarious health.
- Being close to a 24-hour business with steady traffic might mean it’s a perfect location for your buyer’s home business. It also might be a convenience for someone who works a swing shift and likes to stop somewhere for a snack or a jug of milk on the way home.
A house is on a busy street or a home in a mixed-use or commercial zone might be perfect for a buyer with a home business that depends on people seeing and finding them.
If the house is at the edge of town, possibly on a gravel road, it could be perfect for someone who wants privacy, who works at home, or who wants a big garden.
If it is outside city limits and has a few appropriately zoned acres, it could be just right for someone who owns a horse, keeps chickens or goats, or wants to open a dog boarding kennel.
When you write your ads, don’t apologize!
Instead of focusing on what’s wrong with the location, focus on the benefits of that location. For instance, the gravel road could be a benefit because it indicates a slower paced life, and it (usually) means people drive a bit slower.
What can the homeowners do to help sell a house in an undesirable location?
They can put the house and the yards in the best possible condition. A clean, neat, well-maintained house will stand out no matter where it is.
They can work hard on curb appeal so the first impression when people drive up is a positive one. First impressions set expectations and they affect how we perceive the rest of what we’re about to see. If they see “wow” in the yard, they’re likely to see it again inside.
If there’s room in a back yard, they can create a personal hide-away retreat. Let visitors see a serene
place to relax after a busy day – and envision themselves enjoying it.
Then they can go inside and make sure everything is sparkling clean, de-cluttered, and well organized. If finances allow, they should hire a stager.
For tips on making that house shine, visit Helping your sellers in a buyers’ market – Copy By Marte
If you get stuck while trying to write a tough property description…
Get in touch. I enjoy working out the puzzles that such properties present.
Meanwhile, visit my property description page for tips on writing that attention-getting description.
