Kim Mullan Blog
The Unique or Niche Property- What Sellers Need to Know
Selling Unusual properties can be daunting especially in a conventional or traditional market place.
Sometimes price won't overcome patience while a niche property seller waits for the target audience that will appreciate their home in a way that will materialize in a strong offer.
The process can be long and drawn out while sellers see other homes in their price point turn over or watch properties they consider inferior change hands.
In a more conservative or conventional marketplace unusual layouts and customized spaces may create a smaller target audience - price becomes very important as the seller can't afford to be passed over by their niche buyer. It's vital that niche and unique homes are exposed to the largest audience and remain visible - the worst thing that can happen is to find out during a hiatus from the market that a niche buyer relocating to your area has passed through, made a buying decision and didn't know they had another home to choose from. This is especially true of high end homes.
Unique properties need to reach the largest audience possible to wade through the buyers perceiving quirks and obstacles and arrive at the purchaser who celebrates the character and personality of the property! Sometimes even a price change won't generate an immediate audience. Other times quirks, challenges & poorly received modifications are actually hindrances that can only be overcome by price.
This is when you need the guidance of a professional Realtor to assess your strategy, clarify expectations and mitigate obstacles. Selling unique homes/layouts can be frustrating & emotionally draining as a seller waits for showings that are few and far between.
Realistic Expectations, Patience, Presence & Pricing are vital to ensure that showings generate further interest and "go to paper" in a way that reflects value.