Why is it easy to buy property but hard to sell it?
Why is it easy to buy property but hard to sell it? This perception is often driven by various factors in the real estate market. While this opinion may not apply universally to all markets, there are some usual reasons why people might feel this way:
High transaction costs
Buying property typically involves significant upfront costs, such as down payments, developmental charges, closing costs, and fees for inspections and assessments. Selling a property can also demand expenses, including real estate agent commissions, resources for site visits, marketing persons for cold calling, and other closing costs. These costs can discourage some potential sellers or make it challenging to break even when selling in a short period.
Market conditions
The real estate market can fluctuate between being a seller’s market and a buyer’s market. In a seller’s market, demand for properties is high, and there is a shortage of available homes, making it easier to sell at a higher price. , in a buyer’s market, there is an oversupply of properties, and demand is low, making it more difficult to find buyers and potentially entail price reductions to attract them.
Timing of the deal
Buyers may have the flexibility to take their time and find the right property, whereas sellers often have deadlines or urgent reasons for selling, such as relocation, financial emergency, or changes in personal state of affairs. This urgency can put sellers at lower ebb during negotiations.
Inventory management
From time to time, buyers may have an oversupply of available properties than sellers have approach to potential buyers. This can create a situation where buyers have more options, making it easier for them to find an acceptable property and sellers have very less options to do so.
Financing challenges
While there are various mortgage options available to buyers, they may still face difficulties qualifying for loans due to credit issues, income verification, or other financial constraints. Sellers, on the other hand, are often more financially stable since they already own the property.
Property condition
Sellers may face challenges selling if their property requires significant repairs, development, and updates, reducing its demand to potential buyers. Buyers can generally choose properties based on their current conditions, and location preferences, and renovate them after purchase.
Regulatory and legal complexities
Selling property may require several legal and regulatory measures, which can be time-consuming and complex, depending on the location and other considerations. Buyers on the other hand may experience fewer difficulties and requirements in comparison.
It’s essential to note that real estate dynamics can vary significantly depending on the location, property type, economic conditions, and other factors. The perception of the ease of buying versus selling property may not apply uniformly across all real estate markets.
Seller’s expectations
Sellers may have higher expectations for the worth of their property, particularly if they have gained significant appreciation over the years or have invested in touch. An unreasonable pricing structure of property can discourage potential buyers and lengthen the selling process.
Closing costs and fees
Sellers often face significant closing costs, which can include real estate agent commissions, legal fees, and property taxes. These costs can impact the net profit they receive from the sale, making the deal less attractive for the seller.
Buying property from a non-professional realtor
When you buy property from a non-professional buyer it would be easy at the time of buying, but would be difficult to resale the property through the same realtor. It has many reasons; the non-professional realtor doesn’t have a designated sales team to resale property, they don’t have a social media portfolio, they don’t have the required resources, and they don’t have a required customer pool.
Difference in financial structures
When you buy a plot or house from a housing society, you can pay the due amount in 2 to 4 years of easy installment plans, while as a seller you can’t offer this yearly installment plan due to your financial emergency. This also makes it difficult to sell property as individual sellers.
Property Naama Consultants to take the challenge
Property Naama Consultants can cater to the resale needs of its valued customers for to following reasons:
- We have more than 75 sales representatives, designated for different real estate projects.
- We have business offices in eight major cities of Pakistan to fulfill the marketing needs of our esteemed customers.
- We have a huge customer pool because we have served more than 30,000 esteemed customers in a short span of 4 years.
- We receive 500-600 hundred customer inquiry calls daily in our customer care call centers.
- We have 5000 plus unique visitors on our official website daily.
- We have more than 700,000 followers on our social media handlers.
All the above-mentioned facts depict our credibility and customers’ trust in our marketing practices.
Contact Property Naama Consultants to invest in your future real estate portfolio to save yourself from the resale challenges we have discussed above.
You can contact us on our given WhatsApp number or through email or call to become a stakeholder in more than 25 top-notch real estate projects in the country.