In 2017 the Dallas metro population grew by more than 1,000 people per day. That impressive growth didn’t stop and last year the area gained more residents than any other metropolitan area in the country.
This influx of people is excellent news for property owners in the Dallas metro area. More people means more buyers and renters, which can lead to more income for you.
But this doesn’t mean you can slap a sign on your house and call it a day. To get the most for your property, you need to know how to market it in this changing climate. Use these tips to get the most for your home.
Price It Right
Even though the market is hot and buyers and renters are plentiful, you still need to price your home correctly. You’ll need to research the market and your neighborhood. Compare your home to similar homes that are renting or selling.
If you decide to rent your home, you need to price your home in a range that will attract desirable renters. Go too low, and people will assume there’s something wrong with your home. Price it too high, and you’ll shrink the potential renter pool.
Stay Competitive
With the number of people moving into the area on the rise, you also need to expect more competition from people looking to rent their properties. You need to do your research and find out what other homes offer. Do they offer amenities that your home doesn’t have?
This doesn’t mean you need to outfit your home with every feature and amenity you can think of. What it does mean is that you should think about your target audience and what amenities are important to them.
If you want to target families, then you could clean up the backyard and make it kid-friendly. Or you could include a membership to the community pool. If you want to target business professionals, maybe you offer internet included in the rent.
Be Personable
If you’re renting your home, you’ll need to set time aside to meet potential renters and show them the house. Remember that you are getting judged just as much as the home itself. You’ll turn people off if you’re rude or unfriendly.
Treat this like a job interview for you and your home. Arrive on time, stay professional, and don’t forget to smile. Presenting a friendly and welcoming demeanor will translate to your rental property.
Use Professional Photos
Home listings that use professional photos gain between $1,000 and $116,000 more than comparable homes on the market.
Create a story with your photos that lets the viewer imagine themselves in your home. This means removing anything that looks like personal belongings. People struggle to see themselves living in a home that already looks inhabited by someone else.
Next, you want the quality of the images to frame your home elegantly. The pictures should capture as much of the space as possible in the proper light.
Get Professional Advice
One of the best ways to market your property is to let the professionals handle it. They understand the changing market and can position your property to be appealing. This takes the pressure off of you.
Let the professionals assess your home and recommend strategic improvements. They’ll then research the market and neighborhood that your property is located in. This will enable them to price your home to be competitive.
If you decide to rent instead of sell, they can manage the property for you. This will include everything from researching tenant applications to hiring technicians to make repairs.
Contact our office today to have your property expertly managed.
