If you look around the Internet you will see an array of different ideas, strategies and suggestions with regards to real estate investment and development. Many of these strategies will have you investing significant time, money and effort in eye-catching decor, the latest technology and the latest must have gadgets. However, there is a growing opinion that in order to be successful in real estate you need to stick to the basics and give your customers a canvas on which they can add their own personality.
The beauty of the investment arena, and especially the real estate market, is the fact that we are all very different, we have different views, different opinions and different styles. Trying to appeal to a particular area of the investment arena will by definition make your proposition less appealing to the rest of the arena.
Keep it simple
While some mention a “blank canvas” on which to sell real estate, whether for rent or for sale, this is perhaps a little too basic. You need to give a house a particular style and a particular character while allowing potential buyers/tenants to come in and put their own stamp on the property. This may be particular colours, particular items or indeed small adjustments to the interior of the property. If you are able to prompt the imagination of would-be buyers/tenants then they are likely to come back and take more interest.
Quote from PropertyForum.com : “What are the main issues for real estate in 2014?”
Don’t dictate style
If you look on the Internet you will see many suggestions for the right colours, the right styles and the right decor for homes. The truth is that many of these websites are perhaps based upon the same age-old ideas and the more that these ideas are repeated and republished the more they take on a “factual” role. The simple fact is that there is no perfect style, decor or colours to use in a property for sale or rent and again you should look to allow your clients to add their own input.
Appeal to the widest market possible
As we touched on above, if you look to a specific area of the investment market and specific clients then by definition you are alienating yourself from the majority of potential buyer/tenants. You should therefore look to appeal to the widest market possible while offering each and every segment of that market something which will catch their eye and make them think again. This is not easy and it will take time but the more competition for your property the better return for you.
Speak to your potential buyers and tenants
Many real estate investors set out to dictate colours, styles and decor to their potential customers when perhaps the simple thing is to ask people what they want? There is no better market research than speaking to your potential market, asking them what they would like to see rather than assuming they want a particular style and potentially getting it all wrong.
Those who are successful in real estate keep it basic, keep it simple and while each property does need to be created with a particular character, you do not need to dictate the decor and the internal style to customers. Give them a strong canvas on which to put their own footprint and allow them the freedom to create a dream home for themselves in their mind.