Realtors, let’s admit it — most houses listed for sale on the market look pretty much the same. Sure, they may come in different sizes, shapes and colours, but the basic layout, design and features often feel like deja vu.
However, every once in a great while, you may be contacted by someone who wants to sell their truly one-of-a-kind house. This could be a property with a distinct portability feature or a house with an unbelievably low price tag for its sheer size.
So, if and when you get the chance to sell one of these special homes, do you plan on using your usual sales approach?
We certainly hope not! Unlike conventional homes, unique properties have a limited buyer pool and distinctive features which means they need a special selling strategy. To guide you through this challenge, we gathered tips from top real estate agents on how to best sell these one-of-a-kind homes. Below are the strategies they shared.
Tiny houses: Small properties that don’t cost much
A tiny house is what its name implies, a small home usually about 60 to 500 square feet. They’re cost, energy and space-efficient and budget-friendly, too. In fact, prices of some tiny homes in Ontario have recently been as low as $69,000.
Who are the target buyers for this unique property?
- Homebuyers on a budget
- A rent-weary tenant
- Environmentalists and minimalists
What strategies can help sell this one-of-a-kind property?
Emphasize its unique value proposition. As stated, tiny homes are all about affordability and energy efficiency. So, this is what you must focus on during marketing. Here’s an example of how you can highlight the affordability factor of tiny homes to a tenant who is fed up with rent increases.
Let’s suppose you’re selling a tiny home in Toronto — a market where you can get a tiny home for under $100,000. First, show your buyer the market data of how the average asking rent for even a condominium apartment is quite pricey:
Then, point out that it’s not really smart to pay around $2.400 for a condominium apartment in Toronto or even settle for a $2,000 rental in Barrie (as reported for August by rentals.ca). Instead, they could buy the tiny house in Toronto with a 5.0 per cent down payment, pay around $500 monthly on mortgage payments and build their own equity.
When it comes to the energy-efficiency perk of tiny houses, also highlight it with numbers. For example, you can say that a normal-sized house uses an average of 26-33kW power every day but a tiny home uses just 3-4kW power.
Don’t let compact space be a dealbreaker for buyers. Kamal Pillai, a realtor in Ontario experienced in selling tiny homes, shares, “One main concern that tiny home buyers usually have is limited square footage. Hence, the seller of these houses should try their best to show that the home is thoughtfully designed to maximize every square inch.
They could achieve this by adding space-saving solutions in the home like a fold-out kitchen table or built-in storage. It’s all about making the most of what you have and presenting it in the best light possible.”
Price the home correctly. Unlike traditional homes, you don’t have much historical data to rely on for tiny houses, which makes pricing these properties trickier.
So, set a fair price for the tiny home by calculating the home’s construction costs and the estimated value of its unique features. Also, assess the current demand for tiny homes in the particular neighbourhood to make sure your price aligns with what buyers are willing to pay.
Houseboats: Homes on the water
Yes, houses on the water, also known as houseboats, can be found in the Canadian housing market. In fact, according to some houseboat owners, buying this type of property is one of the best lifestyle choices they have ever made.
A houseboat is a boat designed or modified to be mainly used as a living space rather than for transportation purposes. Some people live on houseboats all year round to enjoy the beautiful views of the water every day while others use them as vacation homes.
Who are the target buyers for this unique property?
- Nature lovers
- Homebuyers on a budget
- Real estate investors
What strategies can help sell this one-of-a-kind property?
Give the houseboat a clean and charming look. First impressions matter, even when selling a houseboat. So, advise the seller of the boat to deep-clean every nook and cranny of their houseboat before opening its door to buyers.
Pay extra attention to the kitchen and bathrooms, as they often leave the strongest impression. Also, if saltwater has caused rusty metal hulls in the boat, give it a fresh coat of paint.
Make sure the houseboat has no severe safety issues. Apart from fixing the aesthetic issues in the houseboat, make sure the houseboat doesn’t have any major safety problems.
To do this, hire an expert marine surveyor…
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