Why Less Expensive Properties are Difficult to Find Online When Searching for a Property

Why Less Expensive Properties are Difficult to Find Online When Searching for a Property

  • Nowadays very few people still roam the streets looking for a property when there are online real estate portals
  • For properties less than about 600 cedis, it can be difficult to come across them online because of the demand for them
  • To make more money, many real estate agents will rather list the more expensive apartments compared to the cheap ones

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The real estate sector in Ghana is a seller's market. This means that many people are rushing for the few properties available, making apartments very costly in Ghana. For agents, this also means that the properties that they advertise online will attract a lot of people.

An affordable compound house in Accra
An affordable compound house in Accra. Photo credit: Getty Images. Source: Getty Images
Source: Getty Images

That notwithstanding, it is quite difficult to come across cheap apartments for rent in Ghana online. YEN.com.gh lists reasons why this is the case.

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Expensive Properties Stay Longer on the Market

For most real estate agents, it is not worth it to go through the tedious process of listing cheap properties online when it will be taken in a matter of hours or a few days after being posted.

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Since expensive properties stay longer on the market, the long process of listing online is worth it. When the deal is closed, it comes with some good cash as well.

Most Cheap Houses are in Bad Neighbourhoods

One major factor that influences the price of properties is the location and neighbourhood it is in. Most cheap apartments are in bad communities where it may be difficult to capture the beauty of the area. For this reason, real estate agents feel it is not worth it to list the property online.

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Getting Calls for Less Expensive Apartments

Agents always get calls from property seekers who make enquiries about less expensive apartments than what the agent may have advertised online.

It will make sense then for agents to concentrate their efforts more on listing expensive properties, which in the end will be like advertising multiple properties but with the effort of marketing only one.

In the same vein, YEN.com.gh wrote an article about how real estate agents can land their first client. Making the first sale is always the hardest part of starting a business. Yet, one does not have to wait for long before making money.

There are some practical steps to follow which will ensure success in the shortest possible time.

Source: YEN.com.gh

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