As a homeowner, the process of selling a property may be overwhelming and a huge cause for concern. Selling a home is notoriously regarded as a long and complicated process, especially with the current competitive environment. As such, many feel discouraged when their house stays in the market longer than they expected.
However, this situation can be fixed with a few adjustments. According to real estate agents, getting your property off the market is not a daunting task at all if you have these tricks up your sleeves. Here are 5 tips and tricks to expedite the process and enhance the chances of selling your home fast and effectively.
1. Dress-up your property
When it comes to marketing your house, nothing is more important than a good first impression. In fact, more than 80% of purchasers will judge a house by what they see the first time they set foot in it. Therefore, ensuring the condition of the house is sellable by fixing the defects and beautifying both the internal and external of the house is crucial. According to Polygon Properties, the chances for purchasers to choose your house over your neighbours’ is higher if your property looks considerably better. They might even be more willing to pay for the price you’ve demanded.
“We believe ‘love at first sight’ when it comes to viewing appointment. Unless it’s marketed at a much lower price than to the market value, a property with run down condition may face a hard time to sell,” advices a Maxxan Realty representative.
According to UEM Realty, value is one of the main factors that many overlooked. A very simple approach is to provide more value in terms of furnishing, furniture or presentation of the house.
2. Engage a professional real estate agent
It’s always a good idea to hire a professional real estate agent. Regardless whether they’re experienced or not, getting the help from real estate agents will be beneficial as they’re committed to you, and are willing to spend their effort and time in promoting your property. “It’s advisable for home owners to follow up with their agent closely and strategise their move with one aim in mind – to sell the house quickly,” said a representative from Polygon Properties.
However, an agent from Maxxan Realty warns owners to not engage brokers or unlicensed entities under BOVAEA. This is to protect the purchasers as well as owners from getting involved in any possible legal cases.
3. Be open for negotiation
Home owners should be ready and willing to negotiate for the price offered. During this challenging time, taking a slight cut from the profit is better than losing the opportunity to close a deal altogether.
Also, make sure the property is sold at a reasonable market price. Buyers are more tech savvy these days – a simple click on iProperty website can quickly tell them which is the best buy. Hence, if your selling price is much higher than others, it will definitely take much longer to get your property off the market.
According to Chester Properties, it’s important to ensure that your property is selling at a competitive price. “We understand that home buyers wouldn’t want to purchase overpriced property. Therefore, as real estate negotiators, it’s our responsibility to advise the seller on the most accurate market price or market asking price, along with the valuation figure as a supporting document.
“This will ensure that the property is competitive in the market. In addition to that, agents from EUM Realty also agree that the key to selling quickly is positioning where you must first identify your competition and then set your selling price reasonably.
4. Opt for multiple marketing channels
All homeowners should encourage their agents to market their property using multiple marketing channels, be it online or offline. This is done to increase the chances of finding the right buyer. Therefore, it is crucial to pick an agent who’s well-versed in a variety of marketing channels so the property gets all the exposure needed for it to find the right buyer. Agents should have the expertise to market face-to-face, on the website, over a phone call and more.
5. Understand the property and market
This might sound trivial, but owners must understand the advantages of their property has over their competitors. They also should be well-versed with the demand of the market so they can price their property effectively. Overpriced property will always discourage potential buyers to even visit the property and make an offer. This results in property owners losing their leads and opportunity to sell the house.
Written by Rubaa Shanmuganathan