Being a successful investor is as much about knowing when to sell as when to buy. Selling a property might be a difficult process in today’s economic climate. It doesn’t matter if it is a house for rent in Melaka, or a house for sale in Seremban. By applying the right strategy, you can speed up the selling process. In this guide, we’ve compiled five tips to help you sell your home fast.
1. Set a realistic price
The economic environment today has led to slow real estate markets amid tight lending environments. Selling a house in such a situation can be a challenging endeavor. Thus, property owners need to be realistic in their asking price. The purchase price offered should reflect the current market situation and must be competitive with other similar properties in the vicinity.
Property owners can apply to banks and financial companies for valuation services. However, keep in mind that the values tagged through valuation can be much lower than the real value of the property. Owners can also take advantage of comparable, by checking out how much similar properties in the area sold for.
2. Hire the right real estate agent
Ensure you hire the right real estate agent to keep your stress levels low. Not all real estate agents are in it with the seller’s best interests in mind. Some nefarious agents that want to conclude the deal as quickly as possible have given real estate agents a bad name. Thus, be wary of the real estate agent or negotiator you hire. Do appropriate background checks on the real estate agent or negotiator. Make sure that they are registered and have ample knowledge of the property market in the area. Also remember to check the agent's property listings to see their history of closing sales.
Property owners can take advantage of the many real estate agents strategies. Sellers can work with multiple real estate agents, in essence multi-listing, in the early stages of selling. This helps sellers reach a wider pool of buyers. Evaluate the progress of each agent and eliminate them based on their attitude and performance. Once you have found the right agent that fits your ideals and needs, you can offer them the exclusive right to market the property, of course within a certain period.
However, keep in mind that agents may be less motivated to sell multi-listed properties. As they say, too many cooks spoil the broth. Multi-listing also has its cons, as a smart buyer can take advantage of these multi-listings and go to the agent wo quotes the lowest price, which in turn lowers your potential selling price.
3. Be honest, friendly and proactive
Sometimes, honesty is the best policy. It is important for owners to be honest and forthcoming with their appointed agents. Owners should furnish the real estate agents with all necessary information, including the reason for selling and history of the property itself. This helps agent get the big picture in order to find the best way to market and sell the property.
The owner should also build a good rapport with both the property agent and prospective buyers. Sometimes all property agents will do is post up their property listings and wait for prospective buyers to contact them. Owners need t proactively follow up and keep in touch with their appointed agents to keep tabs on the progress of the sale.
Property owners looking to sell should also be friendly with prospective buyers. This ensures a win-win situation for both parties. Once again, too many cooks spoil the broth, so property owners should leave price negotiations to the property agent to avoid any possible sources of disputes and confusion.
4. Enhance your home’s kerb appeal
A property’s appearance can make or break a sale. It goes without saying that nice kerb appeal can positively attract potential buyers.
There are many ways that property owners can take to achieve better appeal. Sometimes the easiest way is also the simplest way. Notwithstanding necessary renovations and repairs that you should make to the property, sometimes all a property needs is a lipstick makeover. Think about easy things such as a fresh coat of paint, newly replaced fixtures and clean and tidy landscape. All these things can be done with just a small amount of money. With these simple tasks, the property will look fresh, new and ready for occupation.
Be sure to fix all broken items and tidy up the exterior and interior before you show the property to interested buyers. Decorating the property with a temporary furniture set-up can also enhance the overall experience and ambience for the buyers. This helps buyers visualize what the property will look like once it becomes a home.
5. The devil is in the details
Property owners can increase the chance of closing a sale if they take some time and trouble to ensure the property is in a presentable condition. First impressions are usually what seals the deal. They can be nearly impossible to reverse. A good first impression will leave the buyer with peace of mind and will give the impression that a well-maintained property should be free of hidden defects.
Even if owners can’t afford to set up and decorate the interior, they can take other steps to ensure that potential buyers leave with a good first impression. Cleanliness is one such step and aspect that is often overlook. Toilets with stains and walls and floors that are dirty will leave buyers with an impression of neglect.