Our lives change, as do our priorities, and this worldwide pandemic has highlighted that more than many other recent events. So, when your situation does change, and you need to sell on a property like a villa, condo, apartment, or townhouse, most want that to happen in a reasonable timeframe and at an acceptable selling price.
Real estate is a significant and immovable asset. Exiting can have liquidity implications on your life plans or situational changes you want to facilitate. Here are seven tips to help speed up your property sales process, and hopefully, make it as easy and as stress-free as possible.
Work with a Good Agent
We can’t emphasize the importance of this enough as your agent is responsible for pointing out all the positives of your property and downplaying any downsides. Do your research and choose an agent with a good reputation. While it might be tempting to list your properties with several agents, it’s a good idea to spend time to find the right agent with the correct skillset.
A good agent will offer you professional guidance in all aspects of a sale to ensure a smooth transaction. The agent is also responsible for informing you about taxes and other involved costs, ensuring that you know the right balance amount at the end. These amounts need to be factored in when setting the price and considering offers.
It’s also typically the role of an agent to vet legitimate customers for viewings. A good agent will emphasize key selling points and tackle any potential concerns or questions from the customer. A key understanding of particular condos and wider market trends are key in negotiations.
Fix A Fair Price
Before fixing a price, consult with your preferred local real estate agent. Do online research or check the papers to get an idea of the going rate for condos/homes in your area. While it might be tempting to price the property high and reduce the price later during negotiations, this strategy may put off potential buyers, especially if you want to sell your condo fast and could pass on sending that all important enquiry.
Buyers will be at many different stages during the buying process, many of the hot, ready to move buyers would have done their research and are well informed about property prices in your area. A high price might deter them from taking you seriously and proceeding to view the property. It’s sensible to keep the asking price as fair as possible and close to the price you want for the property. The price is the first thing that attracts potential clients, and a reasonable price is beneficial for all concerned parties.
Be Open To Offers And Sell Your Condo Faster
While this might sound counter-intuitive, sellers need to be open to offers and negotiations. Many sellers refuse outright if an offer is not in the price range they are considering. Often, a potential transaction is halted because of a blanket refusal when more negotiations might result in a sale. Make a counter-offer that’s acceptable to you to keep the communication open. In tough negotiations, it is essential not to get stressed and to stay pragmatic.
Also, with our agent’s extensive property selling experience, we have found that those first offers are often the highest. Sellers might want to consider that instead of waiting for a better deal to materialize later on.
Declutter For Best First Impression
Present your condo in the best possible light since a buyer’s first impression is critical. Buyers need to see what a fantastic apartment it is, and as they may be buying into a lifestyle as much as buying a property. Show them the kind of lifestyle they could have. Get rid of excess stuff, remove personal photos, remove or minimize bulky furniture that eats up space.
Make any needed repairs or minor maintenance fixes. Perhaps even give the walls a fresh coat of paint if necessary. Also, make sure that all appliances and electrical fixtures are in working order so that your home is ready to move in. You don’t want to give prospective buyers the feeling that they have to spend time and money fixing anything.
Ensure that the place looks neat, clean and has some warmth and personality. Small and inexpensive details such as matching bed linens, small decorations and a clean environment (i.e., dust-free, bug-free, clutter-free and odor-free) help make a positive impression.
Since most condo developments or houses inside villages follow standard layouts and sizes, how you stage your property, including furnishing and decorations, often makes a huge difference to differentiate your property from others. Even helping to justify your asking price during negotiations. Buyers will be more aggressive on offers with properties they feel they will need to put more investment into.
Ensure Excellent Photographs
Great photographs also help present your home in the best possible light, help support your marketing activity, attract more online views and enquiries. A great featured image will go a long way to attract potential buyers. It’s the first thing a buyer sees when researching online and needs to capture their attention in a split second.
Making sure rooms are well lit and photos taken at the right time of day. Professional photographers can help with staging and getting the lighting right, exteriors are often best in the late afternoon. A small investment into a photographer can go a long way with getting more qualified buyers and offers.
Drones are a great option for landed property to show off the exteriors and location. For condos, using a wide angle or fish-eye lens for interiors can make spaces feel open and capture more of the room.
Ensure that there’s no laundry lying around or dishes in the sink before pictures are taken. Stage each room down to every detail, so it tells an appealing story. Ensure photographs are taken from different angles to have options later to select the best among them. If advertising your property with an agent, some will include photos and marketing at their own cost.
It is challenging to sell a condo on the secondary market without showing the place to prospective buyers. Showing and accessing the property at a “moment’s notice” is an essential but often underrated and overlooked factor.
If the property is rented, negotiate pre-agreed viewing times/dates with the tenant or ideally wait for the tenants to vacate. Also, preferably keep access keys and keycards at the juristic management office or allow your selling agents to keep spare keys and access cards.
Utilize Remote Viewing and Virtual Tours
Remote working has now become a common global trend, and this is something also certainly true of the property market with buyers now more prepared than ever to complete remote purchases.
Having easily accessible online viewing tools will provide a much greater outreach and competitive edge over the market. For larger condo properties and detached houses, to make them stand out from the crowd, it’s worth going the extra mile and taking virtual tours, 360 and video content. All of which can be used in conjunction with your online marketing. Potential buyers, given the chance to view the property online using a 360 showcase or virtual online 3d tour tend to lead to higher qualified and engaged enquiry.
Good luck and happy selling! Should you have the need to sell or lease your property, feel free to contact us to discuss how Hero Realtor can assist you to list and sell your property in the Bangkok real estate market.