Like any property home seller you want to have the highest price possible for your property.
The question is how to do you achieve that in a reasonable manner? There are hundreds of articles and blog posts on Google written by ‘so-called’ experts but we have literally sold more than 400 properties since 2015.
So if you would like to get actionable tips that work read on!
1: Paint Your Property White
After more than 1 year trying to sell their property with another, Josh, the property seller had enough. He decided to call us in and immediately we told him that his property simply needed a white fresh coat of paint.
His walls were a mix of green and yellow. While he loved how his property looked he wasn’t aware that buyers found his property too..dizzying.
Less than 3 days in, we found a buyer and it was halfway through painting the house. We knew it would sell fast since that’s the first thing we advise all our clients to do.
It’s no fluke. It works and we have too many experiences to share.
Don’t underestimate the power of white paint.
Ok I admit that this is not a new tip. However it is too important to ignore so it’s good to reinforce it.
You’ve been to South Africa and it’s majestic safari tours and maybe you have a cute trophy to display on your TV cabinet.
And if you’ve been all around the world, collecting these trinkets it will pile up.
Keep all your small stuff in your store and have as little items as possible outside.
You want a buyer to imagine themselves living in the home, lazing around the sofa enjoying the breeze in the living room. You wouldn’t want them to be distracted with small items all over the house.
3: Pricing Competitively
Who wouldn’t want to sell their properties for a record price. Unless you are trying to get into the Guinness Record for highest priced HDB flat that couldn’t sell, then please price accordingly.
3 weeks ago, we had a 4 Room Pasir Ris property seller at Costa Ris who couldn’t sell their property for over 10 months.
When they first called me I couldn’t believe that this new cluster of HDB flats couldn’t sell for so long. Their price expectation was $498,000.
I saw that their agent was advertising the property at $520,000.
Unfortunately your neighbours have already sold at market price and there are still many more of your neighbours pricing at the right price.
You would want to check the transacted property prices in your area on HDB’s website. From there you will find the actual sold prices of properties.
Simply going to Propertyguru.com and looking at the high ‘Listed Prices’ is not a good place to start pricing your property.
4: Active Marketing
Do you wonder why there are still property sellers who eventually engage a property agent after 6 months of failed marketing? They realized that advertising on Carousell was getting them prank calls instead of real buyers.
If you are engaging a property agent then he/she should be advertising your property on Propertyguru.com and 99.co at the very least. Anything more than that is a a bonus.
After selling hundreds of properties we know that Propertyguru.com brings in about 90% of our buyers.
Of course simply advertising on Propertyguru is not enough. You will need clear and beautiful pictures of the property and complete descriptions.
5: Don’t Ask for Extension
If you are a property owner selling and buying a property concurrently your agent would probably ask a buyer for an added extended stay beyond your property ownership status.
For example, you will ask a 2 months extension from a buyer right from the start so that you will have a place to stay in between (so you wouldn’t have to bunk in your sister’s extra common room)
From our experience the moment we tell a potential buyer over the phone, that your property requires some form of extended stay, they will keep quiet…and put down the phone.
Out of 10 potential buyers who could be paying you your target price you now have 2-3 interested buyers.
No wonder most sellers can’t sell their properties even if they are the cheapest in the area!
I wish you all the best in selling your property and getting your target price. While there are other factors to get a higher price for your property we believe the above 5 tips are the most important.