Everyone can sell their property online - so how can you, as a property seller, stand out from the competition? Read on to find out how to increase the productivity and eventually, results of your home sale journey.
Check the listed prices and transaction histories of surrounding properties
An important first step in selling your property would be to check the prices of nearby listings, as well as transaction histories in your area. The closer the units are to yours and the more recently they are sold, the more accurate and telling the info will be of how your house might sell.
Understanding local price trends can assist you in establishing a reasonable value and sale price for your property. While it is good to set a higher price for your property to maximise your potential profit margins, it's essential to be aware that the higher the price you choose, the potential for a longer time on the market increases, particularly in a buyer's market.
For a start, you can consider using MOGUL.sg’s very own M-Value tool to estimate how much you can sell your house for! Powered by geospatial and transaction data, get an indicative price for your property now.
Work out your holding power, and follow a fixed plan
This leads us to the next step where you decide to establish a price for your property. If that price exceeds the average range, you might have to consider when to reduce the price - after a month of no responses, or possibly three months? It ultimately depends on your goal, whether you want to sell fast or sell high.
MOGUL.sg’s DataSuite is a transaction history database that helps you to find the previous transacted prices of property similar to yours - consider using it or similar research tools to determine a good price for your property that you are ultimately comfortable with.
It is also good to establish an absolute minimum price that you are willing to accept, and at what price you would be ready to sell immediately. This determines how you will respond if a potential buyer emphasises the urgency of their purchase.
Having well-defined answers to these questions is crucial. It is advisable to create a structured plan, or a ‘script’ to adhere to. This approach will help you make level headed and informed decisions in selling your property.
Home staging
Home staging and the subsequent hosting of viewings are an important step in facilitating the speedy sale of your home.
Ensuring that your home is staged nicely improves the quality of photos that go up on your listing, attracting a greater number of not only interested buyers, but sincere ones as well.
Having a cleanly staged and decluttered home also makes the home viewing experience smooth and pleasant for potential buyers. If the physical space is as clean, functional and organised as promised in the listing photos, the interested buyers could be pushed closer towards completing the deal with you.
A simple way to ensure your home is ready for a viewing is to employ the help of a home inspector. This costs around $450-$650 for an average sized unit. These home inspectors specialise in finding and unearthing any defects or faults in your home that you might have missed in your own spring cleaning or inspection, allowing you to take steps to fix them or sound them out to your potential buyers.
It is advised to pay a small fee for a thorough home inspection than for potential buyers to raise issues and dispute the price of your property.
Remember that a well maintained home sells for more, but if you are not honest about the condition of your home, it might turn off the majority of your potential buyers!
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