What to do before Putting a Residential Property up for Sale?
What to do before Putting a Residential Property up for Sale?
Listing a property on sale is one of the hardest processes where property owners have to invest so much time and energy into it. Most of the time, it can take up to years to finally get the property transacted. In general, buyers consider a number of properties at the same time they are looking at our property. To compete with this pool of listed properties in the market, property owners need to know some tips to list the property on sale. Want to know more about how to sell properties very quickly in this competitive market? Check out these 5 best practices!
Don’t skip doing market research:
Property owners tend to disregard doing market research thinking it is a waste of time. On the contrary, doing market research will really help property owners know how to price their property for sale without enduring a big loss compared to the market value of the property within the area or setting a price that is way above the market price making it hard to close a deal. In addition to this, it is important to do market research so property owners can also take into consideration if there’s a development plan in the near future to take advantage of the increase in market value. It is recommended that property owners also consult or get help from real estate experts for a property valuation to get an accurate market value before putting the residential property up for sale.
Interior and exterior presentation matters:
Another tip is to renovate the interior and exterior of their residential property. Although the renovation required additional cost and time, it increases the value of the residential property in return. In addition, it is most likely to be sold off in an instant once it is put on the market. Property owners should carefully check for any repairs needed, such as the sewage system, plumbing system, roofing problems, and other appliances within the property. It should be emphasized that an appealing living environment will help the property get sold faster. Consequently, property owners should focus on maintaining the interior and exterior of their property.
Make sure the property is ready for a visit anytime:
Before putting the property up for sale, it is an absolute must that the property owners keep the place neat and tidy. This means that property owners should consider decluttering any personal belongings, repainting using a neutral color, and not having too much on display, to ensure that the property does not have any unpleasant smell and gives off a very welcoming environment. It is also a great idea to have a deep clean for the residential property which includes scrubbing, cleaning, and polishing the toilets, floors, stairs, rooms, kitchen, etc. Other than this, property owners should also light up the property to prepare for visits from potential buyers too.
Get ready to pitch your property strength:
After all the market research or property valuation, pitching the property for sale is another important part of the strategy. Since selling a residential property should be an investment, owners should recheck and ensure that the property maintenance is up to date and in great condition. Property owners should also ask for cooperation from neighbors for good testimonials on the living condition and about the property. At this point, the property owners should by now have a list of unique selling points and also prepare legal documentation such as title documents, previous tax receipts, etc.
Work with professional real estate agents:
The final step property owners should do before putting a residential property up for sale is maximizing the exposure of their property to potential buyers. Working with real estate agents is a convenient and effective way to sell your property. A real estate agent can also provide valuable benefits to property owners, such as their extensive connections, their knowledge of the real estate market, their expertise in pricing the property correctly, and their experience in dealing with legal processes and transfers. Additionally, property owners should list their property on websites and with real estate companies to offer wider exposure to potential buyers.
The above points had helped many property owners sell their property with ease without having to wait around for a very lengthy period. Besides these are just what property owners can do to elevate their property selling strategy, it all comes down to having potential buyers being interested in the property all the same. If you are a property owner looking to sell your residential property, a suggestion to get maximum exposure and networking with potential buyers is to work with real estate agents. For further help or assistance in selling your properties, feel free to contact CBRE for their expert services.
Click here to read about 3 ways to List your property for sale in Cambodia