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7 Tips for Singapore Property Seller to Sell Their Property Fast
For all homeowners, in time to come, there will be some point in time that you decide to sell your current property for some reason.
It can be you intend to upgrade to a bigger home to cater for your outgrown family members. It can also be due to all your children have grown up and already have their own home. Thus you decided to downsize to a small house so that you do not find it so tiring to maintenance a big empty house.
The above two examples are just the two very common reasons why homeowners decided to sell their property. There are many reasons that homeowners decide to sell their property and relocate to another place.
No matters what reason that put a homeowner having the mindset to sell their property, it will all come back to the same questions of how to secure a buyer to offer the best possible price.
Thus, this is the reason why I am here to share some tips for homeowners to consider, based on my personal experiences for the past decade as a property agent, when selling their property.
There is no real secret to get your property sold, just that there are some tips that homeowners may not be aware of or sometimes overlooked.
You may need to understand the buying process after selling.
Read more here –
A Complete Guide to Buy A Property in Singapore.
There are a few pointers that I am going to share in this article, but many of them are to complement each other in some way to bring out the best so that sellers can showcase their property to the potential buyer or future homeowner to-be.
As the property is a tangible item, it is physically there for you to feel, touch, and see. Thus, it is essential to apply the law of attraction. The first impression when the buyer steps into a house are the most critical, as it will be determined if a deal is going to strike.
It is the same when we visit the second-hand car dealer, why do these dealers clean up and touch up every single car to its best possible condition before they put up for sale. It is also all about the first impression.
Now let us take a look at some of the pointers that homeowners can consider and take action before presenting their home to the potential buyer or future homeowner-to-be:
1. Tidy and get rid of junk
As I have mentioned earlier, apply the law of attraction and the first impression is crucial. Thus, you need to make sure your home is in a tidy state.
When I mention tidy, I really mean that tidy to the extent where all loose items need to be tidy up or throw if it is unwanted. For example, if you go for a home viewing and saw an unmade bed in the room or toys and books or loose items lying around, how will you feel at first sight?
2. A fresh coat of paint, if necessary
If you haven’t paint your home for many years, most likely is that the overall outlook of your home will be kind of darker, and the wall may look dirty, and the state of your home may look rundown or not well maintained.
Having a simple, fresh coat of paint, if necessary, will give the potential buyer a much better feeling at first sight, such that they will feel that your home is clean and well maintained. Thus, a higher chance for you to have them put down the deposit.
Oh ya, go for a simple neutral color and not too fanciful color to keep your home bright and clean.
3. Brighter vs. darker home
Based on the past decade of experience in helping clients to sell and buy a property. Be it from a potential buyer who came to view the property that I am marketing or from the buyer that I bring them for house viewing. Very often and many of them gave me feedback that the house is dark and will give it and miss, thus asking me to look for a brighter unit for them.
“Brighter homes create more positive energy, giving you a more positive state of mental health, whereas ill-lit or dim homes generally are linked negative energy which causes depression or low-energy.”
Thus, you must draw up the curtains or blinds to create a well-lit home when showing your home to a potential buyer. If your home is dim, do consider replacing with bright, powerful bulbs or lamps to enhance and create more positive energy in your living space and pass the positive energy to the potential buyer.
4. Present nice photos
After the first 3 points, it’s time to take good photos of your home to attract potential buyers to call for inquiry and arranging of viewing.
The law of attraction is very important. The first thing that catches buyer attention from the advertisement is usually a beautiful, presentable, clean, and well-maintained photos of the property.
If the photos are in a rundown state or condition, it is unlikely to attract a potential buyer. From past experience, many buyers skipped the property first if they see the property photos are not in good, well-maintained condition.
Nevertheless, presenting beautiful photos is a subjective topic as it highly depends on how the photographer took the photos. Different angle different lighting can have a different effect on a photoshoot. Sometimes, the rundown condition can also be as nice. Thus, it tests the photographer skills.
5. Price it correctly
Doing a property market analysis of your surrounding is very important. Know what price to sell and who is your competitor seller and what price they are asking. Also, pull out the past transaction data to take reference on your selling price and expected valuation.
Ultimately, you do not wish to sell way below the market price in your area, isn’t it?
Likewise, a buyer who looks for houses is better well informed on the price in the area that they are keen. It is because they most likely have viewed not only one property but many of which they will know what the reasonable price is.
Also, in Singapore, property prices are very transparent. There are many ways to look for past transaction prices or recent transacted unit prices to take reference.
You may engage a property agent to work hand in hand with you for the market analysis, pricing, and negotiation process to get the best deal out for you. Usually, they can advise you the following:
- Price positioning – It can better give you the bigger picture of where you should price your property. Is it on a high or low side, or whether you need to readjust your marketing price?
- Check out the expected valuation – It will further give you an idea of how much your property is worth now so that you can adjust your marketing price accordingly if it too high or low.
- Check past transaction price – The past transaction price is very transparent, and anyone can get it online. But it is crucial to have a professional to help you analyze before you jump into selling to the potential buyer. You will sometimes notice in a particular area, same unit type, similar level, but the transacted price gap is huge between two units. Or sometimes, you will get to know that your area does not have units transacted for the past 6 to 12 months, etc.
- For HDB, you may visit the HDB – Resale Prices website for past transaction records.
- For private residential property, you may visit URA – Private residential property transaction website.
- Check past transaction price – The past transaction price is very transparent, and anyone can get it online. But it is crucial to have a professional to help you analyze before you jump into selling to the potential buyer. You will sometimes notice in a particular area, same unit type, similar level, but the transacted price gap is huge between two units. Or sometimes, you will get to know that your area does not have units transacted for the past 6 to 12 months, etc.
6. Get professional advice
7. Create maximum exposure
Lastly, you need to reach out to all the potential home buyers to come and view your home. Although recently due to the COVID-19 Singapore circuit breaker measure where everyone needs to practice social distancing to flatten the infection curve, there are cases where the buyer did the virtual tour by viewing the property videos online before they decide to buy. It may be a trend in the future in time to come to do virtual viewing online without physically viewing the property.
But since the property is a tangible and big-ticket item, most buyers still wish to pay a visit to the physical property to have a feel of the surrounding environment and look at the physical state of the property condition.
So, where do you reach out to these potential home buyers? Either you can go for printed ads such as a newspaper or goes online.
As the internet world is evolving rapidly, most buyers go online to search for property listing via social media and from major property portal and its mobile apps.
Some examples are SRX, 99.co, EdgeProp, PropertyGuru, Carousell, STProperty or Facebook ads, etc.
All these portals are paid services where most of the active property agents should have an account with these portals to post their listing to create exposure.
Having prepared well for the best of your property to showcase to potential buyers but can’t reach out to the pool of potential buyers will not get your property sold.
Therefore, reaching out is as crucial as you have to prepare your property thoroughly to showcase to the potential buyer.
In Summary,
I hope the above tips can give you some head start on what to do if you decide to sell your property.
You may drop me a message via the contact form if you need some non-obligation professional advice in selling, buying, or investing in property.
CONTACT ME
Hello, I am Darren Ong,
As a real estate professional, my duty is to help my clients achieve financial freedom and grow their wealth through Property Wealth Planning™.
I believe that with prudent strategies and a clear investment road map, anyone can enjoy a life of abundance and financial stability.
Darren Ong (王伟丞)
Senior Associate District Director
Huttons Asia Pte Ltd
CEA Registration No.: R026434F
Agency License: L3008899K
Contact: +65 9383 9588
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