There can be many reasons behind someone selling their property. Urgent need of funds, getting tired of the same old place, job relocation etc. can be some of those. If you’re planning to sell a property that you own and are searching for ways to do it faster then you’ve come to the right place. In this article, we discuss some critical points that will help you sell your real estate quickly.
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1. Depersonalize your house
No buyer would be interested in your house until and unless you depersonalize it and make the buyer feel that the house is totally ready to be acquired. You need to depersonalize it and remove all your personal belongings be it a family photo frame or your clothes to sell your property fast. The house needs to be presented in such a way that buyers connect themselves with it. Clean your house properly. Appoint a good cleaning service agent or a help to clean your house properly.
A clean and depersonalized house not only looks great but also makes the buyers imagine themselves living in their house. Remember that not everyone has the same taste in art. Opposite art choices can create adverse affects from your buyer’s perspective.
You also need to make sure if the maintenance of the house is done properly. Complete all the renovation processes if required before you put it on sale. Cleaning your house and renovating it will not only make it look good but will also increase the value of your property. You will get a good price and you will be able to sell it fast if all the work is done.
Good interior and light plays a major role in selling a house. Good light will make your house look way better than that in poor light conditions. You can even install wall mirrors which do a great job in amplifying light. Changing the old bulbs to new higher intensity ones will also increase the amount of light in your house.
2. Price your property well
A property’s price is the most important deciding factor about how quickly it will get sold. The right price always attracts the most number of buyers and will always help you sell it faster even in a slow market.
You may want to get a good capital from selling your real estate but never overestimate the price. Do some research about the price of land, property in your area. Talk to different people, property agents and know about the demand and rates of similar property in that locality.
Some owners make a huge mistake of thinking that they can put a high price for their real estate and can lower it later if it doesn’t sell. This approach will slow down your selling process and will force you to lower down the price even more.
Therefore, you need to have a clear idea about your property’s value. Putting high value will keep the interested buyers away from your property and will make them assume that your are not serious about selling it. Decide the price after good research. Check the area, floor plan and calculate the value accordingly.
The price will also depend on the amenities you are providing in case of house or apartments. Good price will attract good buyers and will help you sell the property quickly.
3. Use online platforms
Digital market is the biggest and the fastest market in today’s world. Make use of it to the fullest. Online platforms will not only expose your property ad to a large number of buyers but will also give you a good price and will help you sell it fast. Make use of the leading real estate portal which will also assist you with the process and will help you get the work done smoothly.
But before putting your ad on platforms you need to work on the presentation of your property. Portals draw interest completely on the basis of photos and videos. Present your property – be it land, house or an apartment, properly. If you are not good at clicking pictures, hiring a professional and getting good pictures and clear videos of your property is highly recommended.
Make sure that the light in the house looks really elegant and is captured in the photos. If you make your property look elegant, more buyers will get attracted towards your ad and you might get a good price for the same in quick time.
4. Pick right property agent
If you plan to sell your property with the help of a property agent, choosing the right one is a must. Ensure that the agent you choose is RERA registered. Verify agent’s registration on respective state RERA website. A good agent will not only help you get more number of buyers but will also help you get the work done professionally and transparently. A right agent can help you sell your house fast in a slow market.
One needs to be very careful while choosing an agent because your agent will be dealing with most probably the biggest investment of your life. Ask the agent about recent projects he/she has sold and details of his/her recent customers.
You can also check online ratings and reviews of the agent. If possible try talking to the customers and know more about the agent. You have to make sure that the agent has a good reputation in the market and people trust him/her with real estate deals.
Once you choose your agent you should make some points clear. Make sure the job of your agent is not limited to finding buyers for you. Agents are supposed to assist you with the documentation work too. Be very clear about the brokerage that you will be paying and negotiate properly.
Brokerage should be discussed either on a fixed amount basis or as a fixed % of sale amount. Latter is more common in real estate industry and percentage commission varies from 1%-5% depending on location, price range, urgency in selling etc.
5. Keep flexible visit timings
You surely want more buyers for your property and not all buyers may be free and comfortable with your visit timings. A good way to increase the footfall is by keeping flexible timings. This helps buyers visit your place according to their convenience.
When deciding the timings try to keep the initial visits and meetings with your buyer during the day. You obviously would not take chances of making the property look dull on the first visit done by a Buyer. Day light will make it look brighter and will increase the positivity it liberates. If the Buyer insists on subsequent meetings to be done at night, ensure the lights you are using are bright and of good quality aesthetically too.
6. Treat home buyers nicely
Welcoming your potential buyers with warmth and greeting them in a polite way is a must to leave a good first impression as a Seller. Remember, buyer satisfaction and hospitality are the key points for any transaction. The happier your buyer is, more will be your chances of selling the property faster. Develop a good comfort and trust level with the buyer that he/she feels like making a deal with you.
Also, never judge the potential of a buyer based on appearances.
Another thing you should keep in mind when the buyer visits your property is give them their space. Buyers would need time to analyse things before making up their mind. Give them their space and let them check your house till they get completely satisfied with it.
Standing aside and not coming in the buyer’s way while they take a look of the house is a very good and humble practice to be followed. Make sure you engage with your buyers and provide them any information sought about property interiors and exteriors to the extent you want to divulge details.
7. Provide clear contact details
This is one of the most important points which you need to keep in mind while putting your property on sale. Make sure that you are available at the contact details you’ve provided. You will not only lose your potential buyers but also slow down the selling process by giving wrong or improper contact details.
If you are someone who wants to sell the property fast you need to be accessible to the buyers from Day 1. You can even set auto revert messages if your contact is engaged or unreachable at times.
You also need to make sure that you provide proper address of your property and verify it on google maps. You surely don’t want your buyers to go struggle finding your place and ruin your first impression.
After each Buyer visits your property, you may want to send them a template thank you communication over SMS/WhatsApp. This helps in stronger brand/person recall and developing a good rapport.
8. Spread the Word
In a slow market your job doesn’t stop at informing an agent or an online portal to fetch you buyers. You need to spread the word among your friends, colleagues, relatives, neighbours etc. Make sure people in your locality know that your property/house in on sale.
Ask your friends and relatives to inform interested people about your property. Spreading the word in your network is a good way to fetch more and more potential buyers.
Apart from informing people in your network you can even spread the word using newspaper ads. Not everyone is active on internet. These target groups can be covered through newspaper ads and articles. Many people don’t search online because of unclear intent but they may get interested if they see a great newspaper ad. This will make the selling process fast as more number of prospective buyers will notice your property.
9. Keep property documents handy
Documentation is one of the processes which takes a lot of time when selling a house. To sell your property fast you need to make sure you have all the documents available with you. If you don’t have all the documents available, contact your builder and ask about them.
Also you have to make sure that the property is free of all encumbrances and litigations. There are high chances that your buyer will do a legal due diligence of the property while buying.
10. Clarity on financing & taxation (A-Khata / B-Khata)
You need to keep yourself updated with the property financing and taxation beforehand. You can check with your Builder or Agents dealing in your locality to gain proper knowledge about financing and taxation. When a property is sold by the first property owner even before it is registered, Builders usually charge a Transfer Fees to be levied on any transaction that the existing Owner enters into with a Buyer. Ensure that you have added this cost in your sale amount and have informed Buyer about it.
Also ensure that you are clear with the TDS or Tax Deducted at Source implications while selling your property. Property transactions for sale amount above Rs 50 lakh, compulsorily require 1% TDS deduction by Buyer.
If you area an NRI property seller, TDS deduction is compulsory irrespective of sale amount. It is 30% if an NRI is selling property within 2 years from the date of purchase and it is 20% after 2 years. only get remaining amount as proceeds. There is a provision in Income Tax laws to claim a refund on TDS if you re-invest the sale amount in real estate within 2 years from sale date.
If you live in Bangalore you can make use of A-Khata and B-Khata which BBMP keeps record of. Make sure your house comes under A-Khata which is the record of fully legal properties whose taxes are properly paid and not under B-Khata which is the record of illegal or semi-legal properties in Bangalore.
Overall selling a property is not a very complicated process if you do good research and plan everything properly. Make sure your property looks good and try different ways to fetch more buyers. If you do everything as described you will end up selling it really fast.
Looking to sell your property? Post it here:https://getmeroof.com/sell-property