Do you want to make more money off your property? You have come to the right place! There are many tips to make sure that you have all the chips on your side to create a higher return on investment for your property. The steps that you can take to increase your return range from simple physical modifications to complex sales negotiation techniques. Here are some nifty tips for you to make more money from your property sale.
Step 1: Sell at the right time
We have good news and bad news. The bad; sometimes your property will sell below it’s value and it’s all out of your control. During an economic downturn, buyer sentiment will be low and it will be rare to find someone who is keen to drop cash on your property.
But wait! It’s not all doom and gloom. The good news is that you can control when to sell your property. In other words, just like during the infamous 2008 financial crisis, we can weather the storm by being patient and wait for the next property boom! In an environment where the buyer is optimistic and everything is going well, they are most probably going to pay more for your property as there might be some tough competition! More demand and less supply will drive up the price and earn you more money.
Currently in Singapore, condo resale prices have risen for the 24th straight month in July 2022. This shows the high demand and premium that people are willing to pay for a condo unit. If you are looking to take advantage of the current market and sell your condo, read on.
Timing is a crucial factor in any asset sale and in property it can make mean making or losing hundreds and thousands of dollars!
Step 2: Hire the right property agent
Selling a property is a difficult process and property agents are the masters of the trade. Their services are essential for you to get the best deal possible on your property. We recommend connecting with an agent who has experience and a proven track record in selling your property type in your specific area. A dedicated agent will always go the extra mile to get everything in place to get your property ready for sale. The agent will take care of the dreaded paperwork on top of a million of other minute tasks for you in return for a commission on the value of the sale. The more successful you are, the better for them! So it is in the agent’s best interest to do a great job for you.
Here is where Propseller can help you. Our agents charge as low as 1% commission (exclusive of payable GST)! But it’s not about being cheaper, it is because our tech-driven process enables us to offer a premium all-inclusive service for half the standard market rate. From valuation, to professional photos, to viewings scheduling and daily marketing, you get the best service to ensure a fast and high sale of your property.
Step 3: Make it look good
Would you buy a run-down and poorly maintained home for you and your family? We think not. You can apply the same logic to your buyer’s thinking! Firstly, you can just make sure everything looks neat and tidy for potential buyers. De-clutter the space, clean up the rooms, maybe fix the paint if there are some unappealing spots. You basically need to make your property insta-worthy! And that ties in with the world-class marketing service Propseller provides all-included in our market-beating 1% commission rate.
Propseller’s professional team will put together the following to provide your property with maximum exposure:
- Gorgeous professional photographs of your property.
- Listings on PropertyGuru, 99.co, SRX and 7+ other portals.
- Daily boost and sponsoring on main portals for maximum exposure.
Step 4: Make sure everything works
It might sound obvious but a buyer will definitely be unlikely to drop big cash on something that is barely hanging together. We highly recommend going through the essentials such as plumbing, electricity, appliances and furniture. But we also advise being smart on this. We want you to get the biggest return on your investment and looking into the costs of fixing everything up in fine detail is essential.
- Does your buyer care about your cupboards or are they going to replace them any way?
- Do they like the look of your bathroom or are they going to renovate it?
Think along those lines.These questions are important as they will highlight what needs to be fixed or not. Patch up some electrical faults that might burn down the place though!
These steps can be summarised into putting yourself into the buyers skin. What will make you willing to pay more? You want to provide them with value and at the same time be ruthlessly efficient with your resources. Improvements don’t have to be costly. They can even be completely free! From sweeping the floor to organising your place neatly, you have plenty of options to make that beautiful property of yours prime real estate!
Propseller is here to take care of the selling process down to negotiation and paperwork. We have experience professionals who will work with you to boost your chances to earn more from your property sale.