Getting A Better Price For Your Property
Getting a good price for a property, could be hard especially in times like these when the market was already at its low and is now hit hard by the Coronavirus. Just before a few years before the virus hit the world, the real estate market in India was witnessing a decrease in demand which had led to a fall in the prices of the properties for sale, and now, just like every other sector in the country, the real estate market is also seeing its low. So here we come up with some help if you are looking forward to selling your property.
- WAIT FOR THE RIGHT TIME: If you are looking to sell your property right now, trust me it is going to be pretty dumb if you are not in desperate need of the money. The demand is low and the market is barely trying to sustain itself. If in times like these, you have to sell your property it would be unfortunate because no matter how well you are going to follow the steps that we are going to suggest below, you are not going to end up with a good deal. There is a lot of weight at the time of the buying and selling process as a big chunk of what the price is going to be is determined by the demand and supply of that good during that period of time.
- RENOVATE YOUR PROPERTY: Renovate your property and make it good enough to even move in immediately if possible. That leaves the buyers with a good first impression and sometimes the first impressions are the last. Along with renovating the property, do keep in mind that you are ultimately going to sell the property so have space and room for improvement so the buyers can mold it into something as they might please.
2.1- PAINT THE WALLS: Paint the walls of your house and prefer the color white because not only can it act as a color itself but if the buyer wants they can easily change the colors of the walls if the base color is white.
2.2- WHITEWASH- If you previously had not whitewashed your house then do it as soon as possible because not only whitewashing makes your house look cleaner but that can also put a very good impression on the buyer.
2.3- PLUMBING: Get a plumber check all your water channels and check properly if all the piping and toiletry solution and in good condition and still viable and working. Check for leakages and water runoffs.
2.4 ELECTRIFY: Check whether all the electrical appliances that are going to come with the house and in good working condition. Check whether the MCBs are working or not and check whether or all the switches and electrical parts are in proper condition.
2.5- FLOORING- Replace any cracked floor tiles and looks at whether they are properly placed and are nice and polished and look clean.
2.6- CLEAN- Get a cleaning done. Clean the whole house and make sure you do not forget the backyard and the other areas surrounding the property.
2.7- DISINFECT- Disinfect the garage, toilets, and doors, etc. Pay extra attention to them but try to make the house more welcoming by using some fragrances.
- KEEP YOUR PAPERS READY: Keep all your papers ready and up to date. These papers may include your own papers and other property-related documents. This will not only make a good impression on the buyer but also help you to be perceived as a genuine dealer so that they know for sure that they are not running into any scam.
- HAVE THE DEAL HANDLED BY A GOOD MEDIATOR: The next best thing that you can do to have a really good professional broker mediate the listings and showing of the property. You can do that for yourself if you have the time and if you are good enough with people but if not then always leverage someone else’s skills.
- ADVERTISE WELL: Advertising gives you a lot of opportunities to crack a better deal for your property and bless you with a better profit. So perhaps spending some money on advertising the property is a good idea. Some websites will let you list your property for free and may charge a little fee if you want them to retarget your audience. There digital marketing companies that might be able to help you out or you might want to take the traditional route and get your advertisements published in newspapers, magazines, and billboards.
- LOOK AROUND: Look around for similar properties on the different housing websites. Look specifically for the area that your property is in. see how they look, what kind of finishing do these flats have, and what are the amenities and facilities that the locality provides and take notes because they are most likely your competition. Try to make a better offer than your competitors and if you still encounter problems with market research, hire a broker, and do not hesitate to leverage their skills to your advantage.
- OFFER FLEXIBLE PAYMENTS: Offer flexible payment options and try to be open to as many payment methods as possible. Since buying a property requires and rather demands the arrangement of multiple funds, try to be a little more considerate and try to look at it from the buyer’s perspective, through their looking glass. Hence things like demanding a big upfront deposit might spoil the sport or may cancel the deal in the first place.
- ASK NEIGHBOURS- Last but not the least, ask neighbors to help out if they happen to know any prospected buyers or help out when people come to look at this place. Ask them to provide your number to the people who want to have a look at your place and make good relations with them.
So these were some of the major tips that might help you out to create your own checklist when you enter the market to sell your property.