Property is your priced commodity, and selling it poses many technical difficulties. A home may be sold for different reasons; whatever be the reason, profit should be the outcome. A few years of property investment should give a handsome gain.
Before you sell property, fixing a reasonable price is very important. A price can be set with several options like using a professional evaluator for the property, or you can settle for an ongoing price after checking with neighboring properties being sold recently or give the specifications and go for an online evaluation. Whatever be the means, pricing is a significant factor while going for a sell. Property should never be higher priced as it might chase away buyers, nor should it be priced low, as unwanted doubts about the property might arise, leading to the stagnant property.
There are two ways of selling property
Use a real estate agent
The primary route is to go for a reputed real estate agent. It is the most established and highly used route to sell the property. Before putting a property for sale, the following items should be kept ready.
Please make a list of prospective buyers and send details of a property to them.
Please take photographs of your property to show to the buyers to get an idea of the property they will deal with.
Select an appropriate time for each prospective buyer to view your property. Keep in mind to select a different time for different buyers.
Inquiries through phone or in-person should be handled courteously.
Assist the agent in negotiating the price. Never leave everything to the discretion of the real estate agent.
While opting for real estate agents, a straight five percent commission is struck, never to forget the VAT. A major demerit of real estate agents is they are always interested in striking the deal as early as possible and get away with their commission. In the process, they normally compromise the deal in favor of the buyer. They may at times even coerce you into an unrealistic transaction.
Private selling of property
Another option is going for private selling. This is more lucrative as you can save on unwanted commissions you pay to the real estate agents. There are two options to sell property privately – one is to go for ‘property for sale signs’ outside the property to be sold, and the second is for online sales.
The decision to go for private selling involves a little bit of homework. An attractive signboard should be placed on the property to be sold. It should possess your contact numbers to enable the customer to reach us immediately. Ensure that the number is in working condition to avoid losing customers. Once the necessary plans are laid, spread the word in the market through friends, relatives, and neighbors. Make sure most of the people in the locality are aware of the sale.
The next best option to sell property would be to free advertisement in local newspapers and wait for the response.
Internet is the next big opportunity. aIt is well known that more than 50% of the buyers browse the net for hot properties—the reply. There are websites that offer free advertisement sections. List your offer there and await a reply. It is the most convenient option to sit at home and wait for the buyer, not just wait. You can see your property moving too.
In case you want to save on real estate agent commission, go for private selling. This is cost-effective, and you can deal with the customers directly.
It is always best to opt for private selling to sell the property as it merits handling the buyer straight. You can feel the pulse of the buyer and negotiate accordingly. At times, real estate agents may gamble between the seller and the buyer and make a profit in between. To overcome such situations, it is best to opt to sell property privately.
Selling privately saves not only money but also time and tension. You can work at your own pace, clean up the place to attract customers ahead of selling a property. Not only the property but the surroundings also could be cleared to make your deal more lucrative.
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