1. Market trends: When you are planning to enter the property market as a seller it is important to understand the trends. It will help you to quote the right price for your property. It will also save you from a lifetime of regret of having sold your property at a lesser rate in haste.
Find out how many properties are up for sale in your area and what price are their sellers quoting. You can also do some analysis on how superior or inferior those properties are compared to yours. Understand the demand in your locality and the profile of the buyers. These are important factors to know as a locality with more inventory but less demand has less chances of negotiation. If you quote a high price in such a locality, selling can get difficult unless your property has some unique features which makes it distinct from others.
2. Right price: It is important to price your property right to attract the interest of the buyers. Just because you like your property doesn’t mean that you can price it exorbitantly; similarly, if your property is old, it doesn't mean that you have to settle for less than the market price. By doing some minor repairs you can increase the asking price. Location, social and physical infrastructure and conveniences often garner buyers’ interest. Don’t be in a hurry to sell, just keep the pricing rational.
3. BHK proportion: How big your property is matters a lot at the time of selling. Dr Niranjan Hiranandani, managing director of the Hiranandani Group says, “I have seen that most people in the IT sector seem to buy a 2BHK apartment from one aspect only that is re-saleability. The re-saleability of 2BHK flats is definitely higher. Also, if you want to give it out on rent, two bedrooms go faster.”
“If you want to keep the house for yourself, then a 3BHK flat should be your choice. But if you are looking to sell, transfer, negotiate and make a turnover of it, I think, a two bedroom would sell fast,” he added.
4. Online display: Make sure you list your property on various online websites such as Magicbricks. Experts at ‘This Week In Property’, a live show hosted by Magicbricks on Facebook, noted that one of the biggest advantages of putting your property online is that the buyer gets exposure to a bigger platform and the owner gets responses from a larger target audience.
While listing your property online, one must ensure that you provide relevant pictures of the interior and exterior of your house. Buyers want to explore the property before physical verification of the property and location. Attractive display pictures and detailed description makes your chances better for higher volume of relevant responses.
5. Research well before approaching a broker: Taking the help of a broker in selling your property can be good but make sure you don’t depend on him entirely. Once you do your own research and understand the market trends, it will help you in making the right decision.
If you have put your house for sale, you would no doubt want to sell is fast and at the highest possible price. It will require many buyers to inspect your property before you can conclude a deal that is...