You’ve placed ads on PropertyGuru, SRX and iProperty, and the newspapers’ classified ads section. You’ve told friends, family and your colleagues to promote for you. You’ve hired a property agent and create many online property listings.
Despite all this, nobody wants to buy your property. Your neighbours and friends innocently brag about selling their property, and you see people online selling houses for decent prices and making profits. Common questions at this point include “Why can my neighbours sell faster than me?” or “Why can’t I sell my property even when I have agents?”
You might be wondering why the gods have not been merciful to you or whether your house is cursed, but fear not. At New Condos Asia, we understand the pain of being unable to sell a house despite putting in so much effort to sell it, which is why we have put together a list of things to help you sell your house quickly and at a better price so you can better afford a new condo in Singapore.
Reasons For A Lack Of Prospective Buyers
Messiness is a common reason for lack of buyers. If your house is too untidy or dirty, nobody will bother trying to buy it. Keeping your property’s image clean and well-kept signals to prospective buyers that you take pride in maintaining the property as it is worth maintaining.
Maybe your property is in an area where the infamous afternoon sun(also known as West Sun in some places) shines intensely, or your house is inaccessible and not near public transport such as the MRT. In that case, you might want to re-evaluate how to display the advantages of your property which cannot be accurately reflected in those areas, especially when most buyers these days are interested in making the most of their money and buying properties which are easily accessible and comfortable to live in.
Sometimes, you are the reason for your property not selling like hotcakes. Terrible decisions such as hiring too many agents to list your property or setting a price that is too high can turn away potential buyers as they can find better deals elsewhere. Making multiple listings of the same house can be quite jarring for buyers and they could become suspicious, especially if the offer seems “too good to be true”.
Setting the right price for your property is essential as it allows you to find more bidders who are willing to part with their money. If you set your prices too low, you will attract the wrong crowd, but if you set them too high, nobody will want to buy your house. Last but not least, perhaps you dallied too long when an offer was made, and now you regret not accepting it. We do not encourage hasty decision making, but dragging out a deal makes you appear uninterested and hesitant, which is not a good signal to prospective buyers of property.
Engaging the Right Agent
The selection of a property agent is very important as it is crucial to determining your outreach. A good property agent would have traits such as good technical knowledge on market trends, regulations and guidelines, sales and rental transactions. In addition to that, they would not resort to shady deals and would market and pitch your property well. How can you spot a competent agent? They are usually assisted by good team dynamics and communicate effectively with their clients. Essentially, if the agent is knowledgeable and competent, the property can be sold off without much of a hassle.
What You Can Do
As you can plainly see, there are a whole host of factors that influence why your property is not getting viewership on the market. Perhaps it is external factors such as the location of the flat, or issues such as market valuation. Whatever the case, you should always trust and listen to professional property agents that advise you, as they have the qualifications to make good decisions.
Latest posts by James Yang (see all)
- New Generation of New Launch Private Condo Will Spur Capital Gains Investment in Struggling Neighborhoods - January 31, 2019
- First 12 Stations Finalised for First Phase of Cross Island MRT - January 25, 2019
- Gross Monthly Median Income For Full-Time Employed Residents In Singapore - December 18, 2018