Property prices and demand in Bangkok has been on the rise for several years now. If you have a property in the capital city that you wish to sell, right now is a good time to sell. However, selling a property is not as easy as it may sound. Whether the market is at an all-time high or is decreasing, selling a property can be stressful. Just like buying a property, selling also requires good preparation and careful planning. A wrong step can be costly. As a result, people may want to buy it way under the asking price, or worse still, no one wants to buy it.
Well, prepare yourself and get ready. The steps of selling a property may not be easy, but it will all be worth it in the end. Here are some six steps to ensure your property in Bangkok stands out from its competition so you can sell it as quickly as possible.
De-clutter the property
You’ve lived in that property for a number of years and you might have accumulated personal belongs and furniture, but most buyers don’t have the vision to see past things like clutter and bulky furniture that makes your property look smaller than its actual size. Buyers’ first impression of your property is important; they need to see what a fantastic property it is. No one wants to go into a messy or disorganized property, so try to make the place looks clean and neat. Clear out all areas (this also includes the basement, the attic, and closets) to make sure the square footage and the flow of the property are easily seen. Get rid of personal items, such as highly valuable items or personal photos. People want to envision their life in the property, not your life. Show them the kind of lifestyle they could have in the property.
Fix all problems with your property
Fix all problems with your property. Fixing everything sounds like a daunting task, but it is essential. Fix everything from rotting woods, stains on the floor, peeling paint, leaking plumbing and dripping faucets, leaking roof, termite damage, broken lights, to electrical problems. Even the ones that you don’t think as obvious problems should be fixed before you list your property. Any issues with your property will be discovered during the inspection process. If you don’t know if there’s anything wrong with your property, it is best to hire a professional home inspector to ensure there are no surprises. Make sure the property is ready to move in and don’t give your buyers the feeling that they have to spend money and time in fixing things.
Take excellent pictures
This one is often overlooked by people. They take a blurry photograph of their property and don’t take time to clean their rooms. You need to present your property in the best way possible. Make sure it’s not messy and there is no laundry lying around, no dishes in the sink, and no unnecessary clutter anywhere. Move cars and trash bins away from the front of your property. Take several pictures from different angles to give you options to choose the best. Make sure the lighting is right and everything is clear. Some property websites will gladly help you through this process, some even offer to put up a virtual reality tour for your property. When you upload it to property portals, make sure they are presented in the correct sequence. For example, don’t put the picture of the bathroom in the first picture!
Know your market
Identify the type of people that will be attracted to your property, and market it accordingly. If your property is a six-bedroom house, it will appeal to a large family. Likewise, if your property is a small condo, it will attract a single person. You will have more choice if your property is medium-sized and has two or three bedrooms as it appeals to a larger variety of people and offers more flexibility. Make sure buyers are aware of the potential versatility of your property so you can have a larger target market audience.
Find a good agent to work with
You may be wondering if working with an agent is worth it. Trust me, it is, especially if you are a foreigner. Agents in Bangkok usually take up 3% of the purchase price as their commission. This cost is probably the reason why many people want to do their transactions without an agent. However, this cost is actually worth it since a good real estate agent is very helpful. Do your research and choose a strong agent with a good reputation. A reputable agent will make it easier to help you find a buyer, both locally and internationally. They have exclusive access to the market and able to assist you through every process, including setting the price and negotiating. A good real estate agent will be able to provide advice and guidance throughout the selling process.
Price your property right
Do online research and consult your agent, and check the papers to get an idea of the ongoing price rates for the same property types within your area. You may want to set a high price for the property and reduce it later during negotiations, but this strategy only puts off potential buyers. An overpriced property won’t attract any buyer. Remember, buyers do their research too, so most of them are well informed and more educated than ever before. They will know about the property prices in your area. Keep the asking price as fair and as close to the price you actually want to sell your property for. Trust your real estate agent to guide you with the appropriate price. This step is very crucial because the first thing that attracts potential buyers will be the price of your property.