How do you market your property to a potential buyer?
Properties that attract a lot of interest can sometimes be the perfect opportunity for a seller to turn around a listing.
This article looks at how you can turn around property listings and how you should be careful in the process.
Property consultant Malaysia is a property consultant based in the Malaysian capital Kuala Lumpur.
He was formerly an agent and marketeer at property developers and now specialises in real estate management and development.
Malaysia has the lowest property crime rates in the world.
But property crime is not the only way to make money.
A lot of the time, property is just another commodity in the market.
Property owners often don’t realise that their properties are worth more than what they sell for, and often aren’t prepared to take the risk of letting their properties go under.
And it can often be hard to find a buyer willing to take on a substantial portion of their mortgage.
Property specialist Malaysian property consultant and real estate expert Aboo Siy, is a member of a team that manages about 30 properties in Malaysia.
Siy says there are several ways a property can be turned around.
In some cases, the buyer will just want to take out the mortgage and give up the home.
“If they don’t have a lot, they’ll sell the house,” Siy explains.
“But if they do, they will have to sell a bigger part of their home, and a larger part of the value of the home is the amount they’ve invested.”
The problem is that a property with high market value is often not going to sell for much less than what it’s asking for.
So it’s best to have a good, low down payment to attract buyers.
“A buyer who is interested in your property will have the same amount of money they would have paid if they’d gone for the property in the first place,” Siwis says.
Property consultant Malayia says a good down payment of 2,000 to 3,000 ringgit (US$60-$70) is a reasonable minimum to start with, but if a buyer wants to take a bigger down payment, they should consider a 2,500 to 3 and 5 million ringgit.
“You can have a 2 million ringgp, and it’s usually more, and the price will go up with time,” Sij says.
Sij recommends a 10 to 20 percent down payment for the first three to six years, depending on the property.
Sij says a small home may also be a good candidate for a buyer, because it has more space, so it is more likely to be used by people, and because the price may go down after that.
“It’s more of a lifestyle thing,” he says.
“They don’t want to go back to a single room.
If you want to live in a bigger home, then it’s probably not a good idea.”
Siy is also a member to the Malaysia Property Forum, which is a national group of property professionals, and advises real estate professionals on how to approach the market in the country.
“The biggest thing is to get the property agent to be aware of your property’s value, and to be sure it’s worth what you’re asking for,” he explains.
“It is better if you go and see it for yourself, but you should always ask for the highest price.”
Siwis also advises potential buyers to do their homework on the properties they are interested in.
He recommends you search for the address on Google Street View.
“There are lots of sites online where you can find it, so you can check it out,” he adds.
If the site shows an address that looks familiar, it is a good indication that the property is worth something.
If not, you can also check if the address is available through online property search platforms.
“You need to be very careful,” Siews says.
When it comes to listing properties online, it’s important to be honest and upfront about your needs and values.
If a property is listed with a high price tag, that can make it difficult for prospective buyers to find it.
“If you are looking for a property for your family, that should be a no-brainer,” Sisiy says.
The second best way to attract potential buyers is through word of mouth.
If your website is really good, you may even attract some potential buyers by sharing your property.
“Once you have that property, you will need to get it listed and marketed,” Sisy says.
If this doesn’t work out, you should consider selling it.
“That’s a big risk for a lot people,” Sesiwis adds.
“I’ve sold properties on my own and it worked out okay.
If someone didn’t like it, they could just ask me to buy it back.”
If you’ve already got a property and want to sell it, there are many ways to do it.
You can sell the property outright, or you can