How to make your property marketable?

Good Day! Today we’re gonna talk about how to make your property more marketable.

Today we’re gonna talk about the topic that most sellers actually go through when they’re trying to sell their real estate. There will always be a point in time whether you are an investor or a simple home owner wherein you’ll have to decide how to sell your property, and selling is not always an easy feat.

Well even if it’s a basic need this is one of those high ticket purchases that people go through their lives. There is a lot of thinking that goes through with purchasing a property. There’s also reason why selling real estate should be done by a licensed individual, because there’s so many moving parts as far as marketing, selling, well to begin with market values are concerned not including transfer process of your property from you to your buyer.

Here are a few tips to make the selling of your property a little easier.

Tip number one and I think this is the most important tip of all, price it right.

Many owners try to price their property very emotionally since they have an emotional attachment to their property and feel it’s valuable but when you’re trying to value your property, you need to separate the emotional value of the property from the inherit value of the property, what do I mean? There’s what we call a fair market value or a market value in any area for a particular development for your property is located. If you are pricing your property highly emotionally because if you feel like it’s important, it’s good, you’ve done so much effort on it and then your kids grew up in the area and you just simply love it and then you wanna sell it, it almost seems like you don’t wanna sell it at all, so you try to price it very high, then your buyer is gonna be using your property as a benchmark to probably leverage on making a deal on another property or is gonna cost other properties around you to sell even faster and easier because you’re pricing your property too high. Yes, we do understand the value of the property as an emotional asset for you.

But, as far as the figures are concerned, you have to be able to sell the property either on the market value or if it has some additional advantages over other properties that are comparable along the same area then you may add a slight premium to it depending on how big the advantage of your property is compared to the other properties in the area.

The second tip is, to make the property presentable.

How many times have you been shopping around for a property and you find this property that’s so high priced and it’s just not well kept? How would you feel about it? When you go there inside the house, for example when you are in the viewing and you see that the property is not kept, there’s clutter in the area, there’s like dead insects inside you know, and the owners just not taking care of the property, there’s peeled-off of paint, the wallpapers are not kept. When you’re doing a viewing you just at least have to make sure that the property looks decent. When you’re doing a viewing or preparing a home for a viewing, or if property is up for sale, you have to make sure it at least decent in the eyes of anyone or in your eyes at least. You have to take out those little things that may annoy you.

The living area should be really nice and then the kitchens should be clean, there’s no a mess or stains. It’s very important that the property viewing goes smoothly so that your prospective buyer will be able to imagine the life he’s going to have inside your property. And if your property is not well kept, can you make him imagine what’s life gonna live inside your property?

So, it’s not exactly the most ideal thing. So, as far as selling your property is concerned, you don’t have to post fake photos. No, never do that. That’s a no no. You only have to post the actual ones. You just have to make it presentable and decent looking because if the buyer feels that you are not taking care of the property, chances are they might give you an offer which is super low compared to what you’re expecting because of the repairs and other things that they might find as a leverage against the property or they might simply find another property. And you will not be able to fulfill your goals of selling your property.

The third tip that we have for you how to make your property more marketable is, make it available for viewing.

I know this seems like a very basic thing. Sometimes you will find sellers that are trying to sell their property but doesn’t want to show their property. Or when you do have viewings or when you have a buyer who wants to see the property, because they will be investing around six to seven-figures in the property of course they wanna see it with their own eyes. Cause as you know most photos that are circulating around most of the media nowadays is actually either be deceiving or not that correct size or it’s just the best angle, they wanna see it for themselves.

And if you find yourself a property owner and you selling a property, you don’t wanna show it to prospective buyers, you’ll never know you only need one buyer and you’ll never know when you’re saying no to probably the real buyer for your property.

There are some sellers that you encounter, in the conversion goes like this “I need to sell my property” and “Okay can we view it? Can we just come here when you have a real buyer?” and “How much would you like to sell the property?” “Maybe depends on the offer.”. If you were the buyer, how would you purchase a property with your life savings most especially considering the fact that you haven’t even seen it, would you do it? You wouldn’t, right? So, viewing the property is a very very critical part.

The reality is this goes in to a sales funnel, if you are familiar with the sale panel you will understand that before you actually get the sale, let’s say for example you have one sale you need to be able to do 30 viewings, 40 viewings probably or then you need to have more inquiries probably double that amount and then you need to have more views probably thousands. So as far as any business is concerned when you’re selling simple items such as a pen, erasers, or any grocery items that’s even a basic need.

Many people have to see it first, then people will have to inquire because you’re interested that’s why you have in any company you have a marketing and a sales department which is the marketing gets the interest and the sales, they do the transaction. You need to have that interest taken care of, all the concerns addressed, you need to have the viewing and then finally you’ll need to have the negotiation.

And there’s so many things that can go right or wrong within the negotiation process that’s why it’s always very helpful to have a professional real estate broker helping you close the deal. Which leads me to my fourth point.

The fourth tip is, make sure your broker is the best at handling inquiries.

The inquiry is the entry point for the sale. When a buyer or a prospective buyer calls about the property, they’re already interested. Most especially nowadays that everything is available online, in the old days you post any at the local newspapers and the information is usually incomplete it says “One bedroom for sale, Makati” and then if there’s an interested buyer for them to get a better idea about the property they have to call, they have to ask about the property, how big it is, which building it’s located.

Nowadays, you’ll find most of this information are already on the web. There are even photos to support the platform, so it’s easier to browse properties in the development. So, what does this mean? That means less engagement from the part of the buyer because they will only engage you when they’re really interested in the property. And they wanna learn more, and probably when they wanna learn about it when they wanna do a viewing.

This means that taking care of that inquiry becomes more important than ever, and having a licensed, seasoned professional would really be of big help in to closing that deal because there are just some buyers or say for example yourself when you’re buying a property and somebody answers the phone and then you hear the other line, the conversation goes like this “Hi, I’d like to inquire about property!” and the other person answers you “Ooohhh okay, uhhh what property?” how to do think this conversation gonna go? Or if it goes further like, “Okay maybe next time. I’m busy, I’m on a meeting” or “Uhmm, it’s roughly around so and so million, maybe uhm, can you call later?” And believe me, this happens in real life. Most especially in some cases when there’s a non-professional answering the call, or it may even go like this “Hi! I’m looking for property” and the other line says “Alright, can we help, how can we help you?” “Uhm, how much is it?” “Uhm not really quite sure.” “Is it available?” “Uh, I don’t know.” “What are the market values in the area?” “Uh, I really have no idea.”.

So, how would that end? The entry point for the sale becomes blocked. And if you don’t have a very able and good broker to assist you, it would just won’t push through.

The inquiry is the exact time when the person’s concern should be addressed. So, it should be handled with precision, accuracy, knowledge and professionalism so when somebody calls to ask about the property, your broker should be like “Okay here are the market values in the area. I understand your concern. This is what the property priced at, do you have other option?”

Your broker should also be able to answer your prospect concerns in the very confident way that adds value to the buyer. Such as, how much is the property. “Well the property’s value is so and so, and the market values in the area is so and so” Just above that bottom line is, whoever’s answering the call the inquiry about your property should be very very accommodating, should be very well versed about the property values, it should be well versed about your property and as far as how many rooms does it have, how many parking slot, what finishes it’s made of most people fail at this first step.

What they don’t realize is that this is one of the most important steps to accomplish well so that the deal goes through.

The fifth tip is to make sure the marketing of your property matches the level of your property.

What do I mean by this? What the great Warren Buffet said, “You can have a successful ballet concert, you can also have a successful rock concert, but you cannot advertise a ballet concert as a rock concert”. It is just simply a recipe for disaster, but in selling properties this happens almost every day.

I’ve seen marketing materials that are not fit for the property you know, they don’t open the property for viewing. It’s so difficult to get the proper price you know these things should be well prepared ahead of time. You need first you need to agree for the selling price of your property which is supposed to match the fair market value of the property.

Now if you’re in a rush to sell the property that’s an entirely different story. But varying all unforeseen factors you have to set the correct price, and then you have to make the proper marketing materials for the property, you also need to have the proper in-line answering agent to assist your inquires properly in the level that they deserve, if you have somebody answering those valuable inquiries in a non-professional manner they can’t contribute any value to the mind of the buyer then that inquiries gonna go away.

Also, as a critical and vital, part your property when viewed should be on a good shape and not only that there needs to be a professional assisting the buyer throughout the course of the viewing because it’s very important that the buyer also knows the legal aspects or the background of the property that they’re buying, and that’s not gonna be very apparent when somebody is trying to tour themselves inside the property. So, it’s very important that you have a broker professional ready to answer all of these concerns that the buyer may have.

So, what did we learn today? Today we learned that selling a property is not exactly an easy thing are there as so many steps that actually have to happen first before the sale goes through. There are really a lot of things that can help sell your property properly such as pricing it correctly, marketing in the right way, making it presentable, having a professional assist you in answering the various inquiries. All of these factors are gonna be contributing to a timely and proper sale of your property.

I hope you liked today’s topic and may hope that it was able to give a better idea how to market your property in the right way.