📲 𝗣𝗠 𝗼𝗿 𝗠𝘀𝗴 http://bit.ly/AskRisdian
•• (1) 𝑰𝒕 𝑰𝒔 𝑶𝒗𝒆𝒓𝒑𝒓𝒊𝒄𝒆𝒅 ••
If there is not even any viewing sessions, chances are the potential buyers are turned off by the advertised price and will not even bother to enquire. Cash Over Valuation (C.O.V.) is no longer prevalent in the HDB market today. If you are asking above market value, there will be COV that today’s buyers are not willing to pay. Market prices have declined, and sellers have to adjust their expectations. After 5 months of marketing a terrace house at “try first” price that the owner requested, the number of viewers who came was abysmal. In the 6th month, with the owners’ consent, I marketed the house at a more realistic price tag. More viewers came and I finally got the property sold.
•• (2) 𝑷𝒐𝒐𝒓 𝑴𝒂𝒓𝒌𝒆𝒕𝒊𝒏𝒈 𝑬𝒙𝒑𝒐𝒔𝒖𝒓𝒆 ••
There was single lady who had been trying to sell her place for almost a year. And when she met with me, I could not find the advertisement for her unit anywhere except for 1 low traffic website. Without property marketing, your home may not reach the eyes of potential buyers and buyers’ agents. If nobody knows the house is for sale, then nobody can buy it. Some agents cut back on marketing costs at the expense of the property being poorly marketed. Ask how your unit is being marketed. As for the lady she said, "I'm so happy you sold my flat quickly, and your brought the most number of viewers."
•• (3) 𝑬𝒏𝒈𝒂𝒈𝒊𝒏𝒈 𝑴𝒖𝒍𝒕𝒊𝒑𝒍𝒆 𝑨𝒈𝒆𝒏𝒕𝒔 ••
“The more the better.” In theory it sounds good. However, in reality as agents compete to clinch the sale, your price may suffer. Engaging one agent on an exclusive basis will encourage him or her to be committed to your case and give you their best in terms of time, marketing and service. There was a 3-bedder condominium owner that met me with while multiple agents were marketing his property with no promising results. “They only came to take pictures and asked how much I wanted to sell. Nothing else,” he said. I went through a thorough marketing presentation, secured the exclusive and eventually helped to sell their apartment and purchase a landed house.
📲 𝗣𝗠 𝗼𝗿 𝗠𝘀𝗴 http://bit.ly/AskRisdian
•• (4) 𝑷𝒐𝒐𝒓 𝑭𝒊𝒓𝒔𝒕 𝑰𝒎𝒑𝒓𝒆𝒔𝒔𝒊𝒐𝒏 ••
Presentation and feel is critical. I was presented a chance to sell a vacant 4 room flat in Bangkit Road. The previous tenants did not leave it in a very clean condition but I thought buyers will look past it. One after another left the viewing, turned off by the state of the house. I hired a cleaner, replaced the broken light bulbs, brought in a big stylish standing lamp, a cosy red carpet and a couple of plants. A buyer offered to buy the place shortly after. There was another case where a 4 room flat in Yishun had tiles popping up. It was a windy high floor unit and the seller even offered a reduced price – but nobody was taking it up. I called in a contractor to replace the tiles. Voila! The place was sold at market value.
•• (5) 𝑾𝒉𝒐 𝑺𝒆𝒍𝒍𝒔 𝑭𝒊𝒓𝒔𝒕 𝑾𝒊𝒏𝒔 ••
There was a 5 room unit in Jurong West that received an offer at $420,000. Analysing the weakening market, I advised the sellers to take it but they declined. As time passed, other units in the area were transacted at declining prices. The unit eventually was sold at $380,000. The first offer is not always a bad offer and in a down trend, who sells later, sells lower.
•• (6) 𝑬𝒕𝒉𝒏𝒊𝒄 𝑸𝒖𝒐𝒕𝒂 𝑳𝒊𝒎𝒊𝒕 ••
I sold a 4 room in Holland Close after nearly 1 year of viewings. The owners were Malay and throughout this period, the HDB website indicated Chinese quota has been filled for this block. The pool of potential buyers became further limited. Tough!
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❤️ There's A Reason Ur Meant to See This
📲 𝗣𝗠 𝗼𝗿 𝗠𝘀𝗴 http://bit.ly/AskRisdian
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𝑹𝒊𝒔𝒅𝒊𝒂𝒏 𝑰𝒔𝒃𝒊𝒏𝒕𝒂𝒓𝒂 (𝑬𝑹𝑨)
Assoc Division Director
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