Selling Tips

Market Conditions Ideally, everyone wants to buy low and sell high, unless you are an investor, this is challenging for home buyers to do so. However, it is necessary to understand the economy demand and supply fundamental. Any changes within local and national markets can affect the property prices and the cost of living. When the economy is doing well and interest rates are low, demand for property is generally high and this will push up the prices. On the other hand, when there is a downturn, demand for property will drop and thus prices will be affected. By understanding the demand and supply of houses in the market and economy, you would be able to make a sound decision on whether to buy or sell. "Be Fearful When Others Are Greedy and Greedy When Others Are Fearful"  - Warren Buffett

Commission Fee There is no standard percentage for real estate agents commission. Upon appointing the Exclusive agent to represent in the property marketing, seller and agent will agree on the amount/percentage of commission payable after the property transaction. When the seller has agreed to a commission with a listing agent, the seller should  understand that there are usually two agents involved in most transactions. Most of the time, the commission is share with the buyer's agent and part of the seller's commission goes to the listing agent's company. Marketing tools: Multiple Listing Service (MLS) - Wider coverage to potential buyers and agents. Every agent is invited to bring potential buyers to your property. A bigger pool of buyers and agents will help to increase the property exposure, seller's asking price and the ability to sell the property faster. Internet marketing - Using many high traffic flow property websites ( squarefootproperty, propertyguru, iproperty, stproperty etc), buyers from other parts of the Singapore/world can be reached. Newspaper marketing - Classified newspapers (English, Chinese and Malay papers), ask about the frequency of advertisements. Exclusive and customized services - Beyond the "traditional" marketing services that are available through most companies. And many many more... Points to ponder for Sellers: Which is more important? - Getting the BEST PRICE from the sale or Paying the LOWEST SALES fee? Don't be bluffed by real estate agents who undercut their own commission and still promises to provide extensive marketing coverage. Commission fees provide income for three items only - Profit, Overhead & Marketing. Overhead is a variable fixed cost and that leaves only Profit & Marketing. Where would you think these real estate agents cut back to make up for their reduced commission fees? It's not Profit. They [...]

HDB Flats To check the recent transacted price of HDB flats, please click: HDB Resale Transactions Types of HDB flats, please click : Different types of HDB flats in Singapore Private Property To check the recent transacted price of private properties provided by URA, please click: Residential Property Transactions Types of Private Property Apartment and Condomimium Apartment and Condominium(Condos) - Residents will share the common compound and facilities. Some of the condos come with good-quality finishes, luscious landscaping, basement car park and full recreational facilities such as clubhouse, children's playground, gymnasium, swimming pool, squash and tennis courts etc. Most developments have 24-hour security surveillance, security guards and intercom systems. The residential units range from studio, 1, 2, 3, 4 , 5 bedroom units and penthouses. They start from as small as 300 square feet (Mickey mouse house) to as large as 8,000 square feet (Penthouses). Duplex houses are divided into two living residences, having separate entrances.  High rise and low rise apartments usually have with no facilities. Mansionette houses have two levels which is double storey. Penthouses are the biggest unit in a condo or apartment block. The unit sits on the top floor and usually occupies two levels. Town Houses are landed houses that shares the same compound or facilities (if any). Walkup apartments are low rise apartments with no lift. Usually these apartments are 5 storey high. Landed Property Landed properties are houses with own private gardens. Conventional landed housed comprises of bungalows (a freestanding house), semi-detached (a pair of houses) and terrace units (a row of houses), all of which come with private garden compounds or garage. Bungalow is a free standing house with no shared wall with others except the fence. Semi Detached house [...]

1st Mistake: Asking price based on needs or emotions rather than the market value. Often, people make their decisions based on how much they have paid for or invested into their home. This could be an expensive mistake.  Overpriced properties will take a longer time to sell and also lower their investment returns.  Ideally, people would like to buy low and sell high. However, most of the time we couldn't get the peak and trough of the property cycles.  Consult with a real estate professional.  They can help to assist you in pricing your home correctly from the beginning of the process. 2nd Mistake : Fail to “showcase” the home. Make a GOOD first impressions and people will never forget it. Look at showrooms at new launches to understand how important first impression can impact a buyer's decision. Surprisingly, many sellers fail to understand the importance of first impression.  Clean and prepare your home in the best possible shape before  putting it on the market if you want the best price. 3rd Mistake : Trying to SELL/PROMOTE their house to buyers during viewings. Biggest mistake an enthusiastic home sellers is to follow the buyers around the home and try to SELL them the property.  Sometimes, this might create a negative effect on the buyers because they might want to look at the property at ease and without any pressures from anyone in the home.  The correct thing is to stay out of the way and let the buyers look at the property at their own pace. They’ll get a better feel for the property and whether the house is suitable for them. Let your professional real estate agent do the selling while you sit back [...]

One of the most important factors that to determine if a property gets sold or not. As a real estate professional, I will help you to predict and analyse what most buyers will be willing to pay for at the particular point of the market condition if the property goes on sale. This is known as the FAIR MARKET VALUE. The old adage says "There will always be a buyer for every home – at the buyer’s price". Three major factors to determine how your property should be priced. The property’s condition. The current real estate market and economy. Recent transactions in the area and current units available for sale. Should you price above fair market value and hope for an offer? Please do be distracted by the agent who promises sky high prices for your property if you engage him. It could turn out to be a very costly mistake. If you are serious about selling your property, it should never be priced above the fair market value. The golden period during the first 30 days will be wasted. Help to convince buyers that other fairly priced properties are a better buy as compared to yours. Showflat for buyers to compare a overly priced property to a fair priced property. End up showing the property to the wrong group of buyers. For example, if your property is worth $1m but you decided to sell at $1.5m, you would be trying to compete against the fairly priced properties that are worth close to $1.2m. How would a $1.5m property compared itself against a $1.2m property? Why would buyers want to buy something that is overly priced in the market? Helpful tips A serious seller would price [...]