 | E-Series /10 Insider Tips | |  | | | | | MY HSR INSIDER TIPS To Sell Your House On Your Own Without Any Real Estate Agent | | How Can I Sell My House On My Own For The Best Returns And Without Pain and Regrets In A Highly Competitive Market?
To succeed in selling a house, you need to be competent in real estate marketing, legal, financial, operational aspects, and other knowledge and skills. This is important because you need to negotiate with increasingly sophisticated buyers. You need to outperform competitors, use latest technologies, and stay ahead of the fast changing market.
These competencies are developed through years of experience, continuous training, and constant improvements, especially learningthrough failures and setbacks. In addition, you need to have the support of a large organisation with its infrastructure, technology, and systems to work with different buyers through a variety of buying situations.
Here are just some of the basics that you need to implement effectively and efficiently, on your own, to avoid time-consuming, costly, and frustrating failures.carefully so as to enjoy the highest price in the fastest time and with absolute convenience.
Here are some of the critical success factors to sell your house.
| | | | | | To achieve the best results, you need to be constantly updated on market conditions, including past data and reliable projections. You need to review and compare similar houses that are currently in the market, especially those that have been sold or not sold in the past six months.
It is also important that you are familiar with the strengths and weaknesses of each house and the relevant terms and conditions of each sale. Most of these information comes from frontline experience, effective networking, commercialised databases, and computer-generated analysis that are available only to professionals in large and professional real estate companies.
| | | | | | Pricing is a challenging and delicate art that can trigger major consequences. If you price too low, you are giving away money that rightfully belongs to you. On the other hand, if you set a price that is too high, it will result in failure. You will be wasting your time, energy, and money. At the same time, it will make your competitors’ houses look cheap and they will enjoy a faster sale. You are virtually selling for them.
Should you decide to lower the price subsequently, you would have lost the right buyers who will pay the best price. The market will have a negative buzz and will look at your house with great suspicion. In our industry, we call it a ‘shopworn’ phenomenon and it may cause permanent damage to the selling process.
| | | | | | | | In a technology-driven market, you must use technologies that will provide you with powerful, timely, and accurate information to make better-informed decisions. They include InfoProp, Skylearner, WIS, SISV PowerDesQ, InfoTool, Power Search, and Realink 21. These expensive tools are absolutely necessary and you need to go through proper training and guidance to use them correctly to enhance the results. | | | | | | | | You need to prepare a comprehensive suite of contracts, forms, and other documentation to meet the needs and requirements of unique buyers in different circumstances. They include comparative market analysis, transaction database, option agreements, financial plans, home loan applications, property profile, property inclusion and exclusion lists, and relevant market data. It is not good enough to use a standard form. You need to understand every clause and provision in the documentation because they can hold back your sale for months or even years. | | | | | | | This is a creative process that you need to undertake to ensure your house stands out in the market and attracts qualified buyers to make the highest offers. It includes profiling strengths and advantages of your house
vis-à-vis the competition, overcoming weaknesses, and applying marketing techniques to make your house look more appealing to the buyers.
As the owner, the key challenge is your familiarity with your own property. This may cause you to be blind to its negative aspects and hinder your ability to dress your house effectively to achieve a sale.
| | | | | | | It is important to manage the marketing process correctly. This includes organising the marketing campaign, handling phone calls, qualifying buyers, conducting viewings, organising open houses, negotiating prices, completing the paperwork, and closing the sale.
It is not sufficient to just place your advertisement in the newspapers. You need to plan an integrated program that includes direct marketing, effective networking, and online promotion. Every word and sentence must be appropriately crafted as the fads and fashion of the market changes very quickly.
Very importantly, you need to position your house correctly, maximise its exposure, and enhance its appeal as it will compete with many similar properties in the tough market. You need to generate a database of qualified buyers, including foreigners and expatriates so as to find the right buyer whose requirements match that of your house and is therefore willing to pay top dollars for it.
| | | | | | | You must be prepared to respond to every phone call, including prank calls and calls from competitors, property sightseers, and nasty buyers. In addition, you may have toconduct viewings of your house without advance notice and at your inconvenience. At the same time, you must be able to answer difficult questions about the house,
neighbourhood, and all other aspects related to the sale.
When you, as the owner, sell directly to buyers, they are normally more reticent about asking you questions and raising any objections than with a third party like a real estate agent. You need to probe, find out confidential information, and understand their deep-seated requirements so as to qualify the buyers and lead them to a sale. Through this process, a personality clash can quite easily occur especially when both of you are protective of your own interest. The ensuing emotional tension can lead to the loss of a sale.
Buyers may also require you to show them similar properties in the market. You will have to compare them with your house and show why yours is a better investment. Chances are you will not sound believable as you have a stake in the house and an interest in the sale.
The more you push for a sale, the more your buyer will think that you are desperate and will therefore, make you ridiculous offers. They will also ask you for a discount as they know you will be enjoying a saving from the real estate commission.
Unless you walk carefully on the above tight rope and avoid these and other pitfalls, you will have an even steeper climb ahead.
| | | | | | | Negotiation is a sophisticated skill that will contribute to the success of your sale. To do so, you need to suppress your emotions to prevent conflicts, handle unreasonable criticisms, and respond to buyer’s whims and fancies. It also includes responding to snide remarks, answering frustrating questions, and negotiating terms and conditions in your favour.
You need to know how to follow-up and seemingly compromise on your demands without giving the buyers any impression that you are desperate to sell. In addition, you need to manage all closing details, any of which can cause the sale to fall through.
Through it all, you need to liaise closely with a team of professionals from the legal, financial, and property disciplines in order to complete the sale without any problem or hassle.
| | | | | | | You need to work closely with banks and other financial institutions to stay abreast of the latest home loan products, including fast changing interest rates and other terms and conditions. To close the sale, you need to compare the wide variety of home loan packages, explain the details, and guide buyers on how to make a decision.
You may need to uncover private and confidential information to determine if they are eligible for a loan. In addition, you need to respond to technical questions and recommend to buyers the most appropriate package for the best financial support and returns.
| | | | | | | You must protect yourself against unscrupulous buyers. They can be very skilled in employing highly unethical and manipulative tactics to try and lure you into a trap. You need to also protect yourself, your loved ones, and personal belongings as you will be serving many strangers in your house.
You may unwittingly open your house to people who have criminal intentions on your loved ones and personal possessions. While most buyers have no such intentions, the incidence of petty thefts, deceptions, frauds, and other problems are a cause for caution.
In addition, there are legal requirements pertaining to the sale of a property that you should be familiar with. A successful sale can turn into a long legal battle if the transaction is not completed correctly.
From the above information, you can see that saving on agent’s commission will not cover the expenses needed to market your house successfully. In addition, you need to invest a lot of time, energy, and effort. By taking yourself away from your work and other endeavours, you will also incur unnecessary
opportunity costs. There is also no assurance that you can beat the market and get the results you want.
That’s why you need an agent - not just an ordinary agent - you need a professional and competent specialist, equipped with the best tools and working as a part of the largest team in the industry to serve you and lead you to success.
My HSR specialist can provide you with a written guarantee to sell your house at the best price, in the fastest time, and with absolute convenience. For more details, please contact your personal HSR real estate specialist today.
Our aim is to be your ‘freehold’ friend, serving you and your family over the next three generations.
If you are selling on your own, we would like to offer you whatever assistance possible to help you minimise your losses and enhance your returns.
We can also help your prospective buyers to sell their houses so that they can buy your house. At the same time, we can also work with those who are not successful in buying your house to source for other houses.
We are here to serve you. Buying and selling houses is our passion. It is our contribution to making the world a better place to work and live in. Call My HSR real estate specialist NOW!
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