Five tips to sell your home fast

In the stock market, there is a saying: “Those who only know when to buy are just amateurs; those who know when to sell are the true masters.” In the property sector, the same principle is just as relevant.
However, we often hear more about how, when and where to buy property, instead of how and when to sell it, particularly how to sell it fast. Hence, TheEdgeProperty.com has engaged with two real estate agents to get some tips for a speedy home sale, especially in a market slowdown.
According to property agency and consultancy firm Zerin Properties real estate negotiator Kevin Low, finding a buyer for a residential property on the secondary market usually takes about three months, provided that owners are flexible in adjusting their asking prices. On the other hand, Low notes that certain houses can be listed for years without a buyer. “For example, some bungalows in Melaka have been up for sale for five to 10 years. Despite low prices, they still cannot sell, because the location is too far and the bungalows are poorly maintained,” he reveals.
Nevertheless, the right strategy can speed up the process.
1. Set a realistic price
Selling a house in a slow market amid a tight lending environment can be very challenging, says Low. Hence, he advises property owners to set realistic asking prices that reflect the current soft market. In order to find out the right price for a property, owners can consult banks to get a valuation on their property, which is free of charge.
“Owners can also check the latest transacted prices of similar properties in the area through property portals, or from the National Property Information Centre and agents who are familiar with the area,” he counsels.
2. Hire the right estate agent
Low says there are some black sheep among real estate agents who only want to conclude deals as quickly as possible. Thus, he suggests that owners do background checks on agents before hiring them.
“Firstly, make sure the agent is a registered real estate agent or negotiator. Then, ask the agent some questions about the property market in the area or check his or her property listings on the web to ensure that he or she is really familiar with the area,” he says, adding that owners can ask for recommendations from friends or relatives as well.
“In my opinion, house owners...