Selling a property can be quite exhausting and time-consuming. Sometimes, people get so annoyed during the whole process that it starts looking like a privacy invasion as total strangers come and prod your house, cabinets, and every other corner of the house. Criticism of the house also occurs, which you might not like. Lastly, the amount of money offered for a properly might not be as expected.
Lack of experience, emotional exhaustion, and haste in selling a property can lead you to commit several mistakes while selling. Talking specifically about Penang, the following are the eight main mistakes that you should avoid while selling a Penang residential property.
1. Getting Sentimental
Usually, it is tough for people to let go of their homes due to the emotional attachment with such properties. All the efforts made in building and buying that house and the beautiful memories made in it are bound to come rushing into your mind at the time of selling your residential property.
However, at the time of selling your property, you should consider yourself a businessperson and think about the various housing developments in Penang. If the deal is financially beneficial to you, forget being the owner of the house and do not get emotional while selling the property.
2. Not hiring an agent
Many people are tempted by the for-sale sign and tend to put their properties on the market to sell by themselves. However, the property market in Penang is a highly competitive one, so it is highly recommended that you get an agent to help you in selling the property. An agent can help you in the following ways:
- An agent will aid you in setting an appropriately high price for you properly. As a result, your property will sell quickly.
- You can avoid interacting with lots of people as your hired agent will deal with the potential buyers.
- Your agent can negotiate better deals as he or she will be experienced in the selling of Penang residential property.
- Legal paperwork and procedures involved during the buying and selling can be handled by the agent, who will make the whole process smooth.
3. Setting an Impractical
Value Setting a reasonable price for your property is essential to attract the right kind of customers. You or your agent, if you have one, should perform a comparable market analysis to set the right price. An overpriced property has minimal chances of selling while underpricing a house is a smart strategy as it will attract lots of offers. You can always reject the offers which are too low or renegotiate the pricing after you have gotten an offer.
4. Expecting the Set Rate
This may seem trivial to some people; however, you should never expect the price at which you have set your Penang residential property. A buyer will negotiate the price, and you may have to sell the house at a lower price than expected. It means you should leave a little room for negotiation while setting the price. It is also possible that you may end up getting more money than the expected price, but it varies from place to place and how much the buyer is impressed by your house.
5. Not Posting Property’s Photos
There has been a sharp increase in new housing developments in Penang
, so you and your agent should make all the efforts to make your listing stand out. Many buying and selling deals are made online now, so visual representation of the property is crucial to successfully sell your house. Make sure that the pictures you put up are of high quality in nature, and the house in these photos is neat and tidy. Listings with exceptional images are sure to generate interest among potential buyers and attract reasonable offers.
You can ask your agent to get a professional real estate photographer to capture the best quality photos. Another option is to get a video or a 360-degree view of the property to boost your listing. It can be captured via any modern smartphone. Such steps will ensure the quick selling of your property.
6. Hiding Defects
Some people make a huge mistake by hiding the defects in their properties while selling the house. Such issues are revealed during the inspection and can become legal troubles for you. Moreover, it causes embarrassment to the agent as well. Therefore, it is better if you reveal any problem beforehand or get it fixed before selling the house.
If you avoid these eight significant mistakes while selling your Penang residential property, you are sure to sail through the selling process smoothly. To view some of the most sought after new housing development in Penang, get in touch with us.