4 Key Reasons to Sell Your Property Fast

Here are 4 reasons to sell your property, if you are thinking of selling it

Maybe you want to sell or maybe you have been trying to sell?

This article is aimed at sellers who are thinking of selling or someone who has been trying to sell their property for the past 6 months if not more. Chances are maybe the real estate negotiators are now also tired, they may also try and push for lower prices and maybe the homeowner now thinks the whole property market is so bad and feeling so sad.

Well, unfortunately, the usual reason could also be because the initial selling price was way too high. I understand too because I have sold homes before. “Is the price I am selling too low? I think it’s worth higher.”  Before we sell, we will ask around and today, it’s slightly better, we have lots of information to guide us including penangpropertytalk.com‘s transaction price search.

For example, if we look around and found out that the median transaction is around RM400,000 what is the price we should sell? I leave that to you for now but below are 4 reasons to sell faster, if you really want to sell. 

#1 – TIME is money too.

If the home was not tenanted and you are still paying for the monthly mortgage, a delay of 6 months would have been thousands or even tens of thousands of loss in potential income. You are paying both the principall and the interest payment and yet the house is not yielding anything at all. If the house is tenanted, then it could delay your selling the house and this selling will take a very long time. If we really intend to sell the house, give notice to the tenant so that you will have an empty home and the property agent could bring people to view easily without the need to coordinate with the tenant.

#2 – OPPORTUNITY does not wait.

When the market is slow, it meant that there are also other opportunities lying around for us. When potential buyers are pushing for lower prices because of market situation, it also meant that we could also push others if we have identified a potential property to buy. Well, without the $$ from selling our current property, we may miss out on that potential opportunity we have identified.

When money does not come in, we do not have the money to pay for deposit for that potential opportunity! Imagine if we suddenly know of a condo in an auction at below 40% market value and yet our home is not yet sold simply because of that RM20,000 price negotiation which has lasted for a few months? If we miss that undervalued property, it will be some time before we find the next one.

#3 – COST of inconvenience.

Time should be put to good productive use. Assuming we engage 5 real estate negotiators (REN), then we will either have to open doors non-stop (better not) or we want to duplicate 5 sets of keys? If we are the one who will open the doors, think about continuing to do so for the next 6 months. Or we have to give out many sets of keys. (keeping track?), do we know whom we gave to and how do we know who is the one who brought people to view the day before?

A better way may be to give exclusivity to a REN and get him or her to co-broke with others instead. Remember, you like to sell the property. You do not need the cost of inconveniencing yourself day in and day out.

#4 –  PRICE may get lower.

The advertisement for your property is out in the market with photos of your whole home. In the beginning, you will hold the upper hand since it’s newly posted and if buyers are interested, they are worried others would get to it first. Now, imagine the property unsold for the next 6 months and thew few buyers who love your development kept seeing your home again and again and then they see the price moving lower every other month. Do we still believe we can get the best price if we delay the sale?

Remember yeah, if we engage 5 real estate negotiators, the one who posted at a slightly lower price will be the one who gets all the calls yeah. This kind of competition is not beneficial to the seller. Yes, it becomes a vicious cycle and negotiations will usually get harder with every passing month. 

Selling a property is not that straightforward these days.

Market is not hot even though we still have over 300,000 property transactions easily every year. Buyers know they have choices too. The waiting game is best played with us having money in hand and looking for that undervalued property instead. It is not about waiting for a great offer or waiting for the best offer. Play the right waiting game and be the hunter versus the hunted. If we need the money for certain critical things, sell it quickly by putting up a realistic selling price. If we have a target to invest, then selling quickly and get the money and then wait… That below-market-value property may be waiting for you too.

Happy selling. 

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