Selling a house can be a daunting task, especially if you are a first-time seller. You may not realize but you are competing in a market saturated with brokers, real estate agents, and online listing portals. They bring along professionalism to the industry which adds to the difficulty of finding a buyer and also the right price, at an individual level. With little to no experience in hand, one can be prone to making a few mistakes. 

The most common mistake could be of selling your property at a lower price. Without professional support, it could be hard for you to estimate the fair prices of properties in your area. 

But there is nothing to worry. We have some important points to share with you, looking into which could help you reach out to the right buyer and even get the right price for your property! 

5 tips you should keep in mind when you decide to sell your property- 

1) Understand Your Local Market

Having a fair understanding of the prevailing market trends is an essential prerequisite. One should be aware of the various indices that influence the price of a property. Knowing what rates are prevalent in your area and studying the market listings can help you make a more informed decision and also avoid the disappointment of under-selling. At the same time, it is important to price it fairly, asking anything higher than market rates can deter buyers from purchasing your property.

One important thing is to value your property based on the per BHK and square feet basis. It should be consistent with what is mentioned in your property documents.

2) Spruce up your Property

A coat of paint can go a long way to help you in selling your house. A well-maintained house has a direct impact on the price of the property. To understand this put yourself in the shoes of a potential buyer- 

Would you buy a house that has cracked walls, peeling paint and leaking faucets? 

Obviously, No!

Shelling out some money to make repairs to faucets, lighting, dampened walls and other similar repairs can prove to be beneficial in making your property desirable and attractive to buyers. These factors will ultimately put you as a seller in a better place to quote the price of their choice. 

3) Capitalize on the Power of Digitalization - Social Media and Property Portals

With the advent of technology and social media, the traditional “word of mouth” is getting rapidly replaced by innovative and immersive ways. The same is true for the real estate sector as well. You can circulate information about your property on social media platforms or even list them on real estate websites. The biggest advantage of advertising through social media is you can reach out to a wider number of people at little to no cost! This saves you the investment that goes into advertising in the traditional channels and also helps you monitor the campaign better. 

Some quick Tips are:

a) Upload details on WhatsApp Status and share details to all your contacts

b) Share on Facebook, Instagram, Twitter, etc

This can help you reach out to hundreds, if not thousands of people who might know someone who is interested to buy a property. And who knows, they may also pay the price you are seeking!

4) Provide any Other Additional Benefits

Ultimately, it is the added benefits that a property comes with is what can help to seal the deal. When a buyer is looking for space, they also look for amenities like parking space or garage, updated wiring and energy sources. You can add electronic doorbells with video cameras, which will make your property more appealing. If you have a furnished home, you should carry out minor repairs to ensure everything is smooth and updated. While this is not necessary, it can make your property more attractive in the eyes of the buyer. 

5) Identifying a Channel for Selling

Deciding the channel through which you plan to sell your property is also a decision that can influence the price and after-sales terms. These days one has the option to hire an established real estate agent or list the property on platforms like Quikr, 99Acres and Magicbricks. Both of these options come with their benefits and drawbacks. 

Hiring an established professional company will help you save both time and energy that goes into showing your property on your own. They have an established network which makes finding the right buyer easy for them. A broker can guide in your paperwork and can also do negotiations on your behalf. They will help you connect with potential buyers, to whom you can showcase your property. So your time is not engaged and your daily routine does not get impacted at all. You may decide to keep negotiation in your control or to give even that to the broker pre-deciding on a bottom price for negotiation. One drawback with brokers is that you will have to shell a commission. But given the professional services and realizing the correct market value that you are availing hassle-free, that is not too much.

Summing it Up!

When one looks for a new home or space, the final motive is to upgrade. When you as a seller can meet these expectations, there are high chances that the buyer will not mind even paying a premium that you ask. Learning how to sell a house is extremely crucial before dipping your feet in the market. Knowing the above tips shall help you get the best possible price for your property. If you think all this is too much for you to do alone, you always have the option of hiring an industry expert or an established professional broker company. It is the best and the most popular way to unlock the true value of the property now because they have a  wide footprint, huge database and a long and proven track record!