A buyer is typically spoiled for choice in a market with a large supply of housing inventory, including fresh, resale, resale but vacant, and other types. It is vital to be aware of effective marketing techniques for the type of property you own. Each type will have a different game plan, from marketing to site visits.
Depending on your property’s present status, such as whether it is a newly resold property, one you have lived in for a while and are looking to sell, or one that is currently rented out when you decide to sell it, you will need to adopt various selling methods.
How to sell a newly resale property
This situation occurs when you either bought a property that is still being built and now want to sell it as it is getting close to completion, or you bought a brand-new, ready-to-move property but haven’t moved in yet and want to sell.
If the property is a project of a real estate developer, you can show the potential buyer the brochure of the property and any unit of a comparable configuration within the project that has already been built entirely to give them an idea of what your under-construction property will look like once it is fully built.
Also, it is wise to let potential purchasers know whether your house was built by a reputable builder. This can reassure them about the building quality, the chance of prompt completion (in the first scenario), and a good resale value if the buyer wishes to sell at a profit in the future.
Keep in mind the “transfer fee,” which the builder will demand if you sell your property that is still being built to someone else. When determining your profit from the deal, this sum would need to be added to your entire cost. The typical transfer charge is Rs 100–500 per sq ft.
Selling a house you’ve lived in for several years and now wish to sell
You may have been in your home for two to three years and now want to move or upgrade to a larger home. It is crucial in these circumstances to reassure the buyer of your motivation for selling (improvement, relocation, etc.), as they can be uncertain if there are any problems with the property that are forcing you to sell it so quickly.
Before inviting potential buyers to view the house, you should confirm that it is in a usable state to reassure them of this. It would also be wise to paint your home because it would give it a new look. Before scheduling visits, you can also think about taking out all of your personal belongings to enable the buyer to view the home impartially.
Selling a pre-rented home
If the potential buyer is an investor in this situation, you should emphasize the fact that he or she will receive a pre-leased asset with guaranteed monthly rental revenue, all without having to expend additional time, energy, or money to find a tenant. Although you should emphasize all the other beneficial aspects of your house, this should be your main selling point.
A “Change of User” amendment agreement between you and the buyer is required; it specifies that the landlord will change, but the renter will remain the same. The previous rent agreement between the landlord and tenant included this paper as an annexure.
If the potential buyer is an end user, you can reassure him or her that a registered rent agreement already exists with the renter and that the tenant would vacate the property when the lease time is through, allowing the buyer to move in.
Hence, to maximize the likelihood that your property will sell, remember to tailor your selling strategy to the condition of the property.
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