For the past two years, the real estate situation in the country has declined due to the Covid-19 pandemic. It has contributed to the 4.2 percent drop in the Gross Domestic Product based on the Philippine Statistics Authority.
Yet there is hope for this year as the national chapter of the Paris-based International Real Estate Federation (FIABCI) said that property prices could recover early in 2022. This projection allows our home and property sellers to revive the business.
With the many competitors in the market and the thrive of everyone to cope with the pandemic, getting a closed deal from customers could be challenging. If you have plans for home-selling, you need to be professional and creative. Here are eight pro tips to help you stand out and sell your property.
1. Choose the right agent for you.
With the online trend, it is now easier to check the profiles of your real estate agent candidates. Always choose a licensed agent with credibility. Ask for their portfolio and marketing experience in the real estate business.
2. Get professional photos and videos.
If you are not good at photography, it would be better to hire a professional one. Capture the front area, interiors, exteriors, and the whole landscape. But of course, you will only post the best and appropriate photos. Depending on your location, you can also drone your property to give your customers an aerial view that might encourage them to consider your place because of the surroundings. Show your prospect-buyers a virtual tour. You can do this by recording a video of your home from the outside to inside the house. It can give your customer the at-home feeling.
3. Put visible signage outside the house.
A clear and visible sign of FOR SALE with contact details is the easiest way to draw your prospect buyers’ attention and passers-by. Somehow you are giving your neighbors the idea that you are selling. If your neighbors know someone looking for a residential location, they can refer them to you.
4. Advertise on all media platforms and online.
Like in any business, advertising is the key to promoting your products.
Get a spot on the newspaper ads page or the radio. You can also post on social media. Posting professional photos and videos is what customers would like to see. Contact details and other relevant information about the product should be readable and accurate. The digital sphere has become the space for most businesses to promote their products and services. Take advantage of the virtual trend. Make sure you strictly observe the rules. Find the best schedule to post and maximize the features. Most social media platforms are free. But paid ads can reach a specific or broad audience.
5. Set a realistic price.
There is a prediction from the Philippine property developers in 2022 that the real estate business will recover. It could be the best time for you to sell your home. But first, consider the costs of your property and all other expenses. You can research who are the most interested home buyers for this year. In a report published by Esquire Philippines, 25 to 34 years old Filipinos make up the majority of internet homebuyers. By shortlisting your prospective buyers and the cost of your property, you can make a reasonable price. Consult your real estate agent and attorney.
6. Secure all necessary docs.
As a home seller, you have to prepare the following documents:
a. Letter of Intent (LOI) – a non-binding document that the buyer gives to the seller. It contains the price, then initial deposit amount, mode of payment, period of due diligence, and the deadline for the seller to sign in the agreement terms.
b. Reservation Letter – signed by the seller to reserve the property for the buyer. It means that the seller commits not to promote the property to anyone else; it also contains the duration of the reservation and the validity of the reservation fee.
c. Contract To Sell – it has the final terms and conditions with notarization
d. Deed of Absolute Sale – this document needs to be signed by both parties; it states the seller has relinquished all interests and rights of the property to the buyer.
e. Certificate Title
f. Tax Declaration
7. Set a timeline when selling your home.
Selling a house can take longer depending on local market conditions. Make a timeline from the moment you planned to sell your property up to finish. Include the schedule of cleaning, decluttering, and remodeling. You have to manage your time wisely and set achievable tasks for a particular time frame. Know what to prepare before, during, and after selling.
8. Set up the landscape and make a clutter-free and damage-free home.
If your property has a lawn or backyard, consult an expert to design the landscape. But if you think it’s too expensive, you can research online for the cheapest way to landscape the area. Just be creative when arranging your plants and all other ornaments around. It is also your preparation for the photoshoot.
You should not only impress your buyers with the exteriors. Make some cheap but creative interiors, too. You need not spend much remodeling the house.
Check all necessary parts of the house for repairs and pests. These are activities before announcing your property for sale. No buyer would surely like to see broken door knobs and termites from their new house.
2022 has a promising future for the real estate business. There is no assurance that you can sell your properties this year. Just as most entrepreneurs are, you have to take a risk. But with the right mindset, preparation, management, and marketing, there is no doubt that you can make a deal with your buyers. A creative, determined, and realistic attitude could help you win over the competitive industry. Make sure to be consistent and ready anytime an interested buyer asks. Your availability means a lot. Who knows that before the year ends, your property is from FOR SALE to SOLD.