How to sell
The Ultimate Guide to Selling Your Property
Are you thinking of selling your property? Our experienced team of agents, at MDT Property Group, is here to make the process smooth and stress-free for you. We’ll provide you with a comprehensive market analysis, help you determine the optimal pricing strategy, and utilize our network of buyers to ensure a successful sale. Contact us today to get started and achieve your selling goals.
Exclusive Property Private Treaty
The exclusive property private treaty method may be the perfect option for you. With this method, a predetermined asking price is set at the beginning of the marketing process, allowing for a small amount of negotiation. This approach can be highly successful if handled correctly, as it allows for a targeted and more refined approach to potential buyers.
The exclusive property private treaty method is particularly suitable for property owners who are not in a hurry to sell or lease and are willing to wait for the right buyer to come along. By setting a fixed asking price, you can attract serious buyers who are prepared to pay the full amount and are not looking for a bargain.
At MDT Property Group Bali, our team of experienced agents can help you navigate the exclusive property private treaty process and ensure that you achieve the best possible price for your property. We understand the Bali real estate market inside and out and can provide you with personalized service and expert guidance every step of the way. Contact us today to learn more about this selling method and how we can help you achieve your selling goals.
Expressions of Interest or By Negotiation
Expressions of Interest or By Negotiation is a relatively new marketing initiative that has gained popularity in recent years as an alternative to sale by tender or private treaty. This method of sale involves marketing your property without an advertised listing price, allowing potential buyers or lessees to enquire about the property without the price influencing their decision-making.
Instead, interested parties make their price offers based on the quality of the property, its features, location, and what else is available in the market. This approach allows buyers or lessees to take control of their decision-making and encourages them to pay a premium price for the property.
Moreover, this process opens up the possibility of multiple buyers or lessees waiting to make offers on the same property simultaneously, resulting in a competitive environment that can lead to an even higher price outcome for the property seller. With the help of a skilled negotiator, you can achieve the best possible price for your property using this approach.
At MDT Property Group Bali, our team of experienced agents can help you navigate the Expressions of Interest or By Negotiation process and ensure that you achieve your selling goals. We understand the Bali real estate market inside and out and can provide you with personalized service and expert guidance every step of the way. Contact us today to learn more about this selling method and how we can help you sell your property with ease.
Express Sale
MDT Property Group Bali offers an additional sales option for property owners called Express Sale. This method involves marketing the property as an exclusive listing without a price for the first 21 days of the listing. During this time, interested buyers or lessees from our extensive domestic and international database are qualified to ensure they have the financial capacity to pay at or above the price expectations of the owner.
All qualified potential buyers or lessees are offered the opportunity to inspect the property simultaneously, creating a competitive environment among them. The agent then obtains feedback from each of the interested parties, including what the property is worth to them. The desired outcome of this process is to have multiple buyers or lessees make offers, driving the price above the owner’s expectations.
If no offers have been submitted or the offers do not meet the seller’s satisfaction after the 3-week period has ended, the agent returns to the seller with feedback from the buyers or lessees and an asking price is decided. This asking price reflects the feedback given, and a saleable market price is advertised.
At MDT Property Group Bali, we can help you utilize the Express Sale option to sell your property strategically and effectively. Our experienced agents have a deep understanding of the Bali real estate market and can guide you through the entire selling process, from listing your property to closing the deal. Contact us today to learn more about how we can help you achieve your selling goals with Express Sale.
Importance of Setting the Right Price
One of the most crucial aspects of selling or leasing your property is setting the right price. It is essential to develop a pricing strategy that aligns with the market expectations to attract potential buyers or lessees. Failure to set the right price may result in a prolonged listing period without generating the desired interest in your property.
It is understandable to want the best possible price for your property. However, it is crucial to strike a balance between your expectations and market demand. Meeting the market expectations on price will increase the likelihood of attracting buyers or lessees. Once you have garnered the interest of a competitive buyer or lessee, you can negotiate a great price for your property.
There are three critical factors to consider when working with your real estate agent to set an asking price for your property. Firstly, the location of your property plays a significant role in determining its value. A desirable location will likely command a higher price than a less desirable one. Secondly, the condition and maintenance of your property are crucial. A well-maintained property with no significant repair work needed will likely fetch a higher price than a property in disrepair. Lastly, modern and desirable amenities can significantly enhance the value of your property.
After determining the value of your property with the help of your real estate agent, it is crucial to devise the best pricing strategy that aligns with your requirements.
Effective Marketing Strategies
When it comes to selling your property, effective marketing is crucial to attract the most amount of interest possible. The more competition for your property, the better the price and conditions will be. Therefore, it is important to work with your real estate agent to design and implement the most effective marketing program on your behalf.
An integrated approach should be taken to ensure your property is promoted through multiple media channels. This may include web and social media advertising, as well as traditional forms of advertising such as newspaper listings, signage, and flyers. Your agent should have a strong understanding of the local market and target audience, enabling them to create a tailored marketing plan that best suits your property and its unique features.
After prospective buyers have looked at your property, your agent should follow up to gather their feedback. This information is critical for evaluating the effectiveness of your marketing strategy and determining any necessary adjustments. Your real estate agent will be able to advise you on the best approach, incorporating seller feedback into your overall marketing plan to help maximize interest in your property.
Ultimately, a well-executed marketing campaign will not only increase the chances of attracting more buyers or lessees but also help to ensure a smooth and timely sale or lease of your property.
ADDING VALUE TO YOUR PROPERTY
Improving the appearance of your property is a great way to add value in the mind of the buyer or lessee as well as increase your prospects of a successful result.
Ten improvements to consider include:
- Cleaning, organising and neutralising your property can make it look bigger and more like a blank canvas for prospective buyers or lessee’s.
- Keep your lawns and gardens green, healthy and well-maintained at all times.
- Update your kitchen by adding appliances, renovating cheaper hardware such as knobs and re-painting kitchen cabinets.
- Update your bathroom fixtures such as taps in sinks and showers plus ensuring there is no visible mould.
- Build a fence as this can enhance the perception of value, increase privacy as well as security for children and pets.
- Repair any broken gutters and ensure they are well-cleaned.
- Adding lighting to your outdoor areas to enhance aesthetic appeal and feelings of safety in your home.
- Ensure that you have ample storage space on display as this is a key part of being able to organise any house.
- Convert any unused rooms into something a buyer or lessee would want to see such as a bedroom, workspace, gym or library.
- Decluttering as much as possible, making you’re the property is bright and airy with the removal of any odor smells from pets, mould etc
Presenting your home to buyers or lessee’s during the inspection times is an important part of a properties marketing plan, it is also an important part of the sales process.
Although prospective buyers or lessees are guests in your property, it’s essential that you present your home in a way that will encourage them to imagine living there.
On the days when your property is being shown the prospective buyers or lessees, there are a few ways to subtly help make your home more welcoming to buyers:
- Check the temperature and make sure that the house isn’t too cold or too hot.
- Create a welcoming mood to your property by playing some unobtrusive background music that can help distract from the noise.
- Lighting a pleasant and natural incense to add a refreshing scent though out the property
- Open blinds and windows to let in as much light as possible and turn on all the lights on the property.
Partially close blinds in rooms where the view from the window may not be very appealing.
Effective Marketing Strategies
First thing to remember, the only difference between an average price and a premium price is the agent who you choose!
When selling or leasing a property through private treaty, you will need to negotiate a selling or leasing price with prospective purchasers. Whilst you want to get the best possible sale price for your property, the prospective buyer is looking to purchase at the lowest possible price.
Here are some considerations to help you through the negotiation process.
Firstly, start with a fair price, as overpricing your property will only drive interest away. Asking prices should be based on recent sale prices of comparable homes in your local area
It is also important to review and understand your position. Do you need to sell/lease quickly, or do you have time on your side? Is buyer demand in your area strong and have you had a lot of interest in your property? Depending on your position, you can adjust your negotiation approach.
Put yourself in the buyer’s or lessees shoes, by understanding the perspective of the buyer or lessee you will be able to negotiate from a stronger position. For example, a prospective buyer or lessee may be willing to pay a little more should they need to move urgently, and you can fulfill a quicker the takeover date soon.
It is also important to be prepared to compromise in order to achieve a win-win situation for both parties.
As a seller or lessor, you are likely to have an emotional attachment to the property you are selling, which can impact your judgment and negotiation tactics. Working with an experienced real estate agent who is skilled in negotiation and has a strong knowledge of your local market can be one of the best ways you can maximize your sale price.
They will lead the negation process and provide crucial information to help you make informed decisions that ultimately lead you to achieve the most favorable outcome.
With selling or leasing at MDT Property Group Bali, we strongly recommend all sellers and lessors confirm that the agent they are dealing with is a member of AREBI (The governing body for Real Estate in Indonesia) and request a copy of their membership number and photo proof they are a qualified real estate broker. Secondly, we recommend you confirm that the company you are working with has a fixed office, their own independent website, and they can confirm they are a legitimate business by showing you their NIB (Normor Induk Berusaha) or PT (Perseroan Terbatas) numbers on request. These are managed by the Ministry of Investment/Indonesia Investment Coordinating Board (BKPM) Sadly, in Bali there is a large number of unscrupulous individuals who claim to be real estate agents or freelance real estate brokers who operate solely though anonymity of social media. These individuals are not qualified to sell or lease properties and are well known for operating scams and fraudulent businesses. These people are almost impossible to track down should something go wrong.
At MDT Property Group Bali all our agents are experienced negotiators and local market experts. Contact our office today to find out how they can help you achieve the best sale price for your property.