Tips To Sell Off Your Unit Quickly
#1 Appraise the demand for the unit before selling your housing unit
So, you want to sell your housing unit quickly. Firstly, we have to assess the demand for the unit that is being sold. We can approximate the demand of a unit through its past transactions.
If the unit is a HDB flat, we start by looking at the “resale flat price”. We check how many units and price of each unit are being sold in the last 6-month and 12-month period in the HDB town or even down to the street level.
HDB Resale Flat Price Source: HDB
For private residential units, we look at Urban Redevelopment Authority (URA)’s Private Residential Property Transactions where you can search by the appropriate project name. Primarily, this is used for condominiums and apartments. We can also search by property type and postal district. This is used for landed properties or cluster housing.
Private Residential Property Transactions Source:URA
Next, we also look at the resale data. We see how many units of the particular type of house that you are selling. That will give you a gauge if there are buyers interested to buy the unit that you are selling.
If there are multiple transactions in the condominium or HDB estate, it is a good indication that there would be strong demand for the unit that you are selling. However, it could also mean that there are not many units available for sale in the area. To check if this is true, we move on to our second tip.
#2 Evaluate your competition
Check if there are many of your neighbours that are putting up their unit for sale. If there are, and your research also shows low demand of the unit from past transactions, it would mean that the actual demand for your particular type of unit is low.
So, where and how do we check if your neighbours are selling their unit? Generally, you can do this by going to popular multiple listing portals and select filters based on your unit type, your area or your condominium. Of course, do keep in mind that there might be a few repeated advertisements of the same unit.
If there are many similar units that are up for sale, we will classify the level of competition as “high”. Buyers have more choices if they are looking in the area, and in order to stand out, you need to have a unique selling point that can entice the buyer to choose your unit over the rest. In order to perform better than the competition and sell the unit, marketing is key.
#3 A Strong Marketing Matrix For Your Unit
At Home Quarters, we emphasize on customized marketing strategies that will showcase your unit to the right audience. In this aspect, there is no one-size-fits-all solution.
We would position the unique selling point of the unit and re-package the advantages to the potential buyers in the area. In this way, we can reach buyers that are looking for the unit perfect for their needs. For example, if the family-friendly unit is close to good schools, and are looking for a unit in the East, we would be activating our precise digital audience targeting methods.
It is not about just producing an amazing video, but the ability to promote this particular video featuring your unit, to the correct audience that will get the house sold! Of course, there are other factors that will affect how fast a unit get sold. This includes price, lease tenure, and layout. We would work out these details on a case by case basis.
If you have questions or if you are thinking about properly showcasing your house for sale, whatsapp message or call KC from Home Quarters and begin finding your new home today: +65 8809 2889! Or drop us an email, commenting on our YouTube or contacting us through our Facebook and Instagram pages!
If you would like to schedule a virtual viewing, that is also possible – you can read all about what you need to look out for during a property virtual viewing here before COVID-19 end.
Reach out to us any way you like and we love to help you out and answer any questions you have to sell your house so that you can move on to the next big thing in life.
That’s it for this article! Stay safe everybody, and remember, call Home Quarters and start packing!