Selling your property can be both challenging and exciting. No matter what you are, an investor or landlord, you will need proper way to sell your property since it is valuable asset that should earn you profit at the best price. It is highly recommended to hire a professional property broker to help you decide what kind of method in selling property that you will make you feel more secure. Besides, a broker will help you with lots of things throughout the process of transaction including documentation and financial requirements.
Deciding the right method in selling property
Before deciding the best method in selling your property, it is important to determine the best price. As a seller, it is normal that you want to set highest price. However, you need to aware that unreasonable price can make potential buyer to back off. To decide the best price, you can discuss with your broker. Basically, determining the price is based on the state of the market, the current interest rates, type of your property, sold prices of the similar properties as yours in the area. It is important to set realistic yet profitable point for your property price.
Next, move to the method you can choose to sell your property. Generally, there are many ways you can choose to sell your property. Here are the two common methods you can choose:
- First method in selling property is private sell or is also called asking price. This method is actually more preferred by buyers because it is less intimidating. With this method, you set the price range prior then make it to the listing of asking price. Then, the buyers will know exactly the price they want. They will try to negotiate below the asking price though. That is why you need to set the price well before. Therefore, the price will be as much as you expected. Private sell or asking price is preferable for buyers. However, the method takes time since you will spend your time negotiating the best price with the potential buyers from time to time. This method is preferred if you sell your property without the urgency. If you want quick selling, this method is less recommended.
- Next method is auction. This method is more preferred by sellers. You need to discuss the expected price with your agent since you are not the one to conduct the auction process but your agent. The auction will be conducted until your agent reach highest bidder. The interesting part of auction is the competition and urgency between potential buyers. After discussing the reserve price of your property, your agent will help you set the date of the auction and advertise it. Then they will invite potential buyers and make them submit their offer. Once they are collected, your agent will present them to you. Then, you can decide which buyers that meet your expectation and go to further process of transaction. This method in selling property is recommended to find the highest deal.