Before listing a home for sale, it’s important to do extensive research. Studying trends and becoming an educated home seller are the first steps to coming up with the proper price on a home in Malaysia.
Look at the local housing market. For example, if you’re looking @ properties in Selangor, don’t base the prices on what is current in one of its suburbs. The best place to check prices is directly in the neighborhood where the home is selling. There will be the same views and the same local amenities that will impact the price. Compare similar houses. If the home is a one bedroom, check one bedroom prices in the area. A three family home will not have comparable prices to a one family home.
Check the selling trends in the area for the past year. Start back as far as one year ago when studying prices. Whether the sales have gone up or down for the past year, will have an impact on the price of the home today and if it will sell quickly. Once the local market is determined, it’s smart to set the home selling price just under the lowest in the neighborhood. Many homes lower their price as the months go by when it doesn’t sell, which strikes as desperation (see 4 Tips on the Best Times to Buy or Sell a House). Starting out a bit lower eliminates the need to lower the price to get a sale.
The most important piece of information needed while searching for the perfect selling price is an appraisal or true worth of the home. Many sellers attach sentimental value to the home. Buyers are not interested in sentiment. They want true value reflected in the price. Things like house condition, new repairs, amount of bedrooms and bathrooms and an outstanding view directly impact the housing price, and how much a buyer would be willing to pay. A professional appraiser can inspect the home and deliver an accurate idea of the price of the home. Buyers interested in the home will often hire their own appraiser who will give them approximately the same price too.
Online real estate agents can be an important resource to selling a home. They have valuable house selling tips that can help speed up the sale of a home. Working with a real estate agent does not mean the home seller does not have to do his or her research. Home sellers work best with agents when they are informed and knowledgeable enough to make smart decisions.