12/05/2021
What happens when property owners exposed their house to more than a dozen of real estate agents? It usually creates a false impression to the buyers that the seller is desperate, but not in this case.
The sellers of this landed property in District 10 started with a wrong foot about two years. They appointed that exclusive agent who promised them the highest price, almost $1 million above the market valuation! When the exclusive marketing period is over, they opened up to more than a dozen others, creating confusion as prices & description were quoted differently. That was not very helpful at all. Like it or not, here's the truth!
Unlike in 1992, when I started my real estate career, landed homebuyers these days are more sophisticated. They know the price trend since information for past transactions is readily available. For buyers to pay a premium, the property must have a very strong USP (unique selling point). Ideally, the demand must also be higher than the supply in the neighbourhood. Having more salespeople is NOT going to help, but having a better salesperson makes the whole difference!
We found the right buyer for them & closed the sale on the spot at $7.38 million during the buyers' first viewing. Was it easy? Well, it seemed easy on the surface, but a lot of work has been done even before the viewing took place.
Before viewing this property, the buyer asked why it has been for sale for such a long time? She has been house hunting for almost a year & is very familiar with most listings in the market? I shared my honest opinion & showed some statistics that it is an excellent buy since she intends to do major restructuring to the house. It took a while before she decides to view it after I highlighted that the MRT is just 10 minutes walk, although many are not aware there is a shortcut. Going by the usual way that most people would walk, this would have been easily 20 minutes, if not more. Being a resident in the Holland neighbourhood has helped me know the surroundings inside out. The end result? A pair of happy buyers & happy sellers who have achieved a win-win situation! Isn't that awesome?
Are you looking to buy or sell your next landed property? My name is Alexs Chua. I have successfully brokered a few hundred landed houses throughout my real estate career since 1992. Let's chat! Call 97800000 today!
