When selling or renting out your property it is important to make sure that your property stands out from the crowd. With such an abundance of choice for property investors and renters it is even more vital to make sure your property does not get lost in realms of listings.
But how do you grab the attention of potential investors or renters to make your property more appealing than the one in the next building, or even the one upstairs in same building as yours?
1. Spend time researching
Check out your competition. Have a browse on the internet to see what other similar properties are available and take advantage of the knowledge of real estate agents. A good agent will be your eyes and ears on the market advising you of market desires and values, and should give you advice on how to sell or let your property. If your property isn’t shifting, don’t just assume that by reducing the price that should speed the process along. Properties in better condition with more neutral decor rent quicker, so see what specification comparable properties have to gauge what your property is up against to stand out from the crowd.
2. Presentation and good photos are key
Enlisting the services of a professional photographer armed with a good camera and techniques on the best way to photograph each room will go a long way to showing off your property. But before they set up their tripod, make sure that you have decluttered – less is certainly more when it comes to taking a good photo. That bright blue rug may feel soft underfoot but is could look garish or even take over a photo drawing people’s eye to it rather than the rest of the room. So step back, take a few test photos to see how the room photographs before the professionals arrive, and consider rolling up the rug and clearing worktops. Entice your potential purchaser or renter online before they have even stepped foot inside!
3. Do not follow the crowd
As many investors purchase for investment purposes whether that is for capital appreciation or to generate an income through buy-to-let, you could find yourself in the same boat as your neighbours. Many residential developments in Thailand are high in height meaning that there could potentially be a 100 other investors in the same boat as yourself making it even more important to make your property stand out from the crowd. If the units in your building lack good storage, then consider fitting clever storage solutions, or if your unit has good outside space then think about providing outdoor furniture. Again check your competition and try and achieve what something different without veering too off the norm!
4. Help your agent
Make it easy to sell or rent your property. Where possible make sure access is straightforward so real estate agents can show people round without having to spend half a day tracking down keys – if it is too much hassle to get in the property, they probably won’t show it but the one next door instead. If you can, leave a set of keys with the concierge, juristic office or even with the agent. If your agent want to feature your property on one of their social media platforms such as Instagram then jump at this chance! Also make sure your agent has up to date contact details for you so that they can make contact with you quickly. Don’t forget to let them know if you are going on holiday or if there is a time that they you will have limited access to your phone or emails. You would not want to miss out on an offer because the agent can’t get hold of you!
5. Be open to negotiations
Don’t necessarily turn down an offer that is subject to a condition. If a potential renter has requested for the bedroom to be painted before they move in, weigh up this cost of having the bedroom painted versus if the property was left empty for another month. Being open to negotiations often pays off financially in the long run. Even if someone has offered slightly below asking price, calculate whether this reduction in rent over the course of the year cancels out any potential void period whilst waiting for another offer.