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Top 5 Most Important factors to consider when you selling a property

Top 5 Most Important factors to consider when you selling a property

Real Estate is one of the easiest yet the most profitable
industry one can venture in. Though it’s
not easy to sell a property, ones you sell you are promised of a tremendous
impact in your business transaction. It also presents a chance for economic
growth and social development in a certain area. It’s a dream  for every real estate to make high profits
from the investment, and if this is the case we have identified  several 
factors that you should consider before putting up your property on the
market.

1.       Price

Pricing your property too high or too low can chase away
your potential buyers. If for example, a  house is highly priced and does not match such
a value in reality, clients may not be able to afford it or may consider it
unworthy. If the house is low priced too, it may raise clients eyebrows on what
could have been a problem with such a home and maybe scared away from such
property It’s therefore very important to know the value of your house.  When setting up a price to your property it is
important to understand the market competition in your neighborhood. The other
thing you could do is hiring an agent. A real estate agent will help you in
setting the price and in selling of the property because they have an
experience in the industry. Here is a simple guideline
on how to price your home for sale

2.       Supply and demand

It’s important to consider all situations in the market
because there are some that favor the selling of a property while others don’t.
 Real estate, like other assets is
subject to supply and demand.  When the demand
is high the price rises. When supply is low, the demand for the limited
properties goes up and the prices of the properties increase as well. This means
that selling that selling similar properties when there is an oversupply or
when the demand is too low will not in any way favor you. It will therefore
advisable to wait for the right market condition to avoid making losses from
your properties.

3.        Marketing
strategy

We are living in an era where potential buyers are not only
looking for a good listing but also  listings that are captivating.  Technology has changed everything for better. There
so many popular sites where buyers search for the properties without
necessarily doing a physical visit but chances are you are not on all of them. It’s
good list your properties on these sites to ensure that you are tapped into the
largest pool of buyers. There are
top 7 real estate listing sites and agencies in Kenya
that you can consider
listing o. some are free and other are paid.  The other thing you can consider is social
media marketing. If used rightly, Social media is a very powerful tool that can
bring remarkable success to your real estate business. It helps you reach a
wide range of audience within a very short time but you must consider these tips
to make sure your properties stand out in the market.
The main point is not
listing on many sites it’s about how you showcase your properties. Make sure
you have taken high quality professional photos that will grab attention of the
many buyers scrolling through different websites

In addition, we have rolled out a map-based
search feature
that allows you to search for property on a map. This
provides you an ability to compare prices with properties within a similar
range to arrive at a better value for your money.  

4.      Government policies

Did you know that all land is government owned? It’s the government
that is responsible for tittle deeds issuing, transfer processes and all
policies of selling and buying a property are government base. The government
can offer incentives to accelerate real estate industry. For instance, the
government can provide credit that allows more people to afford property and
thus drive prices upwards. Through infrastructural development like roads,
sewer, electricity connections, the government can make a hitherto
underdeveloped area a prime area for real estate growth.

5.      Property Tax

One thing you should never forget before selling the
property in the property tax Just make sure you have  paid up all the taxes due on your property
before putting it up for sale.  If you do not want to pay them
yourself, then at least make sure that the buyer pays them when he buys the
property from you. Also important to note , changes in taxation can either
enhance to decrease investor appetite. If for instance the government raises
the capital gains tax, less people would be willing to sell property while
fewer people will afford the resultant property prices. If the government
allows higher mortgage relief, this may lead to an increased uptake.

Always ensure that the property tax receipts are regularly
updated and in perfect working condition so that they can be shown to the new
owner. Learn real
estate taxation
from Land rates, Land Rent, Income tax, Capital Gains,
stamp duty and VAT.



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