In a previous article, we shared some of the most difficult types of properties to sell in Malaysia. Such “problematic” properties may be tougher to sell, but for experienced agents with a good eye for detail and charismatic personality, paired with a solid strategy and reasonable asking price, nothing’s impossible. Here are some tips from real estate experts on how to close a deal on these notoriously hard-to-sell properties:
Be honest with the buyer
Honesty is the best policy when it comes to these kinds of properties. Buyers have the right to know about any significant incidence or violent crime that has happened in the property, and it also reflects on the real estate agent’s good character and integrity when they do not try to hide the truth in order to close a sale.
Understand the buyer’s needs
It is imperative that the agent or negotiator understands the buyer’s needs, and provide them useful recommendations or alternatives to meet their requirements, be it personal preferences or budget. A good way to is to start off by asking the buyer these 10 questions in order to be on the same page.
Reduce asking price
Just like buying clothes from the clearance rack at Uniqlo, if the property is cheaper than market price, somebody is more likely to buy it despite the flaws. For example, a person who doesn’t believe in ghosts is more likely to buy ‘haunted’ property at a discounted price than a person who fears the supernatural.
Highlight positive aspects
Another way to successfully close a deal is to highlight, or sell, the positive aspects of the property (without hiding the flaws) instead of lingering on the negative features. For example, a smelly property may stink from the outside, but the inside is perfectly normal; or that a property next to a construction site will increase in value once the construction is complete (e.g. MRT station).
Discuss with owner to fix the problem
Sometimes, all it takes is a little discussion to iron things out between the buyer and seller. Call in an exorcist or buy a heavy-duty air purifier if you must; taking a look at the situation from a different perspective might help solve your problem and land you a sale.