What is the best way to sell an off-the-plan property?
It should goes without saying that a real estate agent is expected to do miracles. This is especially true when dealing with off-plan houses.
It’s difficult to sell a property that hasn’t been built yet. You can only hope that a display unit would suffice for would-be purchasers where brokers managing ready homes may show customers what a property looks and feels like. You’ll have to cross your fingers and make do with artist ideas if this isn’t possible. Nice!
Never has there been a good opportunity to be an off-plan realtor, with a rising number of customers looking at and prepared to use it for yet-to-be-built residences. Certainly, it has its own set of difficulties. However, there are various actions you may take to ensure your success.
We got down with Wassim Abdallah, Better homes’ off-plan manager, to acquire as many practical recommendations as possible. Wassim has over 15 years of expertise in the sector and is a wealth of useful ideas and tactics that have helped him advance in his profession.
On this are Wassim’s top five pieces of advice for aspiring agents or those looking to brush up on their knowledge of the off-plan property market.
1. Understand what you’re selling on the inside and out.
In this job, like in all others involving sales, how well you know your product is critical. Your understanding of the benefits and drawbacks puts you in the greatest position to communicate to prospective customers whether they should choose what you’re giving over the many alternatives available.
Need as much data as you possibly can. Everything from the date of completion to the fitted and trims, agreements, payment choices, structural specifications, and even the developer’s background. Don’t limit yourself to pamphlets and factsheets. Look for press releases and news articles. While you’re at it, learn more about the place and the people that live there.
Contacting the developer is an excellent place to start. They are the ones that have a need to understand as well as a want to learn about the property.
2. Be aware of other new construction projects in the vicinity.
Once you’ve covered your basics, extend your study by looking at the competitors in the industry and honing in on the area you specialize in.
Prospective buyers explore alternative residences within a given price range in addition to limiting down their selections based on location. You must be able to portray what you’re giving as more desired than what else is available if you want to boost your capacity to sell.
Begin by looking for other ventures and initiatives in the neighbourhood, then expand from that. Use while making a list of features that distinguish your property from others.
3. Gain a better understanding of the secondary market.
As a broker, each piece of information is beneficial. Having a finger on the market and new patterns, whether it be for off-plan or start moving houses, may put you miles ahead of the competition.
Having purchasers deciding between the off-plan and secondary markets to get the greatest deal, it’s important to understand what’s available on both sides.
Obtain as much information as you want to on the activity and statistics in the secondary market, just like you would for any fresh advances in the world.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.
