Sellers Must Never Neglect “Feelings” Of Buyer
This 5 Room HDB in Fernvale was sold at Record Price!
So the question is – how did we manage to sell this property at a record price, $40k ABOVE its valuation?
I posed this question to the buyers who offered to buy the unit. And their answers were identical – ‘the feeling for the unit was right’. As a seller, you would probably struggle to understand what and how this means to you. It is very straightforward; let me make this simple for you.
A buyer typically has two trains of thoughts when they are considering to buy any product. The first is the Emotional Appeal, which comes when they view or see the product. This is then followed by Logical Reasoning – the analytical thought process, which plays a critical role when they decide to purchase and make an offer.
The 3 offers for this 5-room flat was $605k, $638k and $640k respectively. These keen buyers ‘felt’ that the unit was right for them and subsequently used their logical reasoning to justify a price. The buyer who offered $605k thought their offer was reasonable since all the other neighbouring units of the same size had transacted around the same price. But the other 2 buyers felt that it was only logical and entirely justifiable to offer a higher price ($638k and $640k) given the extensive renovation that went into the unit.
So how do sellers like yourself create that emotional appeal, the feeling that will hook buyers in no time?
You must stop thinking like a seller. When you have your ‘seller mentality’ on, you tend to be blinded by the flaws of the unit. And these flaws could add up to reduce the emotional appeal of the unit, thus affecting the decision of purchase or even the price. It is important to remember that as much as you are keen to sell your place, the buyers are looking for their next home. It’s important that you set your property up to make it ‘feel right’ for its potential owners.
This happens a lot, really. And it results in properties being sold at record low prices and sometimes, getting no offers at all. This CAN be prevented – I am a firm believer that all properties can be sold.
This is why you absolutely need a professional, a trusted and experienced agent to give you an honest assessment of your property. He/ she will then be able to identify the flaws and come up with creative solutions to help you better position and price your home in today’s competitive marketplace.
This, of course, is not a definitive method to achieve record-high prices. No one can guarantee you that. But it is definitely the right step towards that – you will most certainly see an increase in your chances to getting that first viewing and offer. And most importantly, an offer that does your home justice – at its best possible price!
So this is where I come in. I help give home sellers a peace of mind and a clear perspective on how to best market their home. Apart from this 5 room flat, I have helped over hundreds of people buy, sell, invest and upgrade their homes. And I am most confident that I can assist you in creating a realistic yet effective plan to sell your house to its next rightful owner. All you need to do is to drop me a message!
I have not one but a series of highly-effective tools and tricks that I can share with you.
The ‘Simple’ 4-Steps Property Assessment Tool
The ‘Simple’ Multi-channel Digital Marketing
The TRA Phases of Selling: Testing, Response, Analysis
Reach out to me, and I’d be happy to give you a free analysis for your property.
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