How to sell your house in Dubai
Selling your house, the one that you have lived in, can be quite a task. House selling in a process, with steps that must be executed with diligence for getting the most desired results. Having said that, this entire experience of selling your home can be an emotionally and physically taxing experience. Here are a few points that can help you in this path. Read up and remember.
From the mind and not from the heart
Prepare yourself by looking at the entire process from a completely business point of view. Align and plan your steps in a logical way. I say this to you because I know that this house that you are putting in the market has been the hearth where you and your family has lived. Memories were made. One of the ways in which you can achieve this is reminding yourself of what lies ahead in the future. Though the memories were made in the house, but you made them and you will continue to make memories wherever you go. This is but a necessary step to distancing emotionally from the house to ensure that you at the top of your game.
Get in touch with a real estate agent
Unless you have some experience in selling a real estate, I cannot advise you to fly solo on this one. Don’t get me wrong here, I know for a determined individual everything is possible. I say this on the assumption that if you are going to put your house on the market, you will surely be going to be on a timeline. The learning curve in selling realty may be steep or relaxed depending on your timeline.
Any real estate agent worth their salt will not come cheap, which means that you will have to part away with 2-6% of the sale price of your property. Having said that, apart from helping you to set a competitive price for your house (overpriced homes do not sell) and getting potential buyers for your house, real estate agents come with deep knowledge and experience about selling realty. Paperwork is super important in realty transactions and its even more so in Dubai. With myriad of regulations, real estate agents help you navigate through the legal framework, making sure that you have all the necessary formalities are taken care off for a smooth ride. Under Dubai’s RERA guidelines, you may engage upto 3 Real Estate Agents parallelly.
Set the price which is right
This is a no brainer. The right price is a differentiator between a house that sells quick like a hot cake and a house that sits in the listings like a stubborn guest that refuses to leave. Do your research, seriously, do your research. Look online for the prices in your area and of similar houses in the market. This should you give to some information on the market mood. Having said that, pricing your house slightly lower than the going market price can have its advantages 🙂
Be flexible with your asking price
Negotiations will happen, and that’s the reality. Be prepared for it, leave some wriggle room for yourself while setting your selling price. Remember, being rigid and inflexible is the surest way for you to make your proposition unpalatable for the potential buyer.
Don’t expect to sell in the summer
Though this explains itself, I’ll still have a go at it.
Dubai lies in an arid country. The summers are super hot. If you have spent even one summer here, you’ll know what I mean here. Most of the potential buyers/investors are away during this time and hence efforts put in during this time may not bear the desired fruits. This point should be ignored if you have a ready buyer at hand, in which case, sell sell sell.
Get professional pictures
Smartphone Camera + Filters = Professional Photographer grade Pictures?
No. No. And. NO
Amateur photographs are the leading “interest killers”, “Turn offs” for potential buyers today. With realty search originating primarily online these days, Professional images, more often than not are the most overlooked aspect when selling real estate. Professionally taken images project the quality that you are offering and also your intent, this in-turn attracts serious buyers who you can do business with. Remember it take more than just an expensive camera to take tasteful pictures. In doing this you’ll be doing immense favour to yourself and everyone associated with the sale.
Be genuine and transparent
As a real estate agent myself, I can tell you by sheer experience that coming across an “issue” while on a viewing with a potential buyer is the most embarrassing thing that can happen to an agent (and you, if you are trying to sell it on your own). This is the quickest and the surest way to lose the confidence and respect of the buyer.
How does one avoid this landmine? It’s simple. Fix the “issue” before buyer engagement, if that cannot be done then adjust your pricing compensatory to the issue. Regardless of what you choose to do, provide a full disclosure ahead of time. Let the agent and the buyer know what they are getting into. This is a courtesy everyone will appreciate to receive.
Prepare for the sale
In the human brain, more than 30% of the cortex is dedicated to vision, in other words, humans are visual animals. A clean and kept house always goes a long way towards the appreciation of the house in question. When a viewing happens, and it can happen even at uncomfortable hours, you have to be prepared to show them around. The house has to be clean. Period. Keeping the house clean and presentable also projects the seriousness and intent for the sale to the potential buyers. Choose to avoid this critical factor at your own peril.
Screen potential buyers
Let’s completely avoid a potential buyer who has no buying potential shall we?
Ask open questions like how did they find you, By then they are planning to settle down. Ask them if they have seen similar properties and what has made them come to you after seeing the other ones. Also be clear about your payment terms and insist on a manager’s cheque to read the response.
I hope this article helps you in formulating a strategy and get you started on successfully selling your home. And now, a bit of a sales pitch.
Lime House Real Estate is a lithe and boutique real estate firm based in Dubai, UAE. If you’d like to know about the services we offer or for general real estate related advice, send us an email at firstname.lastname@example.org or simply call us on +971 4 512 4023. Alternatively you can reach us via our Facebook page @ https://facebook.com/limehousedxb
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