Huh? Why My House Is Still NOT Sold? - Part 2: Price Strategy
Different pricing strategies should be used in today’s property market.
You should take into consideration how people categorise and filter advertisements on online property portals.
Never sell your property by luck - all property can be sold with a decent amount of marketing effort.
From 2009 to 2013, the property market experienced an upmarket cycle. Selling HDB flats was relatively easy. Sellers often only needed to post one advertisement and host one day of viewing to attract 5 to 6 viewers and receive up to 3 offers. Some sellers could even use strategies like view-to-offer and negotiable price.
But today’s market is not as good as that period. What kind of price strategy should sellers use under today’s market circumstances?
In online property portals, it is simply not possible to not disclose your price on your advertisement. You will also need to take into consideration that users can easily categorise what they see on online property portals, with some viewers filtering out prices above a certain level. This is especially important if you aim to have your advertisement appear in a certain column.
Whether your agent is helping you to market your property or you yourself are running your own advertisement, never sell your property by luck. Always make sure that the person advertising knows how to do the job right.
I have tried selling property older than 40 years. Even though there was lower demand due to the age, I still managed to sell it off. There are no houses that cannot be sold, but only people who don’t know how to sell their house.