How to Sell Your Property at Record Breaking Price?

Updated on 14 Mar 2022

I think you have seen many of my useful tips for homebuyers.

In this article, I decided to share something different.

Recently, it’s very common to see many properties sold above valuation.

As a seller, you definitely want to sell at the highest price.

So, my topic today is about how to sell your property at record breaking price.

1.  Correct Timing

Knowing when to buy, what to buy is not good enough.

Because most importantly is to exit when the time is ripe.

And now is one of the best time to sell your property.

You can’t find any better timing to witness so many HDB flats sold for $1mil and above. (A record total of 261 million-dollar HDB flats were sold in 2021).

Just recently, we seen a Yishun 30-year-old sold for $1.038mil. (Walao eh!)

Demand is higher than supply.  It’s truly, truly a seller’s market now.

Strike while the iron is hot!

2.  Positioning Strategy

Most buyers will just look at the price, floor level and unit size.

And they will get the judgement from there.

So how are you going to sell at record breaking price?

A positioning strategy can help to distinguish your unit from your competitors.

Understand your competitors in the project, so that you can better position your unit.

For example, what type units are they selling now? What size, which floor, what facing and their asking price?

From there, you can find out your advantage and identify your downside to make preparation.

And justify why your unit is worth for a record breaking price.

3.  Comparative Market Analysis

Your buyers are not looking at just one project. They will consider and compare yours and other projects nearby.

Similar to positioning strategy which is about the competition in the project itself, now we expand our radar to the neighborhood.

Do a comparative marketing analysis (CMA) among the new launch and resale condo nearby.

Comparative Marketing Analysis to help you sell property at higher price

For example, which resale projects nearby are popular? How old are the projects? What are the size and layout? How is their facilities? How far is the walking distance to the MRT? What is the distance to Primary School? And most importantly the price.

Buying doing that, you can identify the unique selling points and lead to your advantage.

4.  Home Staging

You Never Get a Second Chance to Make a First Impression.

Most buyers today look for their next home online.

A home looks great in photos and videos can help you to entice more buyers come and view the unit physically.

The very first minute after stepping into the unit, most buyers already make their decision whether or not to buy.

Home Staging to help you sell higher and faster

Credit

See the difference before and after home staging? Very obvious right?

And that’s why before marketing the unit, I would assess the condition of the unit and propose to seller what sort of improvement can be done.

This can be as simple as reducing clutter, reorganizing spaces through furniture placement, decoration, repainting and cleaning.

Other than home staging, you may explore virtual staging.

Virtual staging allows buyer to visualize different perspective especially the potential interior design outcome.

Virtual Staging to help buyer visualize future interior design

5.  Video Marketing

Potential buyers are spending more and more time watching videos on their phones.

So instead of just putting your ads on PropertyGuru, the more effective way now is to do video marketing.

Video Marketing for Home Tour can push to more potential buyers

Advertising your video on Facebook, Instagram and YouTube.

We can target the right audience that we want, by setting the location, demographic, and interest.

For example, if your property is in Bedok, then you can target those people who stay in the East, between the age of 30 to 65 and etc.

By doing so, we can reach out to more potential buyers.

Facebook Targeting Ads to push your property to more potential buyers

6.  Memorable Viewing Experience

Whenever you visit a new launch showflat, you will receive a thick brochure copy, right?

But did you receive any brochure after viewing a resale condo unit?  I don’t think so…

I will do a brochure for every resale unit like how we sell the new launch project.

The brochure should at least include photos, floorplan and unique selling points. And of course, you can add more…

And let the buyers take home so they can remember the beauty of your unit.

Sample Brochure for buyers to bring home

7.  Price Negotiation

Price negotiation is not so simple but I will show you one technique that you can apply easily.

Most buyers initial offer will often be lower than what they’re actually willing to pay.

counter offer

This is when a counter-offer is essential to hit your expectation.

Someone who really wants to buy will remain engaged and come back to you with a higher offer.

However, don’t be too greedy and ask for sky high price until buyers turnoff.

Looks simple but it could be complex if you can’t handle this well.

Summary

I hope all these tips will give you some ideas on how you could elevate the unit you are selling.

So now if you are looking to sell your home, look nowhere else, you can engage me to work out the deal for you.

Plan For Yourself is very Important!

It’s not just about selling at the record breaking price, but you may also end up buying high as well in this seller’s market.

I suggest we have a short meet up first where I can share with you based on your case and what is the best scenario moving forward and based on the market now what are the projects best suit you!

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    charlane
    charlane
    6 February 2023
    Stephen is very professional and trustworthy agent, he's very responsive and treat all customers with respect. He has put in a lot of effort in making sure my transaction is handled properly, on time and on top of priority. I have already recommended him to my friends that's interested in buying property. Thanks Stephen.
    Elwin840808 Elwin
    Elwin840808 Elwin
    16 January 2023
    Stephen really a good agent. I was new to home selling and have heard many about terrible agents. Stephen was professional and he never made me felt uncomfortable. He is professional, experienced and helpful agent. Highly recommend.
    Marchelina Vincensia
    Marchelina Vincensia
    17 August 2022
    I’ve met so many property agents in my life but Stephen is really a rare find. If you are looking for someone unconventional, who gives advice based on data and answer all your easy and hard questions tirelessly, then I couldn’t recommend Stephen more. A very hardworking, humble and strategic agent, highly recommend!
    Sei Chia Lau
    Sei Chia Lau
    4 August 2022
    Stephen is efficient, responsive and informative. He is able to give us useful advise and guide us patiently. Overall, his service is great👍
    Stanley Tan
    Stanley Tan
    26 June 2022
    Stephen is experienced, analytical and views properties comprehensively. This is evident right from the beginning when we chanced upon his informative YouTube videos. He provided us invaluable advice throughout the process of our property purchase. His calm, humble and polite nature made him an approachable professional to discuss the many questions we had. He was patient with his technical explanations as well as his insightful suggestions. He placed our interests first, in the buyers' shoes, gave us space to consider and has never rushed us to make decisions without proper considerations. His attentiveness goes a long way. Stephen carefully planned out the timeline for us and gave us reminders to complete the various items ahead of the deadlines to avoid unwanted hiccups. It was entirely a worry-free process. Stephen even gone the extra mile to meet us at the law firm to show us the way and be in person with us to sign the S&P. He made our property purchase a great buy and an enjoyable experience. Thank you, Stephen.
    Leo Lim
    Leo Lim
    21 March 2022
    I would like to send a note of commendation to Stephen Chong for his dedication, professionalism, diligence and patience in handling of property transaction. I would absolutely recommend Stephen Chong to buyers and sellers who are considering to buy or sell their homes.
    Lim Ming Hwee
    Lim Ming Hwee
    26 February 2022
    Stephen is a very good agent who goes beyond his way to ensure that his clients are happy. He is very patient and helpful, and will always give good advice.
    Joseph Sze
    Joseph Sze
    24 December 2021
    Stephen is a professional & responsible person who has provided good quality customer services to our recent Condo housing purchase & related matters. I found he has put in great efforts and gone for extre miles to assist us in the whole process and related purchase issues. Excellent work, Stephen!👍🏼👍🏼👍🏼
    SZ Lim
    SZ Lim
    20 July 2021
    Was going thru Stephen's video when I noticed he had a google review panel up. Going to copy paste my review on his FB page from 2019. I still stand by my review. Stephen was very professional throughout our engagement process. I first engaged Stephen as his effort could be seen thru the videos he made. The videos were informative, detailed, yet easy to understand from a beginners point of view. Could also see the improvement of his videos as time passes, and that speaks volumes about one's character on his eagerness to improve and share. During my engagement with him, Stephen was very professional. Since I was very new in the scene, I required alot of guidance and honesty. Stephen was very upfront with me on many items and did not try to hide any facts from me. As a first time buyer, both good and bad prospects were laid out after his detailed analysis on my current financial condition and also on the projects we went to see. Comparing to other agents who will just blab anything that benefits their sales point, Stephen was straightforward and truthful on the issue. I have met quite a few agents but would highly recommend Stephen to people who are looking for properties, be it looking for a place to stay, or looking for a property to invest.
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