Insider Useful Tips To Sell Your Property Faster (Even In A Market As Competitive as Hong Kong)

Hong Kong - Sell HK property

In a highly competitive real estate market mixed with a downturn in economy where supply tends to outstrip demand, selling a property fast doesn’t usually happen. There are obviously ways you can sell a home faster, one of which is by lowering the price but nobody wants to do that if there are other options available. Price point aside, there are plenty of creative and strategic ways you can do do enhance a home’s attractiveness and consumer appeal besides lowering the asking price. The real estate trends this year are telling us that the year 2017 is the year to sell. If you are considering and taking action to start the selling process, the good news is that you are already ahead of the curve. In the real estate industry as many of you know, timing and location is everything! Location can make or break a deal for legitimate reasons that we have discussed in our previous blog articles. Do refer back to our previous posts for more insider information about the real estate market especially pertaining to Hong Kong and the Asia region. Timing alone can be the deciding factor on how fast you are able to get your property off the market and money in your pocket, and in a city like Hong kong, navigating the real estate industry is literally like swimming in an ocean infested with sharks who haven’t eaten in weeks. The market is tough, which means your strategies to sell a home needs to be constantly updated, evolving and staying at the top of its game, otherwise your listing will become a distant memory in many potential buyers’ eyes. 

If this is not your first rodeo, you know the drill. There’s a lot that’s involved when it comes to selling a property intelligently. It’s one thing to attempt to sell, but a whole other story to successfully sell at a price that’s a good deal for your standards. For starters, if you don’t already having a trusted real estate agent, it’s time to get on the hunt for one because this person will be your go-to expert to help you with anything real estate related. Not to mention, there’s also the tedious job of taking professional quality listing photos, staging your home to attract potential buyers and constantly updating the different venues of marketing strategies. Here’s a good tip to remember: in a world that is as fast-paced as it is today, everything is constantly changing. A new year can mean new marketing strategies and new selling tactics, so get ready to play your game plan right for 2017.

The real estate market is always changing with the evolution of technology. Sometimes it’s more predictable and other times it can be quite uncertain, which is why we have compiled this great list of tips for both rookies and veteran sellers to take note of to sell a property faster. Whether you are looking to sell your property in a declining real estate market or a fairly vibrant one, these tried and tested useful tips given by real estate professionals below can help you learn how to step up your game, generate buyers’ interest and unleash your home for the best deal you can get. 

Be assertive about hiring the RIGHT agent for you

Finding the right real estate agent who understands your needs and can work smart with you is like trying to land that perfect spouse. There are thousands and millions of choices out there but finding the right person who meshes well with your work ethics, lifestyle and financial needs is like trying to find a needle in a haystack. It takes time, trial and error but when you do find that right agent, most of your work will be much more smooth sailing from there. How do you find the right agent when there are hundreds to thousands of real estate agencies and independent agents in your city? Not only does this person need to understand your needs, wants and desires, he or she should also be able to work autonomously and be capable of making the wisest decisions to take the most of the stress off of you. There is no perfect formula or qualities that make a real estate agent the right agent for you because it is all very dependent from person to person and case by case. There are simple ways you can go about starting your search for one though. To begin with, your agent should and must know the ins and outs of your market, and not just know it in the general sense but really understand it and know it like the back of their hand. Let’s talk about Hong Kong as an example. 

Hong Kong is not a big city compared to most metropolitans of the world if you measure it strictly by size. Hong Kong has about an area of 2,754 km², with a population size of about 7 million people. The urban area of Hong Kong has one of the highest population and employment density in the world with real estate property prices to match, topping it on the list of the most expensive real estate cities to live and invest in. Although the city area is small, Hong Kong is highly dense when talking about property. There are numerous residential neighbourhoods in Hong Kong each with its own distinct characteristics. What is interesting about Hong Kong is that neighbourhoods literally right next to each other can be a world of difference, and you don’t have to travel far to get a sudden change of scenery. This is one of the main reasons why Hong Kong is such an appealing city for expats to settle down in, as there’s something for everyone. This takes us back to the question of finding the right real estate agent. Real estate agents in Hong Kong are extremely competitive, but they should all have different areas of expertise in the industry. Finding a real estate agent who knows Hong Kong Island is not enough, you need to find an agent who knows right down to your neighbourhoods of interest, has a professional track record of making successful deals in those areas, is familiar with working with people of your demographic, so on and so forth. An agent who is great at working with locals in more local areas is probably not the right choice for you if you are an expat with properties to sell in more international neighbourhoods if you will. Work with someone who is professional and creative. In a competitive market as high as Hong Kong where everyone is vying for the same locations, you really need to stand out to make a mark in the industry. If you are trying to sell your home to the families demographic, a smart and creative agent might recommend staging your home to be more family and children-friendly. On the other hand, if you are listing a bachelor’s pad, consider turning one of the rooms in to a home office or “man cave” for showings. 

As you can see, it’s all about creativity and working with the right agent who can foresee and execute these strategies will put you in front and center view in front of the right potential buyers. You need to know your consumers in order to sell the product, therefore do not skimp on finding the ideal real estate agent to help you along with the selling process. The interview process is a very important but often neglected one. Most people will just walk in to a real estate firm and work with the first agent they meet. This is a mistake. An agent who is right for your friend might not be the right agent for you, therefore be patient and take the time to vet out the right person to partner up with. 

Get professional and emphasize on your listing photos

In today’s world where photos literally speak a thousand words, your home/property needs to be extra well-represented in its listing photos. Sellers think it’s okay to skimp on professional listing photos but you are losing a lot of leads by not investing in quality and professional photos. The majority of listings are online these days and the average attention span of most digitally-connected human beings are shorter than a goldfish, which means you have less than ten seconds to capture your audience’s interest with your listing photos. When selling your home, you have to do everything in your power to enhance its appeal and decrease its time on the market. Time is money and any additional time that a property is on the market can drastically affect your property’s attractiveness and selling value. This is why it’s imperative that you never cut corners during the selling process, and this begins with investing in quality photos that will actually capture the attention of potential buyers. The advancement of the digital age has propelled the real estate industry in the way that it now operates. Buyers now are able to access hundreds of thousands of high-quality photographs and videos of properties filtered to their ideal desires at the simple click of a button. If you want your home to make a stunning first impression - we’re talking about the “WOW Factor”, this is reason enough why it is essential that you get professional real estate photographs shot for your property listings. Professional photos can make your home look even more attractive to potential buyers whereby reducing its time spent on the listing market. It’s a simple fundamental concept; people like things that are aesthetically pleasing to look at. Nobody wants to look at dimly lit, blurry, and amateur photos of a home to invest in. It turns people away. It’s an opportunity cost for you as the seller to try to cut corners and count pennies because this is one of the first things that potential buyers will see. It’s the hook. Your home has to stand out! Give them the hook to draw them in to the negotiation process. 

Dont neglect the latest tech tools

It is year 2017. We cannot emphasize that enough. Professionals spanning all industries will be pulling out all the stops on the latest tech tools and strategies. Although a professional photographer is what you need to make your listing stand out, you will need to do more to get ahead of the game when anybody with a smartphone and the right business sense can build a flourishing business. Luxury real estate professionals are now investing in to 3-D virtual reality home tours and even drone photography to truly showcase a home. Our advice for you is to keep up with the latest technology or work with someone who is well-versed in the tech space. No business can expand on a global or even regional presence without the backing up digital tools. Lots of older professionals in all industries complain about the use of tech and how difficult it is to navigate but its indispensable knowledge that cannot be neglected in 2017 and beyond. 

Go Social! (Even if you are not a fan of social media)

Adding on to the importance of technological tools, we cannot forget about social media of course. Social media is all around us these days. Even big brands and corporations are finally understanding the importance of social media and how it can help business to consumer interaction in driving sales. Social media is not a simple concept to understand, it’s a whole new world of marketing - one that can be a gold mine if you know the secrets behind it. Make sure you and/or your real estate agent understands how to use social media for business purposes. It’s not enough to just showcase your home online, you need to list and have digital presence on the platforms where buyers are searching. Gone are the days when buyers would scour the newspapers for listings. now, everything is online and the more solid understanding you have of the digital space and how it can work for you in selling your home, the better it will be. Ask your agent where he or she plans to put your home’s online listing and why. Social platforms like Facebook and Instagram have special functions for small businesses to use their hyperlocal marketing capabilities to drive online traffic. 

In Hong Kong, we can still use most of the social media platforms that the rest of the world uses. Cross the border in to China and you are met with a whole new real estate world where things like Facebook, Instagram, Pinterest, Google and many more social platforms are blocked. China, specifically Shenzhen is the most advanced city now when it comes to the tech space. Just Wechat and Weibo alone has entirely transformed the way that businesses are built and run in China. It is a phenomenal and crazy powerful achievement that China has managed to incorporate all the functions of multiple western digital platforms all in to just one App. The entire country runs on one App supremely efficiently, even down to searching for, buying and selling real estate properties. We bring this up because it’s so important to know your locale and your demographic. What works as marketing tools for Hong Kong and abroad would not work in China. Understand your market, your consumers, their purchasing behaviour, and your property will sell much faster than if you just relied on the traditional methods passed down over the years. 

Revamp your property and freshen it up!

Almost every seller loves their home. Lots of happy memories were made there and there’s a definite sentimental value and emotional attachment, which is why most sellers price their homes at much too high of a price compared to the actual market value. People can never understand why their “perfect” home sits on the market for weeks to months without so much of a glance and it baffles them. As a seller, you need to step back from your emotions and take a look at your property from an objective point of view - ask yourself, “What would I perceive if this were not my home and I am viewing it for the first time ever?” 

Take a hard detailed look at the good, the bad, the unpleasant, and figure out what kind of changes you need to incorporate to sell your home faster. Figure out what needs upkeep, what needs renovation, what would make your home go from “Oh this is nice” to “Wow I want to live here now!” Take action, because there is ALWAYS room for improvement even if you think your home is perfect the way it is already. Keep an open mind when it comes to selling because reality check - the customer is most often usually right. Listen to any specific feedbacks as these could be the turnoffs that are driving serious buyers away. 

Make your home look as it’s new, because that’s what potential buyers want to see. Buyers don’t care to throw down cash on a home that looks run down and lived in, so make sure your place looks fresh, clean and shows at the best it can be so that buyers can visualize themselves in the space. A fresh space will sell for more money and sell faster. Even an inexpensive home can be made to look more luxurious and expensive with the right upkeep, small renovations or even a fresh coat of paint and a new carpet. Stage your home as you would a luxury resort and entice the buyers to want to live there. Everyone knows that making a home look nice is a no brainer, but there’s another way to tap in to potential buyers’ subconscious mind and that is by playing with their olfactory senses. Smells are powerful and can leave a lasting memory in a person’s brain. Go one step further at your next property showing and make the home smell heavenly, either with fresh flowers, plants, freshly baked goods or any smells that are reminiscent of a warm, loving home. The little details matter and we assure you that this will leave a pleasant memory for potential buyers to remember you by.

Figure out the right price to list your property at

Coming up with the right price to sell your home is a challenging balancing act. Obviously, we all believe in the worth of our home for good reason and it’s natural to want to ask for as much as possible. We also have to be realistic because asking for too much right off the bat will turn away potential buyers, yet you don’t want to lowball yourself with a price that’s much lower than your home’s real worth. The “right” price is a tough one to figure out, but this is where working with a good real estate agent can help evaluate the market and resist the temptation to either - overprice your home - or give in to your fears and undervalue it tremendously. There are solid reasons why it’s important to have a good strategy from the start and price your home correctly from the get-go:

    • You can attract more buyers - it’s better to price your property right from the start in order to maximize the number of serious qualified buyers. You can always negotiate the price with serious buyers but if you price the value way above a certain budget, you will end up vetting out even the more serious buyers before they even get a chance to see your home. 
  • You will sell your home faster, for a higher price - In a hot market with exciting demand, a home that is fairly priced is able to receive multiple offers because people recognize that it is a good deal. Good deals can even start a bidding war that drives the final offer above your original asking price. On the other hand, if you overprice your home from the start, you will end up scaring away some buyers. Most will not even bother to make an offer if the home is way overpriced at its original asking price. If your home doesn’t sell for months, it’s a good indication that it’s not priced right. The longer a property stays on the market, the lower its final selling price will be, which is what every seller wants to avoid.
  • Buyers will have more confidence in your property - There’s always a catch with home values. If you price it too high, you will scare potential buyers off. If you price it too low, potential buyers may wonder if there’s something wrong with your property that you are not letting on. However, if you offer a fair, competitive price on your home that is comparable to similar homes in your neighbourhood, there’s a higher chance that buyers will have confidence in your home value. This is why understanding your market thoroughly is vital to the success of your deal. 


Long story short - to sell your home faster and for more, price it correctly at the start.

Dont hastily reject at any offers

The real estate industry is never a for-sure, as a matter of fact, it’s always filled with ups and downs and a bit of uncertainty. Each year’s market trends and predictions are different and can be a bit of a gamble at times. In a market of uncertainty, it may be smart for sellers to take the first reasonable offer they receive - or risk leaving the property on the market and letting it devalue. The wisest thing to do is evaluate each offer carefully and don’t jump the gun. In a buyer’s market, the seller cannot dictate the terms as much, therefore its crucial that sellers tread carefully when making such big decisions. 

If and when in doubt, our professional team of real estate experts at Engel & Volkers are happy to chat with you and help you sell and buy properties. Feel free to contact us to help advise on any real estate questions that you may have.  

iously ways you can sell a home faster, one of which is by lowering the price but nobody wants to do that if there are other options available. Price point aside, there are plenty of creative and strategic ways you can do do enhance a home’s attractiveness and consumer appeal besides lowering the asking price. The real estate trends this year are telling us that the year 2017 is the year to sell. If you are considering and taking action to start the selling process, the good news is that you are already ahead of the curve. In the real estate industry as many of you know, timing and location is everything! Location can make or break a deal for legitimate reasons that we have discussed in our previous blog articles. Do refer back to our previous posts for more insider information about the real estate market especially pertaining to Hong Kong and the Asia region. Timing alone can be the deciding factor on how fast you are able to get your property off the market and money in your pocket, and in a city like Hong kong, navigating the real estate industry is literally like swimming in an ocean infested with sharks who haven’t eaten in weeks. The market is tough, which means your strategies to sell a home needs to be constantly updated, evolving and staying at the top of its game, otherwise your listing will become a distant memory in many potential buyers’ eyes. 

If this is not your first rodeo, you know the drill. There’s a lot that’s involved when it comes to selling a property intelligently. It’s one thing to attempt to sell, but a whole other story to successfully sell at a price that’s a good deal for your standards. For starters, if you don’t already having a trusted real estate agent, it’s time to get on the hunt for one because this person will be your go-to expert to help you with anything real estate related. Not to mention, there’s also the tedious job of taking professional quality listing photos, staging your home to attract potential buyers and constantly updating the different venues of marketing strategies. Here’s a good tip to remember: in a world that is as fast-paced as it is today, everything is constantly changing. A new year can mean new marketing strategies and new selling tactics, so get ready to play your game plan right for 2017.

The real estate market is always changing with the evolution of technology. Sometimes it’s more predictable and other times it can be quite uncertain, which is why we have compiled this great list of tips for both rookies and veteran sellers to take note of to sell a property faster. Whether you are looking to sell your property in a declining real estate market or a fairly vibrant one, these tried and tested useful tips given by real estate professionals below can help you learn how to step up your game, generate buyers’ interest and unleash your home for the best deal you can get. 

Hong Kong - Sell HK home fast

Engel & Völkers

Hong Kong, Real Estate Agency
Shop A, Ground Floor, 95 Caine Road, Mid Levels
- Hong Kong
Company License: C-035745
Phone
+852 2561 3616

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