Despite the fact that we’re in the middle of a pandemic, housing demand has nevertheless held steady. Although most of us have been stuck at home, the thought of owning or investing in real estate remains high. This is no doubt bolstered by the various stimulus plans and exemptions currently in play.
First-time homeowners will get to enjoy full stamp duty exemptions on property priced up to RM500,000 until 31 December 2025. The current Real Property Gains Tax exemption valid until 31 December 2021 is also enticing for owners who want to dispose of their real estate. And then there’s also the overnight policy rate of 1.75% for home loans, which translates to a lower interest rate and monthly repayment.
All of this coupled with an oversupply of properties in certain areas has resulted in a softening property market with favourable prices. As such, there are many out there that are keen on the prospect of snapping up a home within this unprecedented time.
But if you’re a property owner looking to dispose of a property, selling a property amid the ongoing Movement Control Order can be a tall order. With physical viewing not possible for the time being, the online marketplace has provided a much-needed lifeline for the real estate industry.
Online Shopping for Real Estate
According to recent findings from a recent survey by consumer insights firm, InsightzClub, a total of 41% of respondents were looking towards property investments. A total of 69% indicated that they were more reliant on online platforms compared to offline ones in the survey involving over 600 participants aged 21 years and above.
Based on respondents insights, Mudah.my emerged as the top choice for both property buying and selling. This is of course inline with the platform having over 8,000 listings for new properties below RM500,000 across the country, effectively making it Malaysia’s largest marketplace. So there is a market demand, and also a readily available and effective platform. How do you go about selling your property? Well, it all starts with posting a quality advert.
Clear, Concise Copy (and don’t forget the details)
In one of Mudah Property’s Agents webinars, insights were shared on what makes an effective advert to draw interest in your property. For starters, it is important to list the important details of the property in a concise and clear manner. Location, amenities, facilities, size, number of rooms etc. and other pertinent details to that piece of real estate that makes it stand out from the rest.
Identity those attributes and highlight them in your property description and if possible, showcase the floor plans as well in order to give the buyer an idea on what the property will look like. This will also help stimulate their imagination in case they want to configure or renovate the space according to their liking.
Remember Who You Are Selling To
Put yourself in the shoes of a potential buyer. Think of how your piece of property would appeal towards them and then work your advert (or pitch) towards this segment. A condominium with resort lifestyle facilities such as a pool, gym, tennis courts, good security etc should prove enticing for expats and young professionals as well as young families. So make sure you ‘sell’ those attributes. Also, if you’ve lived there for a while, describe a brief living experience within the property itself.
Plus points such as being nearby to public transportation such as an LRT should also be in your copy as it will prove enticing especially to those looking to capitalise on their daily commute. The thing to remember is if your property has a number of unique advantages, then do highlight them as best you can. To coin a term, ‘if you got it, flaunt it’ and this also applies to real estate.
Pictures Paint a Thousand Words
This cannot be stressed enough. Nothing stimulates an imagination more than photos. So when listing your property, pay the most attention to the photos you’re accompanying the listing with. You don’t have to go out and engage a professional photographer (although it will surely help) but taking proper photos even with your smartphone can elevate the listing of your home somewhat.
An easy tip to remember is to always use natural lighting, so taking a photo in the daytime like in the morning of a sunny day will surely amp up the space. An evening and gloomy shot will not do you any favours. Also, tidy up the place, make sure it’s clean and pleasant and ensure you get the good angles to show off the unit, its space, and its best features such as the view, big bathroom etc.
With a lot of us stuck at home, it’s often left up to a listings’ words and photos to stimulate the imagination. Take it a step further by utilising video and live-streaming technologies to further fuel interest in property. Having a walk through video ready and available, which can be sent via by a Messenger App such as WhatsApp, will provide potential buyers a better look at the property.
Organising a live viewing via Zoom or through a video call also shows initiative whilst providing the buyer with a better look at the property. These extra efforts will also help showcase the property to a more interested audience, ensuring that your property will be able to find potential buyers, even in the midst of the pandemic.
For more insights and tips on selling your property check out Mudah Property Agents on Facebook.