Buying and selling property is common in property business. Lots of people believe that the cycle of property market is the key for successful transaction in property business. However, it is not entirely true because in reality, there are other factors that hold important factor for successful transaction. Property market plays important role in property business and investment. However, it is not the only thing that matters the most. In fact, the right strategy can overdo any kind of property market’s cycle. In property transaction, there’s seller and buyers. Both have their own purpose in doing transaction. However, both have similar goal, which is to get the best deal.
Successful transaction in property business
Investing in property is promising yet challenging at the same time. There’s complex stages and phases you need to go through before reaching your success. It may take years before you can pay your mortgage fully or earn your well-deserved profit. Patience is key but the right strategies can lead you to success closer. Here are some tips both for seller and buyers in making successful property transaction:
For seller
Selling a property investment is not easy because there’s various factors you should take into consideration. You can search for property by yourself. However, it may take a lot of time. Thus, it highly advised to hire professional agent who knows very well the local property market. You should also choose agent who is great at negotiation. Do not choose agent because of cheap price because you may only receive half-hearted service.
The next thing to do is setting the right price. To decide the right price, you need to calculate based property market flow and other important factors. If you set the price too high, it will be harder to find potential buyers. However, setting it too low will put your financial plan at risk of losing too much. Choose the right strategies to sell your property. You can put it on the listing or at auction. Discuss this with your agent will be very helpful.
For buyers
It is highly advice to not rely on cheap price when buying a property. Instead, look for investment grade property. There’s various due diligence you need to do before finding the right property to buy. Researching market is one of them. You also need to plan your portfolio to acquire the right investment property. If the price that the seller set is too high for you or out of your budget, do not waste your time by waiting for them to lower the price. Instead, it’d be better if you move on and find another one.
Do not let the word ‘perfect’ deceive you because if you keep waiting for perfect property you won’t ever find it. Delaying reaction in a dynamic market may lead you to miss out promising opportunity for a great deal. Thus, plan your strategy to find the right property in the right location at the right price. Another important thing to remember is do not let your emotion or personal attachment cloud your judgment.
Edra Maulana