Hello, Jason Morris here – your friendly neighborhood realtor.
Do you plan to sell your house? If so, then why not go about it yourself? If you sell your house on your own, you can actually save a ton of money since you won’t have to pay for commissions. I know… you might feel weird hearing this from a realtor. But the truth is that this will leave you with more money to spend on other important things.
The following is my advice that I give to my clients after all these years as a real estate agent. If you need help at reaching this goal of yours on your own, then here are several steps for you to follow:
- Step 1: Clean up your house.
If you have already decided that selling your house is the move for you, then the first thing that you have to do is clean your house very thoroughly and ensure that it looks spic and span. If your house is clean when the inspectors come, you can be sure that you will get a better price for it during the assessment. If you are too busy to clean it, then just hire some professional cleaners to do the job for you – easy peasy! There are many cleaners in downtown Kuala Lumpur who will do this for you – for pennies on the dollar (or Ringgit!).
- Step 2: Get your house assessed.
Once your house is ready for an assessment, get an expert to come over and assess it. A lot of homeowners don’t seem to understand that they won’t be setting their own home’s value; the value will be up to the experts who assess it. Malaysian property has gone up in value for the past two years (since 2011), and your terrace home in Petaling Jaya might well have appreciated to over a million Ringgit – no joke. I have successfully transacted a couple of million Ringgit properties in 2012 in these areas: Mont Kiara, Bangsar, Taman SEA and Seputeh. Get in touch with me if you need help in this area!
- Step 3: Follow the expert’s recommendations.
If the expert recommends you to do something after the assessment, make sure you do what they say, so that buyers will be convinced to buy your house for the price that you want for it in the end. Again, if you need a property valuation expert in Malaysia then let me know. On the Internet, the government portal is always useful (click here), or read this article (it’s quite dated – written back in 2011 – but still useful).
- Step 4: Find out your home’s strengths.
It would be vital to find out the strengths of your home and of the entire location of your home, in general. Ideally, you should take note of your home’s strengths, so that you can eventually tell your potential buyers about them while pitching your house to them in the future. For example, condominiums in the Kuala Lumpur City Center (KLCC) are known to be inhabited by Kuala Lumpur’s elite. Also, Mont Kiara has got a sizable expatriate community. Puchong is famous for its hunky Bangladeshis parading after work. What’s your locale’s differentiating factor? If you need some more information or data about the property that you want to sell, check out PropertyReviews.my – it has got a database of Malaysia properties and a brief “dossier” of pros and cons of each property which is pretty handy. It is the real estate broker’s best friend!
- Step 5: Market your home.
There are a lot of ways in which you can market your home. A lot of people just opt to place a “For Sale” sign in front of their houses, but you can also look into online advertising if you want to. There are lots of online advertising venues which you can look at. In the US, I usually advertise on Zillow and Trulia. When I was seconded to Milton Keynes, UK back in 2009, I advertised heavily in RightMove. Malaysia online portals are kinda sucky, unfortunately. They are ugly to look at and are filled with advertisements.
- Step 6: Look for potential buyers.
Aside from marketing your house online and offline, you might want to ask your friends, family and colleagues if they know anybody who might be interested in the house. This might just speed up the process a little bit. Also, use Facebook, and if you are Malaysian or a Filipino, then use Friendster.
- Step 7: Be there.
When somebody shows an interest in your house, it would be vital for you to actually be there when they want to see it or at least have somebody else be there in your stead. Again, a good real estate agent (like yours truly, hint hint) would be helpful.
- Step 8: Prepare for negotiations.
Before you try to sell your house, you will also have to have a price range ready and be willing to bend it a little bit if you want to sell your house as quickly as possible. On that note, you should also try to get a buyer to grab your house right away once you find one who is genuinely interested in it.
Hope that helps! If you need assistance, remember that I am only a phone call away!
-Jason Morris, ReMAX Agent