Most people who sell a property, whether it is their home, a business property or an investment property, want to maximize the amount they make on the sale. There are some key ways to earn more when selling a piece of property.Get the property ready to sellWhether you are selling a residential or commercial property, you will attract the best offers by having a property that’s in good condition and is ready for a new owner. To get you property into such a condition, you need to thoroughly clean it and make necessary fixes, such as replacing broken window panes, touching up paint and filling in cracks. If you are selling a home, staging it properly by decluttering and removing personal items and knick-knacks helps to make it move-in ready.Be flexible about showingsWhen you are trying to attract top dollar for your property, you need to be as flexible as you can to cater to every buyer that comes along. If you only have certain days and times you are willing to show the property, you are going to attract fewer potential buyers and are less likely to get top dollar in your offers. Be willing to show your property whenever asked within reason. Keep it clean all the time, and make arrangements for pets to be somewhere else when you are at work so an agent can show your home on short notice.Price your home correctlyMany people think the key to earning more from a property sale is to simply set a high price and then negotiate down as needed. While that strategy may occasionally work, more often than not what happens is the high price scares off potential buyers and the property doesn’t even get shown. A better strategy is to price the house right around what it is worth or even a little lower. This creates more interest in the house and may generate more bids. Once people start bidding against each other, psychology can take over, as their will not to lose causes them to keep bidding even after the price has gone well above the original asking price.While following these suggestions will help you maximize price when you sell property, there are other intangibles involved. Market conditions play a big role, for example. It’s much easier to sell your house for top dollar when the market is booming and interest rates are low.
A successful conclusion of the sale of your FSBO listing will be much more likely if you are one of those people who has mastered the fine art of negotiation. This is not normal in the American culture, since most people in this country can communicate with friends, family and co-workers, but are not skilled in the same way that foreigners are. Mastering the skills needed to successfully conclude a property sale should be practiced so that they become automatic.A key factor in doing a successful negotiation is attitude. Remember that courtesy and respect toward the customer will probably result in the same attitude toward you. The potential buyer should never be viewed as an enemy that must be argued into submission. Communication works both ways and is a critical part of the negotiation process. One of the ways in which you must protect yourself, though, is to make sure that you do not spend a lot of time negotiating with someone who doesn’t have the financial resources to meet your asking price. Remember, too, that a buyer may have their own viewpoint about your choice of carpet color. Don’t allow yourself to be insulted or become angry at such comments. Color choices are rarely a good bargaining chip for a buyer to use to attempt to reduce the asking price.Arriving at a price agreeable to both buyer and seller is the crux of the negotiation process. The buyer may offer a price that is lower than the asking price with the knowledge that a similar house in the same neighborhood sold for a lower price. The home owner may point out that the FSBO property under discussion has a brand new roof and has had an automatic sprinkler system installed to make lawn and garden care simpler. In either case, negotiations between the buyer and seller can continue with offers and counter offers until both parties are satisfied. The ability to determine the basis of the other parties terms is the key to good negotiation techniques. Certainly, there is value to each in identifying the non negotiable factors for both the buyer and the seller. Good negotiating means understanding and allowing for those things that are must haves on each side.FSBO negotiations on the issue of a price reduction when there is a significant repair in question can be tricky. For example, if a buyer reduces the price offered by an amount equal to the cost of a new roof, but the seller believes that the roof is in good condition, good negotiation techniques might have the seller offer to reduce the price by a certain amount if the buyer pays for an outside inspection of the area in question and it is found to be less than satisfactory. Communication between buyer and seller during the negotiation process will allow such issues to be addressed in a courteous manner and agreement can usually be reached between the two parties.Finally, the successful negotiator for FSBO property will recognize the importance of flexibility in the amount of the asking price and the terms of sale. If you receive an offer from a qualified buyer for $2000 less than your asking price, you should consider whether you are prepared to hold out for a higher offer which may or may not occur. Even if the higher bid is received, it may take weeks or even months of marketing the property. Only the individual circumstances can tell the seller which is the necessary course of action.
To a lover of this emirate, the present happenings in the Dubai stock market and construction and housing sectors could only be described as horrific. Though the doomsayers would always maintain an ‘I told you so’ attitude, the truth is that the market is showing a response to two factors. One is the long term negative trend that has crept in since Dubai’s economy has been affected by the recessionary trend that has enveloped most nations of the world in the wake of the financial crisis in the USA’s housing and banking sectors.The second, shorter term fiasco has resulted in a negative stance emanating from the news that the Dubai Government was unwilling to bailout Dubai World from meeting its debt obligations. Most Western nations feared the worst, translating it to mean that the emirate of Dubai was itself in danger of bankruptcy, since it had quite likely overextended itself in its quest to be a major tourist attraction. When you have everything from the world’s tallest building to the world’s most expensive hotel, the world’s only ice skating rink built to withstand a desert climate, and scores of palatial buildings, villas and marina apartments that make one wonder how much money has been sunk into these projects, it is inevitable that people think you have exhausted your resources, no matter how deep your pockets.But few in the world know that Dubai is among the world’s top reserve holders of foreign exchange, and this can enable it to withstand any crisis. In addition, Dubai World itself has the capacity to make good its debt repayments in case of emergency by selling off part of its assets in properties and companies all over the world. Now Abu Dhabi has finally come forward and pledged US$10 billion to help Dubai World pay off its debts. The news has energized the stock market once again, and the property sector is expected to follow suit.So is this a good time to capitalize on Dubai’s property market and Buy Property in Dubai or Buy Villas in Dubai? In short, is it opportune to Buy Dubai Property of any kind? Some analysts would say yes, others would say hold on because a further drop is expected. Still others would state that it depends on your holding power and the place in which you have invested or plan to invest your money. For example, villas and marina apartments are still seeing rising prices and a lot of activity in the property sector. The outlook for hotels and city apartments meanwhile is a bit muted, as the recent unemployment has led to an oversupply of available rental units and reduced rents in favor of the tenant. In fact many people have moved from previously crowded living quarters in unhygienic conditions on the outskirts of Dubai to more comfortable living areas within the emirate. Meanwhile salaries have been slashed too in some sectors owing to reduced business.There are some analysts that still maintain that we have not seen the worst of it yet. They point out that a lot of developmental projects are slated to be completed by end 2010. If we factor this in, the oversupply of apartments will be almost 33 percent compared to the 10 to 16 percent that we see now. That, say analysts, would be an exciting time to capitalize on the property sector. Others plan to wait till mid-summer 2010 since March-April is traditionally the time when the property sector has been at its lowest historically. But almost all property sector analysts are sure that a rebound will occur in 2011. We’ll just have to wait and see.