10 proven tips to sell your property quickly in Thailand
Selling property can be a headache, especially when you sell in an unfamiliar market like Thailand. However, it doesn’t have to be like that. There are several fool-proof ways we have gathered from experienced agents at Thaiger Property in Thailand to help you increase your viewings and sell your property faster.
1. Have the right attitude
Thailand is a buyer’s market, not a seller’s market. There’s more supply than demand and buyers have plenty of choices when it comes to buying property. Consequently, properties that are overpriced are very hard to sell, said Bangkok-based property consultant Praveen PalSingh.
2. Be a detective and offer the right price
This is the most important point. Search around the property and see what prices per square meter other villas or condos in the building, or in that area, are selling for, said Bangkok property consultant, Anjana Arora.
You can look at online listings or use tools like interactive maps featured at Thaiger Property to find the average price per sq m in your building or in your area.
“Make a property comparison on Thaiger Property by circling other properties in the area to see what they are priced for and if your property is priced according to the market and location,” added Hua Hin sales director Stephen Van der Merwe.
3. List your property online
Sakunee Meethong from Hua Hin said it is a good idea to list your property on online property websites. These websites have a wider reach and provide more exposure than hanging a ‘For Sale’ sign in front of your house.
4. Use high-quality photos
Attractive photos attract clients. Ask yourself if you have updated and high-quality photos for your property, said Hua Hin sales director Stephen Van der Merwe. “If the property looks good online, it will attract more attention.”
5. Make your offer stand out
The best way to sell a property fast is to set the price below the market price or “make the unit stand out from other similar units for sale,” said Praveen PalSingh. This includes nicer views and better furniture and appliances, he said.
6. Highlight location
Don’t forget to highlight the location and nearby amenities, advised Chayanin Chumphukham, who specializes in the Chiang Mai market. Nearby schools, universities, parks, restaurants, hospitals, shopping malls, 7-elevens, highways, as well as famous attractions are something you should add to the description.
7. Be flexible with viewing hours
Chayanin recommends sellers to offer flexible viewing hours, which can increase viewings and the chance of selling your property. It’s a good idea to say yes to every showing request.
8. Work with experienced agents
You can sell your house faster if you work with more experienced agents. Luke Murray, a property consultant, encourages sellers to work with a real estate agent or company that knows how to market and target the right buyers. “Advice for homeowners would be to find an active agent that you trust and can work closely with. Choosing agents that work with larger companies often gives the unit more exposure,” he added.
“Speak to your Fazwaz agent about exclusive listings – we offer excellent exposure to all of our exclusive listings. This strategy has proven to be effective at increasing viewings,” added Hua Hin sales director Stephen Van der Merwe.
9. Reduce the price
Ultimately, the key factor to selling fast is the price. In markets that are very price-sensitive, only projects that are popular and are in good locations still hold their prices. The rest needs to be competitively priced, said Pattaya Sales Director John Lees-Whitehead.
“We recommend that the owner reduces the asking price, this will automatically rank higher on our website and all of our marketing channels.”
10. Be patient and honest
The Thai property market can be different from the market in your country and there is no magic trick, said Bangkok-based consultant Maxime Lienard. It is not unusual for property in Thailand to remain unsold for a year, depending on the market conditions. We don’t have any control over the market, but you can control your property; he recommended sellers to be honest with their information, post flattering photos, fix any issues before potential clients point them out, and make the property ready to buy as soon as possible.
These are 10 tips real estate experts around Thailand want to tell you, so you can attract more potential buyers and sell your property in a short space of time when you list your property for sale.
