Selling your property is one of the biggest challenges in the Real Estate industry in India. The problem currently is more acute in NCR i.e. Noida, Gurgaon, Delhi as its huge oversupply in this part of the country. Though the situation is not that great in West and South as well.
The property market in the last 4-5 years has not been that great. The price appreciation is not happening and the investors have almost fled the market. It’s only the end user who is currently purchasing their property.
The under-construction market is not doing that well as the confidence level with builders is very low. The consumers are not very sure if the builders can actually complete the project. So they prefer to wait till the time the project is complete so that they can buy and directly move in the apartment.
The current market has very adversely affected the selling environment of real estate in India. But still, you have to try your level best to sell the property. Though the biggest problem which one faces is fixing the right price of their property. If you price it higher then you will not get enough inquiry, and if you price it lower then you are incurring a notional loss on the property. You can take the help of www.fairpockets.com which can help you in doing a free valuation of your property and recommend you the right price to sell
There are only 3 ways by which you can sell your property:
1. Reference: The first step for selling your property is through reference. You can try to find out anyone in your friend’s circle, whats APP group, company colleagues etc. is interested in buying the property. That would be the ideal situation as your transaction cost will be nil plus the added advantage of trust would be there as you are selling to someone known or through reference.
2. Advertising: The second step to sell the property is through advertising. You can advertise either in the print which is a newspaper, or magazine. These days though the most effective medium is online advertising. There are a lot of property sites or classified portals where you can advertise and get the leads for your property.
The advantage is that you can get serious buyers through these websites, but the issue could be that lot of junk or spam can also reach out to you and waste your time.
www.fairpockets.com will not only help you in doing the free valuation of your property but will also help in generating leads for your property to sell fast.
3. Broker Network: The third step is to use the broker network in that locality. You can reach to the existing broker network in that locality and hope that they will be able to sell your property.
The only issue here is that the brokers keep getting a lot of property and you have to constantly remind them. Also, they will charge at least 1% brokerage to complete the transaction.
So, the suggestion from fairpockets.com is that try all the options in a sequential manner and be aggressive as far as selling your property is concerned. Selling fast will provide you with the opportunity to rotate your funds and maximize returns.