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OH NGIN HONG

Senior Marketing Director
CEA Reg: No. R023962G

ERA Realty Network Pte Ltd

Agency Licence: L3002382K

Use the "Show & Sell" Checklist to get specific ideas on how to make your house look its best. Additionally, ask me for brochures on the subject. Such materials are usually free and extremely helpful to most homeowners.

SHOULD I MAKE ANY MAJOR HOME IMPROVEMENTS?

Certain home improvements that are useful to almost everyone have been proven to add value and/or speed up the sale of houses. These include adding a new air conditioner, some kitchen remodeling and new floor and/or wall coverings, especially in bathrooms.

The challenge that comes with any home improvement designed to help sell your house is recouping your investment. There’s always the risk of over-improving your house ~ that is, putting more money into it than neighbourhood prices will support.

SO HOW MUCH IS TOO MUCH?

Generally, it has been observed that no matter how much you improve your house, you’re unlikely to sell it for more than 15% above the average price of other houses in the neighbourhood. That’s why you might want to ask your real estate salesperson's opinion about the viability of recouping the cost of any major renovation you have in mind before you start the work.

AM I LIABLE FOR REPAIRS AFTER I SELL?

In certain situations. If the buyer’s inspection reveals major problems with your house’s structure or mechanical systems (air conditioning, electrical, plumbing, etc.), the buyer may wish to negotiate the price downwards on the basis of anticipated repair costs. So even though the repairs won’t be made until after the sale, practically speaking, you’ll be paying for them.

Sometimes, repairs may be required before the transfer of the title takes place. You may have heard about lawsuits involving sellers who failed to disclose major problems before the sale ~ like an addition to the house that was built without approval from the relevant authorities. Therefore it's a good idea to get the buyer’s written acknowledgement of any major problems when you accept their offer.

HOW DO I REACH THE RIGHT POTENTIAL BUYERS?

There was a time when selling a house was simple. Your real estate salesperson would place an advertisement in the newspaper and wait. Of course, real estate salespersons still do those things ~ but that’s far from all they do. Today, people are moving more frequently than they used to; it’s not unusual for upwardly mobile executives to relocate overseas. The result is that the pool of potential buyers for your house is much larger and spread far wider than ever before and the competition to reach them are fierce.

We, ERA, Realty Network Pte Ltd has responded by developing increasingly sophisticated marketing techniques that define likely buyers, where to find them, how to reach them, and how to persuade them to buy one house over another.

The fact is, virtually everything we’ve discussed up to this point, from pricing to home improvements, the Comparative Market Analysis to the placing of advertisements, is part of a marketing process that’s put into motion when you decide to work with ERA.

HOW IMPORTANT IS ADVERTISING?

Advertising remains one of the most important components of the marketing process. But again, it’s not as simple as it seems to be. To be effective, do not limit yourself to a three or four-line Classified ad you would probably run if you were selling the house yourself.

How does the inclusion of other houses benefit yours? The power of numbers, plain and simple. Fewer than 5% of buyers actually purchase the first house they call about. When they call to respond to an ad, they’re likely to be shown a number of houses similar to the one they initially express an interest in seeing.