You can seal the property deal without an agent
Apr 28, 2006
THESE days, many real estate owners<br>are reluctant to sell their property through agents, especially after Patrick<br>Kasulu of Property Masters, was charged with defrauding clients. But though selling a commercial property all by yourself can prove to be one of the most stressing act, it is wel
By Titus Serunjogi
THESE days, many real estate owners
are reluctant to sell their property through agents, especially after Patrick
Kasulu of Property Masters, was charged with defrauding clients. But though selling a commercial property all by yourself can prove to be one of the most stressing act, it is well worth the bother.
By selling your property yourself, you will have saved millions of shillings that would otherwise have gone to the agent. And besides, you will have no fears of being hoodwinked by some conman posing as an agent. So, if you have the nerve to hustle and haggle, why not go ahead and sell your property yourself?
But wait a minute! Are you sure you want to sell that shop, clinic, school, go-down or warehouse? Some people try to sell their property when they run broke.
“Do not decide to sell your property out of emotions. This is a major process and you must be sure that you want to do it, if only to avoid changing your mind midway through, thus wasting your time and money just as well as the buyer’s,†says Patrick Okwiri, the properties consultant for Knight Frank.
He says one needs to sit down and make up his or her mind. You can ask yourself the following questions: Why do I want to sell? Will I afford to get another property from which to carry on my business?
Make sure you are not going to make a loss in selling the property. You should have a rough estimate of how much the whole selling process, including renovations, advertisements and lawyers will cost in order to plan your budget.
After that it is time to look at the market. If there are three or four similar properties up for sale in the neighbourhood, you might need to wait a bit before selling. Otherwise, buyers will give you a poor bargain.
Up next! Make sure the property is in good condition. “The better your house looks, the more people will consider buying it, the faster you will get it sold and the higher the price you will sell it,†says Okwiri.
So, check that all the doors and windows open easily, fix the roof, fix holes and paint any dirty and pealing off patches. In brief, make the space look sparkling new. Tidy up and get rid of the accumulated junk. After this, you can decide on the selling price. If you hire a professional valuer like Knight Frank, you will have to pay 0.23% of the selling value, for that service.
Let people know about your sale. You can put advertisements in newspapers as well as a ‘For Sale By The Owner’ billboard on the property. Meanwhile, contract a lawyer. You need one, unless you are a legal expert yourself.
When the potential buyers come for guided tours around the property, go out to meet them looking your best. Appear business-like. Be polite. People prefer to buy from someone they get on well with. So, be nice.
You can offer them something to drink and a smile! Show them around, but do not cling to them so much lest they get suspicious of you. Leave them some space and time to look around by themselves.
Remain cool and detached as they make criticisms on your property. They will ask you why you are selling, but you don’t need to tell your potential buyers if the area is not lucrative enough.
If you are a hard-nosed haggler, you will get a good deal. After consenting on the price, let your lawyer handle the rest. Your business is sealed!
THESE days, many real estate owners
are reluctant to sell their property through agents, especially after Patrick
Kasulu of Property Masters, was charged with defrauding clients. But though selling a commercial property all by yourself can prove to be one of the most stressing act, it is well worth the bother.
By selling your property yourself, you will have saved millions of shillings that would otherwise have gone to the agent. And besides, you will have no fears of being hoodwinked by some conman posing as an agent. So, if you have the nerve to hustle and haggle, why not go ahead and sell your property yourself?
But wait a minute! Are you sure you want to sell that shop, clinic, school, go-down or warehouse? Some people try to sell their property when they run broke.
“Do not decide to sell your property out of emotions. This is a major process and you must be sure that you want to do it, if only to avoid changing your mind midway through, thus wasting your time and money just as well as the buyer’s,†says Patrick Okwiri, the properties consultant for Knight Frank.
He says one needs to sit down and make up his or her mind. You can ask yourself the following questions: Why do I want to sell? Will I afford to get another property from which to carry on my business?
Make sure you are not going to make a loss in selling the property. You should have a rough estimate of how much the whole selling process, including renovations, advertisements and lawyers will cost in order to plan your budget.
After that it is time to look at the market. If there are three or four similar properties up for sale in the neighbourhood, you might need to wait a bit before selling. Otherwise, buyers will give you a poor bargain.
Up next! Make sure the property is in good condition. “The better your house looks, the more people will consider buying it, the faster you will get it sold and the higher the price you will sell it,†says Okwiri.
So, check that all the doors and windows open easily, fix the roof, fix holes and paint any dirty and pealing off patches. In brief, make the space look sparkling new. Tidy up and get rid of the accumulated junk. After this, you can decide on the selling price. If you hire a professional valuer like Knight Frank, you will have to pay 0.23% of the selling value, for that service.
Let people know about your sale. You can put advertisements in newspapers as well as a ‘For Sale By The Owner’ billboard on the property. Meanwhile, contract a lawyer. You need one, unless you are a legal expert yourself.
When the potential buyers come for guided tours around the property, go out to meet them looking your best. Appear business-like. Be polite. People prefer to buy from someone they get on well with. So, be nice.
You can offer them something to drink and a smile! Show them around, but do not cling to them so much lest they get suspicious of you. Leave them some space and time to look around by themselves.
Remain cool and detached as they make criticisms on your property. They will ask you why you are selling, but you don’t need to tell your potential buyers if the area is not lucrative enough.
If you are a hard-nosed haggler, you will get a good deal. After consenting on the price, let your lawyer handle the rest. Your business is sealed!