This post is an adaptation from an article in the Daily Telegraph by Grahame Norwood (property writer, Daily Telegraph), published in May 2013 and tweaked to apply to the Hua Hin and Pranburi property by Tom Mance (Hua Hin property specialist: Hot Property Hua Hin, Red Mountain, etc), August 2013, originally posted for Hot Property and Hua Hin Property Shop, and UPDATED OCTOBER 2014 for Pranburi-Property:
Buyers looking at the Hua Hin area for a property purchase often comment that it’s a buyer’s market here. There certainly is a wide range of properties on offer in Hua Hin, Cha Am and Pranburi. This article combines the expertise of Graham Norwood and Tom Mance to learn how to get ahead of the competition when placing your property on the local market.
To quote the original article: “Outside of London, there are more homes for sale than buyers who want them… on average a property takes more than nine weeks to find a buyer, and brings in just 93 per cent of its asking price”.
Over in this part of the world, if you find a buyer for your house in as little as 9 weeks you can be considered very lucky. However, the demand is very high, and we have seen an influx of different buyers in Hua Hin over the last 24 months, the success of the big developments such as Palm Pool Villas and Hana Village are testimony to this.
As another high season rolls towards us, now is the time to get your property primed to sell. We’ve established that there is a lot of competition, so how can you give yourself an edge and make sure your property stands out?
1. Choose the right estate agent
Hua Hin is a small town with a very large number of real estate agents. Aim for those with high street offices in the main tourist areas that get a lot of walking traffic (such as Hua Hin soi 57 – Dechanauchit Road). Ask at least three agents to assess your home and show you some comparable properties that they have sold recently. Also ask around the local ex-pat community for recommendations. You are best off talking to local business owners/restaurateurs/long term ex-pats about which agents they recommend and why, than giving your listing to every agent in town.
2. Understand the value of your property and be realistic
It’s human nature to be attached to your home emotionally, but if you really want to sell, try and be objective and let the price reflect the real value. Look at what else is on the market to compare, ask your agents to show you what else they have on offer that is comparable to your property. Remember the agent will likely show their potential buyers several homes in the same price bracket, both re-sales and new builds; try and see things from the perspective of the buyer also. We’ve noticed this with the re-sale market in Hua Hin = those that are priced right, sell.
3. Make your home accessible
“Nothing is more frustrating than an agent saying ‘a viewing doesn’t suit the vendor’,” says Nicola Oddy of Stacks Property Search, a buying agency. “Be flexible about timing even if it’s inconvenient. And take the dog out for a walk while the viewing is taking place.” Well, homeowners in foreign countries are not always there all year round. If you are away, make sure there is someone that is easy to contact who has a set of keys, or leave a set with an agent. Don’t be surprised if the agents ask for last minute viewings, this is the way it sometimes happens in seasonal tourist destinations. Any good agent will qualify the buyers and if they are unlikely to want to buy your home, they will try and avoid disturbing you and wasting anybody’s time.
4. Arm your agents!
Provide your agents with as much info and documentation as possible. The more the agents can have ready for their wide array of clients the better. This includes floor plans, master plans, copies of title deeds, building permits, even local gossip and so on. It’s easier to give it all over from the start than have someone contacting you requiring this, then that, then the other.
5. Great photography and photo preparation
High-quality colour shots of your home and garden are an absolute must. Agents will visit to take their own photos, but it is also worth finding a professional photographer to take extra shots of your property to make it really stand out. Make sure your house is well prepared for photographs! It should really be looking as close to show-home condition as possible. No dirty dishes on the counter, no bottles of shampoo in the shower, no dirty clothes on the backs of chairs! Also consider the weather conditions, and taking a mix of day and evening shots. Videos walk throughs are also becoming a popular marketing tool and are likely to be the future!
6. Confirm your own ownership
Property ownership in Thailand can be complicated and rules can change regularly. Make sure that you understand your ownership and how it can be transferred and also what costs are likely to be incurred in doing so. It may sound obvious, but you’d be surprised how many people try and sell their properties and it later turns out, they don’t have their documents in order. Confirm with your solicitor and let them know you are putting the property on the market.
7. Get your house shipshape
Not only for aesthetics, complete any outstanding DIY jobs, and ensure the paintwork is perfect before the home is viewed. “Maintenance is high on a buyer’s agenda,” says Hugo Thistlethwayte of Prime Purchase. “Buyers take comfort in seeing a house that is ready to move into.” In Thailand we like to live outside, make sure the garden is neat and tidy, the pool is clear and clean, and any outdoor living areas are as appealing and comfortable looking as possible. If there are any jobs that you cannot take care of, inform the agent prior to viewings so that they can inform the prospects and they will be prepared, also provide your solution to the problem and a timescale.
8. Organise yourself
Sales can fall through, so don’t give your buyer any more time than necessary. Check your agent has arranged for a conveyancing solicitor to act for them, so a deal moves as quickly as possible. Make sure your plans are arranged and you are ready to move out at the right time. “Delays allow buyers to get cold feet or spot more properties. Don’t give them an excuse to back out,” says Jason Wills, who runs his own London buying agency.
9. Be flexible
Agree to move at the date that suits your buyer, even if you rent temporarily before making your next big move. Agents should be eager to assist in this and any short-term hassles will be worth it to clinch a deal in a difficult and competitive market. If your property has been on the market a long time, consider any offers and deals that come up very carefully.
10. Make the viewings a comfortable and welcoming experience
Make the property bright and open. Open curtains and windows for breeze or switch on the air conditioning if it’s a hot day. Consider turning on water features if you have any. If you are present at the viewing, offer drinks and have a chit-chat with the buyers, without being pushy of course. Offer tips and info on the neighbourhood, show you know your own home and let them know you have a genuine reason for sale.
I sincerely hope this info helps, please give us a Facebook LIKE/SHARE if you like it, and if you are trying to sell a property in or around Hua Hin, remember you can list it free by contacting firstname.lastname@example.org
This is adapted from an article featuring in the Daily Telegraph online – http://www.telegraph.co.uk/property/buyingsellingandmoving/9379319/How-to-sell-your-house.html