There are tens of thousands of articles on buying overseas property, but very few that offer any advice to sell your overseas property. So if you have a property abroad that you would like to sell, where do you turn to for quality information? That’s the gap we have sought to plug with this blog.
Most international property markets are small, unregulated and inefficient, so it is very difficult to set a good price for your property and to get a great offer for it. But it is certainly not impossible, provided you take a few positive steps.
Here are a few tips to help you get started…
#1: Target wealthy buyers from emerging economies
Your best chance of getting a great offer for your property abroad is to sell to wealthy, cash rich buyers from emerging economies such as Russia, China, Malaysia, Singapore, Ukraine, etc., who would be willing offer an all-cash bid for it. This should be your priority and this means hiring an overseas property specialist who excels at selling overseas homes to such wealthy individuals.
#2: Find a compelling angle to sell the property
Here’s the problem with selling an overseas home – houses are nothing but a commodity. A wealthy Chinese or Russian buyer would probably have a much bigger and better house or apartment in their home country than your property abroad. So why would they want to buy your overseas home? It’s the lifestyle, the prestige associated with buying an overseas property in Europe or in other exotic locations such as Thailand or Barbados. So, when selling property abroad, sell the lifestyle – that is the hook you need. You want to focus on what makes the property different, something that would inspire your buyer into action.
#3: Go crazy with the presentation
The presentation of the property makes all the difference. Here’s what you should understand, your buyers want to reinvent themselves in a country different from their own, and are in the mood for some adventure. So go crazy with the way you present the property, anything different from the usual would do. Get pictures of the property taken by an expert photographer, someone who knows what he is doing. For example, if you are selling a beach property, throw in a surfboard as an extra during the purchase. You want to show your buyer what life would be like when they buy your property.
#4: List the property everywhere
Online marketing is the key to selling the property as quickly as possible and this means listing it on multiple property portals, especially on those that are frequented by rich Russian, Chinese or Middle Eastern buyers. Use social media marketing as much as possible – Facebook Ads are a really great marketing tool. Don’t be afraid to invest in pay-per-click advertising.
#5: Make Sure the Documents are in Order
Are you certain you have all the paperwork related to the sale of the property with you? You cannot afford to miss out on something important such as the property tax receipt during the negotiations with the buyer. Hire a local lawyer to help you out with the paperwork if you’re not sure.
Contact the experts today if you want fast and free advice on selling your international property.