What Is The Most Effective Way To Sell A Condo In Phuket?

[michaelman]

What is the most effective way to sell a condo in Phuket? I know, it may take some time, there is supply of units and lot to choose from for those who want to buy.

What I have is studio, 45 sqm, top floor, unubstructed view of Karon beach, facing west, 10 minutes walk to the beach.

How much should I ask to sell it fast? And what is the best way to advertise? I know a local agent. I can also try local agencies. Anything else to consider?

Thanks.

[SeaVisionBurma]

Unhelpful troll post removed

[hansgruber]

That's a tough one.

The over supply of these type of condos make it hard.

I'd say just go back to the sales office and offer the sales staff that sold you the place a commission to sell yours before a new one.

Is it the sea and sky condo or Karon Hill?

If its the Eden, that will be harder.

PM me the development and the price you're asking. I'm not an agent but when you said fast it peaked my interest.

Edited April 29, 2013 by hansgruber

[steelepulse]

Online try the usual places for ads, thaivisa classifieds, bahtsold, phuketgazette etc. Also get in touch with Russian agents and make sure you get your ad in all the Russian publications ( in Cyrillic of course) as they are doing a lot of the buying these days according to my Russian friends.

[up2me4now]

A friend of mine in handed some printed quality coloured flyers out in patong and beach areas during the day and night for a week and got a lot of response and offers, but to this day he hasn't closed the deal because he thinks someone will eventually pay the asking price of 4.5 mill.

I have helped show people round his condo so I know it worked, maybe he's thinking outside the box, worth a try.

[hagler]

A great many sellers tend to equate lots of people looking at their property as a sign that the price they are asking is fair and reasonable. Sadly this is the not the case especially in a holiday enviroment like Phuket. It is not about the quantity of potentials its about the quality. There are only 6 demographics in the Property Market. Work out which of the 6 your property appeals to and market to them accordingly.

If a property has not sold in a 8-10 week time frame then it is either A. overpriced or B. not being marketed correctly. A is the case 95% of the time.

And as a way of justifying the above statements I have owned an Agency for over 20 years now in Australia, have a staff of 12 sales people and last financial year (a pretty grim one in our market) we turned over around 460 properties worth approx $6.9 million AUD in commissions.

[KarenBravo]

I agree with hagler.

I have sold three properties in total here in Phuket and they all sold within 14 days.

The best strategy that has worked for me is to offer what you're selling at a fair price, then refuse to lower it.

I found out what comparable properties close by were selling at and then under-cut them by a substantial amount.

Too many people put a silly price on their property and hope a mug comes along and pays it. This rarely happens and the seller is forced to lower their price.

If the potential buyer knows that you have lowered the price once, they will want you to lower it again as they feel that the seller is negotiating from a position of weakness. If the price is not lowered again, they usually walk away.

It's important that the buyer feels he's getting a bargain.

Far better to give a fair price and stick to it. It's always worked for me.

Edited May 3, 2013 by KarenBravo

[NamKangMan]

Maybe you could throw in some free cosmetic surgey for the buyer. :) :)

[NamKangMan]

A friend of mine in handed some printed quality coloured flyers out in patong and beach areas during the day and night for a week and got a lot of response and offers, but to this day he hasn't closed the deal because he thinks someone will eventually pay the asking price of 4.5 mill.

I have helped show people round his condo so I know it worked, maybe he's thinking outside the box, worth a try.

A little off topic, but I saw a guy doing something similar. He was sticking his flyers up in bars and handing them out. He was the "owner" - not an agent.

I was wondering if you needed a work permit for such activity.

[michaelman]

Thanks for your help everyone. Appreciate your advice.

[The Learner]

I agree with hagler.

I have sold three properties in total here in Phuket and they all sold within 14 days.

The best strategy that has worked for me is to offer what you're selling at a fair price, then refuse to lower it.

I found out what comparable properties close by were selling at and then under-cut them by a substantial amount.

Too many people put a silly price on their property and hope a mug comes along and pays it. This rarely happens and the seller is forced to lower their price.

If the potential buyer knows that you have lowered the price once, they will want you to lower it again as they feel that the seller is negotiating from a position of weakness. If the price is not lowered again, they usually walk away.

It's important that the buyer feels he's getting a bargain.

Far better to give a fair price and stick to it. It's always worked for me.

This, definatly.

So people know from the outset, this is the price.

By advertising it at your realistic selling price, with your expected "haggle deduction factor" already built in, then you are going to draw in wider possible buyers

Is the property really worth 4,500000 Bt? or is that really what you would want for it, just you know.

So I feel in the market of today, with so much available, you have to make your property just that bit more financially attractive.

TL