For Malaysia property owners who are contemplating of selling off your property, you have the choice of either selling your property on your own (FSBO) or hire a property agent. The fundamental question is that can you sell the property for the best price and without pains and hassles?
To succeed in selling a property be it a house, apartment, condominium, shop or land, you need to be competent in real estate marketing skills and knowledgeable in market conditions, financing and legal etc and acquire negotiation skills and experience in dealing with sophisticated buyers.
For Sale By Owner (FSBO)
If you want to hire yourself, there are numerous web blogs offering free FSBO tips available on the net. Below are several web blogs on FSBO that you need to implement effectively on your own to avoid time consuming, costly and frustrating failures.
ii) Sell your own house;
If you need many more tips, go to 101 Tips for Selling Your Home.
Hire a property agent
According to a survey on profile of home buyers and sellers by the National Association of Realtors (NAR) in USA, the FSBO rate for year 2006 and 2007 remains low at 12%. The survey indicates that majority of house owners in America selling on the open market are choosing to work with an agent. Read more here.
The NAR currently has a strong 1.3 million realtors (property agents commonly known in USA) providing real estate agency services in USA which has a population of more than 305 million. In comparison, according to MIEA, Malaysia, with a population of 27 million, currently has over 1,900 property agents registered with the Board of Valuers, Appraisers and Estate Agents.
Find out the reasons before you decide to sell your property by FSBO or choose to work with a local licensed property agent. The MIEA has advised property owners to hire professional and registered property agent only and avoid hiring unlicensed agent. The scale of fees of licensed property agents in Malaysia is available on MIEA’s website.
For advisory on Malaysia property investments in Kuala Lumpur and Penang, email to us at Izrin & Tan Properties Sdn. Bhd or call us at +604 6588333 (Penang Office) or +603 92839782 (Kuala Lumpur Office) and we would be pleased to assist.