Three se­crets to get­ting the best deal while sell­ing your house

BUY­ING POWER As it is still very much a buyer’s mar­ket, take a cue from strate­gies de­vel­op­ers use to get a good price

HT Estates - - FRONT PAGE - Kishor Pate feed­back@hin­dus­tan­ Kishor Pate is chair­man and man­ag­ing di­rec­tor, Amit En­ter­prises Hous­ing.

Sooner or later, you will find that your “starter home” no longer meets your family’s grow­ing needs for space, com­forts and con­ve­niences and that the time to up­grade has ar­rived. At that point, your first con­cern will usu­ally not be find­ing the new home but sell­ing your ex­ist­ing home for the best pos­si­ble price. Af­ter all, it is the pro­ceeds from this sale that will fuel your next home pur­chase.

This brings up the very sen­si­tive topic of right pric­ing. In most large cities of In­dia, what we cur­rently have is still very much a buyer’s mar­ket. In other words, buy­ers have a size­able de­gree of con­trol and are also spoiled for choice—es­pe­cially on the re­sale mar­ket, which has taken a big hit be­cause of the govern­ment’s de­mon­eti­sa­tion move.

You will need to ad­dress the is­sues of:

1. At­tach­ing a good sell­ing price to your home.

2. Po­si­tion­ing the prop­erty favourably on the re­sale mar­ket.

3. Nav­i­gat­ing away from non­se­ri­ous in­quiries and fo­cus­ing on the se­ri­ous ones.

This is where you can take some clues from top-rank­ing, re­puted de­vel­op­ers, who­haveno rea­son to shy away from the topic of price, for three rea­sons. The first rea­son is that they know they are sell­ing a qual­ity prod­uct and that a qual­ity prod­uct must be priced ac­cord­ingly. Sec­ondly, they know how to bring out this value while dis­cussing with in­ter­ested cus­tomers. Thirdly, they know their mar­ket and will not price them­selves out of it.

One-off de­vel­op­ers with no real brand value, ex­pe­ri­ence, ex­per­tise and es­tab­lished track record usu­ally en­joy few or none of the ad­van­tages that re­puted play­ers have while sell­ing their prop­er­ties. This is why they will quote un­nat­u­rally low prices in a buyer’s mar­ket and are will­ing to ne­go­ti­ate even fur­ther.

Whether the prop­erty you are hop­ing to sell is of high qual­ity or not, you can still learn from the sales strate­gies that top de­vel­op­ers use in or­der to sell your home at the best pos­si­ble price in the pre­vail­ing mar­ket con­di­tions.


As a seller on the re­sale prop­erty mar­ket, you do not have much scope for “ex­per­i­men­tal” pric­ing. If you price your prop­erty too high, you will not get any in­quiries. If you have placed a high price on it but choose not to re­veal it in an on­line list­ing or via a bro­ker, you may get some in­quiries but they will not ma­te­ri­alise into a sale once you dis­cuss price. In other words, find out what the pre­vail­ing mar­ket rates are, price your prop­erty ac­cord­ingly and do not hes­i­tate to an­nounce it.


You may have bought your starter home­forcer­tain rea­sons, at­trac­tive price prob­a­bly be­ing among the lead­ing rea­sons. If you have oc­cu­pied it for a pe­riod of at least 2-3 years, even with good main­te­nance and up­keep, the in­her­ent prop­erty value may have de­pre­ci­ated to some ex­tent due to the age of the build­ing. How­ever, the lo­ca­tion will have be­come more valu­able be­cause of a num­ber of rea­sons not im­me­di­ately ap­par­ent to you:

1. Thear­rival of bet­ter gro­cery shops, phar­ma­cies, etc.

2. Road de­vel­op­ment and bet­ter public trans­port fa­cil­i­ties im­prov­ing com­mutabil­ity.

3. A mall with a cine­plex or a cou­ple of good hos­pi­tals opened up close to or within a few kilo­me­tres of your prop­erty.

If you look at the mar­ket­ing brochure of a top de­vel­oper, the lo­ca­tion ad­van­tages of the project will be among the first things you see. In other words, po­si­tion your prop­erty in ac­cor­dance with the new ex­ist­ing lo­ca­tion ad­van­tages.


Top de­vel­op­ers go to great lengths to train their mar­ket­ing per­son­nel in the fine art of dis­tin­guish­ing be­tween se­ri­ous and non- se­ri­ous in­quiries. You should be able to dis­cern the dif­fer­ence too.

An end­less pa­rade of peo­ple in­spect­ing every nook and cranny of your family’s per­sonal space is not a happy thought. While re­puted de­vel­op­ers will ob­vi­ously not see the in­spec­tion of new, empty flats as a per­sonal in­tru­sion, hav­ing to deal with too many friv­o­lous vis­i­tors is still a waste of their time.

To elim­i­nate at least some window shop­pers, ask for an ini­tial dis­cus­sion over the phone and be up-front about the fi­nan­cial terms. Also, ask the caller ex­actly what they are look­ing for, and eval­u­ate whether they will find it in your prop­erty.

Ob­vi­ously, if they are firm on want­ing a club­house and swim­ming pool and your project does not have such fea­tures, the in­quiry will not trans­late into a sale and is not worth an in­spec­tion visit. The same prin­ci­ple holds true if they are hop­ing to ne­go­ti­ate ex­ten­sively and you are more or less con­fi­dent and firm on your ask­ing price.

Fi­nally, be ready to have your prop­erty up­on­there­sale mar­ket for at least 3-4 months with a stated price tag be­fore con­sid­er­ing a down­ward re­vi­sion of your price.

Avoid post­ing your prop­erty on mul­ti­ple sites, as this will re­sult in count­less bro­kers try­ing to in­volve them­selves. Utilise the ser­vices of one prop­erty agency spe­cial­is­ing in your par­tic­u­lar lo­ca­tion, and es­tab­lish a good level of trust with them.


Be ready to have your prop­erty up on the re­sale mar­ket for at least three to four months with a stated price tag be­fore con­sid­er­ing a down­ward re­vi­sion of your price.

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