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Tips for Successfully Selling Real Estate in Phuket

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Thailand is known for its hospitality and comfortable climate, so more and more of our compatriots are considering buying their own property in this kingdom. As Thailand has developed over the past decades, so too has its real estate market. This is especially evident on this magnificent tropical island. However, buying property in Phuket can be a challenging task. For that reason, the property owner must not only stand out from competitors but also convince the buyer to conclude a deal on favorable terms for them. The following are key recommendations that will make this process easier for real estate sellers.

Tips for Successfully Selling Real Estate in Phuket

Correct Pricing

Here are several recommendations that will help the owner determine the right price for their property:

  • Analyze prices of similar properties. Similar properties are homes with comparable size, condition, location and amenities. A new two-level penthouse with a pool and an area of 162 sqm should be priced in the same category as similar properties in this area.
  • Analyze market conditions. For example, the price of the last three similar properties sold in the seller's area was $250,000. To attract buyers, the owner should set a similar price. The owner can value the property at $249,000 and agree to $245,000. Or vice versa, add 10% to the $250,000 if supply is limited and demand is high.
  • Analyze the area. Future prospects of the area may affect the price. If the area is expected to develop positively, such as construction of a large shopping center, new roads or schools, property value may increase by several percent. On the other hand, if shops and gas stations are closing down, it's better to sell the house at a lower price.

    • High-Quality Photos

    The process of selling real estate becomes much easier if the owner presents it in a favorable light. For this, the owner can hire a professional photographer who will take high-quality photos showcasing all the benefits of the property. The list of these key points does not include a photographer's view. After all, his reflection will simply divert attention from assessing the apartment's merits. The owner sets the right angle to make the house look as spacious as possible, and uses other techniques for good lighting. Good photos will increase the number of people interested in viewing the property and its likelihood to sell. Real estate listings should provide buyers with necessary information: condition, finishing, views from windows and so on.

    Property Condition

    What is the condition of the house? Does it look fresh and new, or does it need improvement – repainting walls and adding accessories? A small cosmetic renovation is an excellent way to increase the interest of potential buyers. Fresh paint on walls, new curtains and carpets, good condition of household appliances – all these small details help present the property in the most attractive light. However, many well-maintained apartments are so filled with furniture and household items that potential buyers simply do not have the opportunity to see the apartment's advantages behind this clutter.

    Even if apartments are sold with furniture, buyers don't want to see chairs, tables and beds; they want to visualize the apartment size and understand how spacious it is. An abundance of interior items fills up all available space and always hides the actual dimensions, making a house seem smaller than it really is. It goes without saying that paintings with a large table, sofa or dresser in the foreground make photos in an ad nearly meaningless.

    Reliable Real Estate Agency

    Competent real estate agents with years of experience know the necessary nuances that will help sell property at a favorable price. They consider all factors related to this issue: from the right time of sale to current market trends. Often, experienced investors who profit from reselling property in Phuket turn to specialists at Thailand-Real.Estate. They help sellers understand the market situation and attract potential buyers' attention. Real estate specialists possess all necessary knowledge and can tell which areas bring the highest returns to owners. Investors working with such an agency never doubt their decisions.