Many Filipinos, especially Overseas Filipino Workers (OFWs) in the UAE are going into the business of property investment. Having your own property allows you to build your dream home, as well as helps you get a passive income once you retire.
And when it comes to passive income, condominiums are the ones that prove to be the most profitable. With so many renters looking for a place with amenities and accessibility, condominiums have become in demand anywhere in the Philippines. In fact, condo units are the most talked and about at the Philippine Property and Investment Exhibition (PPIE)—the biggest, longest running and most trusted Philippine business and investment forum in the Middle East—with many people registering via: http://events.ppie.ae/register/.
And if you’re one of those who have already bought your own condo unit, how can you assure that it will attract potential buyers in the future? Check these tips out:
Tell your friends and families about your desire to sell your condo
Recommendations from families and friends, or even colleagues, can heighten your chances of selling your condo—simply because there is more confidence on the part of the seller if it came from someone they know personally.
Take advantage of advertisements
Whether it’s through notes on your building’s bulletin board, the newspaper, or through online selling sites and social media, advertising is a great way to gain traction about your desire to sell. Especially if you’re a social media savvy, you can easily promote your unit just by posting a photo and good captions about the features of your unit.
READ ALSO: 5 Reasons why OFWs should look into purchasing pre-selling condo units
Consider your market
The one thing that can help you effectively sell your condo is by knowing who actually needs it. It’s important to know your market so you can narrow down who might buy the unit in the future. Is your condo near universities? Then make sure your advertisement targets students. Is it near offices? Then target the young professionals. Is it near schools and hospitals? Starting families are your best bet.
Highlight your condo’s best features
You can’t possibly sell your condo if you don’t highlight what it can offer your target market. Make sure you post good photos, talk about its convenience and amenities, how near is it to important establishments, and how safe it is. Consider what people look for in a condo, and make sure you highlight your unit’s features that answer those concerns.
READ ALSO: House essentials first-time condo owners should prioritize
Flip it!
People would most likely buy a property that’s in good condition and is fully-furnished. Make sure to fix your unit and make it attractive for potential buyers.
Know your price
Know the current market value of your condo to determine how much you can resell it. If you don’t know your condo’s real value, you’ll end up asking for an unreasonable price—which can make it longer for you to sell it because buyers may think it’s too much. Or you may end up selling it way too low—robbing you off your chance to actually make the profit you deserve.
READ ALSO: Busting the myth about a condo’s lifespan
Learn to negotiate
Be a good sales-talker and find a way to convince the buyer that your unit is a great one. It’s also important to find a way to compromise and negotiate with what they want, without looking desperate. A smooth communication will assure a great selling transaction.
Tips to re-sell your condo unit
