How to Sell Your HDB Flat In 3 Weeks And Up To $15K MORE Than Your Competitors

… While ELIMINATING Low Ballers and Window Shoppers.

Klein Ng

Hi, my name is Klein Ng and I’ve been helping numerous couples and families sell their HDB flats for over 7 years. In that time, I’ve done hundreds of transactions and generated many satisfied clients. And from my interactions with these clients, I discovered several common issues that HDB sellers encounter when trying to sell their homes. In fact, once I showed them how to overcome these problems, I was able to sell their flats in record time.

Read on below to discover the 3 deadly mistakes that HDB seller commonly make and how to overcome them..

Klein Ng

Propnex Realty

The 3 Deadly Mistakes of HDB Sellers

Sell Your HDB flat faster at a higher price

Mistake #1

Pricing your flat wrongly

It’s easy to use a lower selling price to get a fast result but that may be underselling your home. And every seller want to achieve the highest possible selling price to maximise their profit. So how do we achieve the optimum selling price?

The answer can be found by analysing market data

Let’s do a simple search on PropertyGuru, 99.co and Edgeprop for HDB flats for sale in Woodlands for example. The last time I did this search, it returned 3,465 listing results. 

Not all of these listings are your competitors because there are many variables that affect the value of a HDB flat.

For example, size, age, facing, floor level, state of renovation, proximity to MRT, and many more.

In order to make your unit stand out amongst the thousands of other HDB sellers in Woodlands, there are several things you need to consider:

  • What are other similar HDB flats selling for?
  • Why are other similar HDB flats sold for higher or lower than your asking price?
  • How quickly are similar HDB units being sold?

Very often, home owners only think about selling their flat at a price much higher than what they paid. That’s almost like plucking a random number from the air and hoping to attract viewings, without considering the bigger picture.

At your ideal asking price, how long are other Woodlands sellers taking to transact, and can you afford to wait the same length of time? And if you’re in a hurry to sell your flat, what can you do to speed up the process without sacrificing your asking price and caving in to pressure from low ballers?

Can you actually afford to price your flat even higher than your asking price while still maintaining the expected transaction time?

Going through hundreds or thousands of listings to spot patterns in the data can often take hours or days. But I have the experience, expertise and software tools to perform this critical step of pricing HDB flats quickly and accurately.

Pricing your HDB flat correctly will help ensure that your flat doesn’t remain unsold after months on the market

Find Out How Much Your HDB Is Worth

Get a FREE Home Report that tells you exactly how much your HDB is worth and who your nearest competitors are. This report is invaluable for home owners thinking of selling their homes. Get your customised FREE copy below:

Mistake #2

Not making a good first impression

Look at this 2 pictures of a HDB flat for sale below. It looks like a typical lived-in HDB flat.

Now, imagine yourself as a buyer. Would the pictures interest you enough to stop and consider it further? 

before reno

Probably not.. that’s why it so important to make a good first impression. A picture tells a thousand words and human beings are visual creatures. The human brain can identify images in as little as 13 milliseconds and over 90 percent of information that is processed by the brain is visual. That’s why appealing and attractive pictures will grab a buyer’s attention far more rapidly than text information. It can stir emotions in individuals and motivate them to act.

The key to making a good first impression is Home Presentation.

This typically involves dressing up a home with nice furniture and minor renovations. This works because you’re helping your prospective buyer visualise how your house can become their dream home.

By doing a home makeover, most of my clients are able to have at least 2 viewings a week on average.

Now, you may be thinking that making your home look like a million bucks is going to cost you thousands in renovation and photography fees…

But here’s a dirty little secret.

I’ve been able to pull it off for my clients in less than 7 days, and at no cost to my clients! Imagine turning your house into a showflat for buyers without paying a cent.

This is only possible when you know the right people and partners in interior design and contractors.

In fact, the make-overs I oversee will allow you to command an asking price that’s higher than similar units in your area.

Sell Your HDB Fast

Find Out How To Increase Your Property’s Value And Get It Sold FAST.

Mistake #3

Not Understanding HDB Policies & Timelines

Most people will only own 1 or 2 HDB flats in their lifetime. Hence, it’s understandable that most people are clueless about the latest HDB policies and regulations especially when it comes to HDB resale timelines.

Since the introduction of the HDB Resale Portal, resale transaction times have improved to the extent that HDB resale applications can now be completed in 6 to 8 weeks. But this doesn’t take into account the time for the buyer to exercise the OTP, the time to submit to the resale portal, the time for HDB to accept the resale application, additional time for contra deals and so on.

In fact, the top 4 most commonly asked questions are:

  1. Should we sell first or buy first? If we were to sell first, where do we stay?
  2. If we were to sell first, how can we ensure that we receive the funds in time to pay for our new home?
  3. If we buy first, how can we fully utilise our CPF and do we need more cash flow? Also, does that mean that we’ll have to service 2 loans at the same time?
  4. We’re about to collect the keys for our new home in 2 to 3 months’ time. Will we be pressured into selling our current flat below market value due to shortage of time?

Sadly, most people discover the answers too late for any holistic planning to be made…

Or they learn the painful way after transacting and making lots of mistakes and losses along the way.

You may have came across stories of “suay couples” who…

  1. Delayed selling their previous flat, and ended up financing both their new and old flat at the same time. This may work out to be $3000 per month ($1500 x 2) in the form of either CPF and/or cash .
  2. Another common scenario is a couple selling off their existing flat before buying a new one. However, their timeline were not properly managed, and they were temporarily left without a place to stay.

Not knowing HDB’s rules and regulations can becomes a source of stress and argument with your spouse when things go wrong. So it’s important to read up on HDB’s official website on policies, rules and regulations that concern selling your flat and buying a new one. Start making a checklist of thing to prepare and do at least 6 months before your deadline.

Alternatively, you can also engage the services of a certified and experienced real estate salesperson to guide you through the selling process.

Selling your HDB flat can feel overwhelming to the average home-owner who’s neither a lawyer nor real estate expert. Which is why I help my clients through a comprehensive 24-step checklist that covers issues such as…

  • Your CPF refund
  • collection of cash proceeds
  • handing over the property to your buyer
  • down payment for new property
  • stamp duties and legal fees
  • collection of keys for your new flat
  • and more…

This way, you don’t miss out on any important detail that may potentially cause you to lose money or waste time.

It’s one of the most important part of the process when you work with me. Planning your milestones and deadlines properly will ensure a smooth transaction, and smooth transition from your old to new home.

You also avoid having to cough out a huge sum of money for downpayment on your new flat or paying for a hotel or Airbnb while waiting for your new home to be ready.

Talk to me today by clicking here.

Why You Should Engage An Agent To Sell Your HDB Flat

Selling your HDB flat is a big deal, not only because it involves a sizeable amount of money but also because your HDB flat is a highly regulated asset class in Singapore. Just like you would employ a lawyer to handle your legal matters and a financial planner for your insurance needs, engaging a qualified real estate professional to sell your HDB flat has many benefits as shown below:

Management

An Agent will manage the process of selling your flat from start to finish. He will manage all aspects of selling your HDB flat, from advising you on HDB regulations to marketing and arranging viewings and finally completion of sale procedures.

Pricing

Every seller wants to sell their homes at the maximum price. An experienced Agent will advise you on the fastest and most cost-effective methods of adding perceived value to your house.

Buyer Qualification

No one likes low ballers and window shoppers. A savvy Agent will know how to filter out these time wasters who want to bargain down your asking prices or check out your renovations.

Marketing

A good Agent will know how to market your flat to the most qualified buyers. In today's market it takes more that just posting your listing on the property portals. Social media marketing, inhouse cobroking, video home tours are some of the most effective strategies employed.

Negotiation

When it's time to close the deal, an astute Agent will negotiate on your behalf to close the deal at the best price and conditions for you. He will protect your interests in dealings with the buyer and their agent.

Coordination

Besides managing your sales timeline and house viewings, the Agent will coordinate and communicate all housing related matters with you. For example, renovation work, buyer offers, HDB apointments, etc.

Get Viewings From Serious and Qualified Buyers Week After Week, With Geniune Offers - Fast!

Work With A Highly Successful Professional And Get Results!

My clients say

The 7 Steps To Selling Higher Than Your Neighbour

Get a FREE Home Report that tells you exactly how much your HDB is worth and who your nearest competitors are. This report is invaluable for home owners thinking of selling their homes. Get your customised FREE copy below:

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