How to sell my villa in Bali: standing out in a crowded market - Part 1 - Dominique Gallmann - Exotiq Property Bali - Tags: Dominique Gallmann Exotiq Property Bali - How to sell my villa in Bali - The Real Estate Conversation
As a representative of one of Bali’s leading real estate agencies and a member of the Gapura Bali network, I can safely say the number of villas for sale grows daily but only a fraction of them actually get sold.
From the vendor's point of view this isn't very encouraging, I know, so I'd like to look at some possible reasons why it's the way it is and what you can do to stand out in a crowded buyers’ market.
It’s quite simple: your villa needs to look prettier and more attractive than the rest.
Let’s start with the pretty look. You may not be the best judge here, after all it is your villa and owners have a tendency to overrate their babies. Why don’t you get someone else to walk through your property and point out, what he or she thinks would need to be done to spruce it up and make it look better. Or you could ask one of the Gapura Bali agencies to help.
Here are some simple and inexpensive things that can make a huge difference and help you stand out.
When was your villa painted last? More than 2-3 years ago? If so, this is most likely something you can’t avoid getting done. Buy some fresh paint and maybe rethink the entire color scheme of your interior. Who knows, you might actually enjoy doing that!
How is your floor looking?
I've seen sad looking floors that simply needed a thorough cleaning to look fresh again. If you have a terrazzo floor that has aged badly and looks stained, consider getting it re-polished and it will look like new. It's less expensive than you might think.
Got any leaks?
The condition and impression of your roof is another very important aspect, particularly here in the tropics. Have you got any stains that could indicate leaks?
If you have an alang-alang (elephant grass) roof with those ugly black or red patches everywhere, consider replacing it before you go to market.
It’s a big turn off for a prospective buyer if they realize the roof is the first thing they will have to fix or replace after having bought a (not so) new house. Most buyers haven't got a clue what a roof-reno will cost and overestimate the expense and hence will shy away from buying your villa.
Let’s step outside now and look at your garden. In most villas I've seen, the gardens would benefit hugely from a bit of professional attention and believe me, it makes such a difference!
And the good thing is, it really doesn’t cost much and it’s almost instant. For less than a USD 1,000 you can create wonders and transform your property. But please get a pro to help you here.
Now we've taken care of the most critical cosmetics of your villa, let’s have a look at one more thing that’s super important for first impressions; your stuff.
Be honest to yourself: how messy is your villa on a scale from 1 (super organized and neat) to 10 (really badly cluttered).
Isn’t this the best time to clean things up? You'll have to do it anyway once the villa is sold, so why not do it now! It will make your villa look larger and more expensive and you might even enjoy it more while waiting for a buyer.
All done? Lets have a last look at the immediate neighborhood. I know that’s not entirely your responsibility but it's important to at least be aware of the things that could turn away a potential buyer.
Any garbage or litter on the access road? Any bad smells? Use some incense sticks before the inspection. They even do that at KuDeTa … and it's always full!
Ready for a sale?
Not quite yet. Now we need to document the newly acquired splendor of your house and get it properly photographed. That’s a subject all on its own, which I'll look at in my next blog.
This blog was previously published on Gapura Bali
Due Diligence Part 1: know your agent and save yourself a lot of trouble
Dominique Gallmann Exotiq Property Bali How to sell my villa in Bali Selling a villa in Bali Real estate agents Bali Villa photography Bali Preparing a villa for sale Fixing villas in Bali Selling Bali property