ADVERTORIAL

If you are planning to buy or sell property anytime soon, keep in mind there are a number of commonly accepted myths circulating regarding the buying and selling process which you had better be aware of – or these questionable beliefs may influence your investment decisions negatively.

Here are a few of those misconceptions, and an assessment of their truth based on our market knowledge and data, thanks to Realestate.com.kh!

Misconception #1: Spring or summer is the best time to put your home on the market.

Realestate.com.kh Verdict: Not entirely true…

This is a commonly help misconception that might have come about because many house hunters, especially those with children, have holidays during the spring and summer months. This time off gives these buyers more time to search and visit, and ultimately purchase, their new home. Because of this, sellers also try to follow this rule and only start marketing their home for sale once the sun starts shining.

Yet, remember, not all buyers are families. A lot of your potential buyers will be bachelors looking for a new pad, or down-sizers and retirees, or maybe those seeking a pure investment opportunity with no intention of living in the home themselves. This means not all buyers follow the school and vacation calendar, so neither should you.

In fact, for property sellers, winter may be the best time to list, and allow you to list at a higher price – because during this period, real estate transactions may slow because of a downturn of new listings in the market, and is thus could be a prime time for you to offer your home to the market.

Misconception #2: The internet is all I need to find a new property for sale or rent.

Realestate.com.kh Verdict: Not entirely true…

Yes, most info about real estate for sale or rent can be found online these days, and checking out real estate websites such as realestate.com.kh is a great way to short list properties that meet your needs without physically visiting every house in town.

But – remember that real estate agents have a lot of local experience and advice, and they should know the property buying and selling transaction process inside out.

If they focus on a certain area of the market, suited to your needs, they will also be in a strong position to give you good advice about that area’s market trends. A good agent should have foresight beyond the immediate sale transaction in their area of expertise, and be able to tell you whether the property in question is likely to be a winner or a loser in the long term.

And remember that when you buy or sell your home, the show isn’t over as soon as you get a yes or no answer – the sales transfer can be a tricky and drawn out process that requires local knowledge of regulation, processes and, as importantly in Cambodia, an understanding of local practices.

A professional real estate agent can walk you through this entire journey, and make sure you don’t have to stress about aspects you don’t understand.

Misconception #3: If you list your property online, you don’t need open houses, property inspections, or offline marketing to sell a home:

Realestate.com.kh Verdict: Not entirely true…

Online marketing with a real estate listing including full photos, videos, and even 360 video tours and renders will give potential buyers a taste test that they can’t refuse. But, buyers are unlikely to sign on the dotted line without supporting this with a physical visit that is well prepared for and shows the property in its best possible light.

A property viewing is where the buyer connects emotionally with the property and makes the conscious decision to sign. They can only really imagine living in a space once they see it for themselves. With this in mind, you better prepare for visits as soon as you start listing online.

If you have any further real estate questions, inquiries or concerns, then reach out to the www.realestate.com.kh team on [email protected] or +855 (0)17 436 756, Cambodia’s home of real estate, and the leading real estate news source in the Kingdom.