4 min read
04 Feb
04Feb

Why is the success rate of property sales are low in Sri Lanka?

  • People try to sell properties on their own without the proper know-how in the Real Estate Trade.
  • People don’t entrust the job to Professionals
  • People entrust the selling part of the properties to friends, relatives, neighbours, to find buyers, and ultimately it becomes a mess with poor results
  • People entrust the job to several Unprofessional Brokers, thinking that it’s the best way to sell properties. But it’s not. Because every Broker thinks that the other brokers will sell it…. So on. Ultimately not a single Broker takes any responsibility nor interest, and the property will remain unsold for years and years.
  • Most people are not aware of the professional know-how of the trade to sell properties.
  • People are not experienced enough to get the correct value to properties.
  • People fall into an unavoidable situation and agree to sell properties at low prices offered by neighbours, relatives or friends.
  • People have no experience to decide the correct time to release the property with the correct offer and suffer for several years later.
  • People get caught to tricks of the trade and fall into troubles without getting the maximum price for the property
  • "Too many Brokers Spoil the Sale"
  • Agents provide valuable insights into the local market, helping clients navigate the process efficiently and effectively
  • Benefits for Sellers:Expertise and Market Knowledge: Real estate agents possess valuable industry expertise and education, which is essential when selling a home
  • They understand market trends and can recommend pricing strategies to maximize returns
  • Negotiation Skills: Agents act as intermediaries between sellers and potential buyers, handling communication and negotiations to reduce stress for the seller
  • Their experience in negotiations can lead to better deals
  • Increased Exposure: Real estate agents can list homes on the Multiple Listing Service (MLS), giving the property broader exposure to potential buyers who are searching online
  • They know how to market a home effectively, saving sellers time and effort
  • Save time and money: A real estate agent can help save you money and get higher bids.
  • They also handle the required documentation
  • Connections: Real estate agents usually have connections to contractors, photographers, stagers, and other service providers that can help get your home in good shape to sell1.
  • Benefits for Buyers: Market Insight: Realtors have insights into the local real estate market, including neighborhood information, zoning, utilities, and schools
  • Negotiation: Realtors know the ins and outs of negotiation and will be in your corner all the way to closing
  • Full Time: Realtors can preview homes, find listings, and take you to showings
  • Real estate agents can help people achieve their dreams, and express gratitude when they get the keys to their first property.
  • They also have flexible schedules and unlimited income potential 
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