I often encounter this question from the owner that interested in "Renting / Selling" their property.

The one million dollar question that I encounter is "What is your strategy to Sell / Lease my property?"

Not sure any other GURUs here had encounter the same questions, but I would like to hear from the floor if you are an agent, What is your strategy to sell / lease my property?

Perhaps let me start off this by giving a very common answer most agents would say "To sell/rent your property at the right price"

Seems a bit vague but many will answer their client in this way though...

property that rental sufficient to cover installment. sell the property if price is good and got better investment

@6011_3531_5354 Nic nowadays most of the property they purchase the rental is not sufficient to cover the installment, and the owner always will ask, what is your strategy to rent my unit out? and what would your answer be?

normally owner will ask "how much can rent out, how fast can get tenant". this two concern settle then fine. haha.  

I'm not a sales person, but if I were to do it, my strategy would be to do a survey on the surrounding market and see what others are offering. ALWAYS KEEP IN MIND THE THEORY OF SUPPLY AND DEMAND.

First, put yourself in the shoes of a tenants or purchaser on what will you be looking for.

From there, we could have an insight of what your potential tenant or purchaser will be looking for.

I.e. you are offering an unfurnished unit, but in the market, a lot of others are offering partly furnished unit at a lower price. Hence, through this you should know where's your stand. If you do not plan to furnish it, you can also expect a very low rental/selling price for the unit. 

If you are going to do furnishing, then make sure you are only furnishing the necessaries/basic starter pack, at a very standard cost. The brands of the products might not have any impact to the rental/selling price of the unit. (I.e. items that are necessaries to a tenant daily usage but irrelevant to buy for rental.) 

Lastly, put yourself into the owners shoes when choosing potential tenants/purchasers. 

@Ace I pray that every agent will have same mind as you. But in reality, they dont. In reality, they won't put the right price for owner but instead they will ask the owner to lower the rental because they would said to owner that the market is weak bla bla bla so you have to lower down the rental & selling price, if you wanna get partial income to cover instalment & get rid of it asap respectively. 

I've asked few agents to put my current property in market for a price I think it is worth for me but they all refused to help me (because to put it online iproperty & similar sites Agent has limited slot to put the advertisement). There! in a way, they just want a property that's cheaper than market for them to easily rent out/sell off in order to get commission ASAP (i guess the agent is right, in his/her perspective). In which cases, I don't blame them. But yes, how would I find a right agent, to sell at the right price I wanted? Question remains. 

@nicky_esh My case differs, the owners that I meet, despite advise given to them, they tends to put their price way above the market / ceiling price. Causing the property to left vacant for ages. And when they noticed that their neighbor property is tenanted they will start barking at the 10 agents that he/she previously engaged with and asked why the neighbor property can be rented out and his/hers can't. (Ignoring the fact that they are asking for a sky high price for nothing in it) 

Many owner do not get the fact that the market had slow down since year 2016 and so is this year, and they could not really expect what they had actually earned / profited in the past... But sad to say many just ignore this fact, and to them, Petrol Price increase, Food Price increase, Medical Bill Increase, Airlines Ticket Increase, so will their property rental. 

Just sharing some of my staff's pain here with the floor...

Owner want good rental, Agent want faster comm/high comm, Tenant want low rental. That is common. Businessman want to earn more, worker want higher salary, customer want good and cheap. 

@6011_3531_5354 Which comes back to the same good question "what is your strategy to sell / rent my property out??:

Seems like the owners are trying to outsmart the market, and you have put in effort to educate them. 

The last advice to these owners is their holding power lo. If they have the holding power they can continue marking the price at that ceiling price. Eventually, one day they might receive someone accepting their offer at that price. 

Maybe the alternative solution for the vacant property should be turning it into an Airbnb unit or homestay run by the agent on behalf of the owner. If even this also doesn't work for that owner, haha...GOOD LUCK. 

"Good stuff do not come cheap, and cheap stuff do not come good"

Owner need to find out about the market rate and try to offer something "extra" to attract potential tenant to accept the "premium" rate.

Agree with Dominic but the Agent Fee is going cheaper and cheaper with the competition and more illegal surfacing in the market... 

@Ronald... what do you mean agent fee going cheaper? is it not the standard one month rental commission anymore nowadays?

Illegal, you mean brokers acting as go between owner and tenants?

What kind of marketing does agents usually use to promote themselves as well as their properties?

Owner asking that normally hoping to know how soon you can get them a buyer/tenant. So I believe best thing to tell them is your brief analysis of the subject property, the market segment (where the potential buyer/tenant is), and how to reach them lo.

For example, SOHO very fancy and suitable for youngster... they like to use internet and mobile phone to search for their property so I'll allocate >50% of my resource in email/portal/social marketing. Whereas RM10 mil bungalow must be sold to some successful biz person hence I'll advertise in business newspaper, etc...

Something like that...

The one thing most owner who do their own marketing... how do we offer something "premium" which the agents cannot offer?

If offer lower rental, will definitely spoil the property market.

More freebies?

@Henry,

These days, one of the most effective ways to reach out potential candidates in marketing has always been education. Create a platform and do some sharing sessions on the subject matters that you are trying to promote. 

When it comes to property, it involves a lot of money. And this is never teach in school nor text book. Do some market research with the analysis data to support your presentation. Then you implant the ideas into the target audiences. 

Once you are done with the presentation, you start selling your product. Knowledge of the product is essential, hence, it will effectively promote the agent themselves as well as the product at the same time. 

@imronaldsoo thanks for sharing