8 ON CHUAN
Creative Marketing and Professionalism Helped Buyers and Sellers Complete The Transaction Successfully
How Did We Meet?
We first met our 8 On Chuan client at a viewing of a single storey detached house in Serangoon Gardens.
After the viewing, we followed up and discussed with them on why the land was suitable for them to build their dream home — freehold, currently a one storey detached house, regular land shape and good size all added to the ease of rebuilding. They have been shopping around for a while, considered the points carefully and eventually bought the property 😃
One year and a half on, when their new property was close to completion, they called to invite us to market their current 99-year leasehold property at 8 On Chuan.
How We Marketed The Property?
Using a video, we launched off Facebook campaigns and gained a lot of awareness about this property. The reason we used a video was to tackle TWO (2) Major misconceptions about this property.
(1) Landed is Too Expensive
One of the key mentality we had to breakthrough was that Serangoon Gardens only contained expensive freehold landed properties. This was not true as ours was a value-for-money, young 99 years leasehold property with more than 83 years left on the lease!
Through the video, buyers were informed about how and where this affordable 99-year leasehold property is located- especially how it is within proximity to a plethora of amenities such as the wet market, food centers and, of course, the night food hunts in the Serangoon Garden!
(2) Inter-terraces are always very dark, with no natural light.
Buyers also had a good preview of the house as we highlighted the features of the 3-storey inter-terrace that many adored – particularly, the gorgeous air well in the middle of the property. This air well allowed a flood of natural light to flow down into the center of the home and into all the rooms.
With the aggressive pro-active marketing, our team received more than 30 property enquiries. 5 of the buyers eventually came for viewings over 3 weeks and we sealed the deal within the first month of marketing.
But that’s not all.
The second part of our work is Negotiations, to ensure we achieve a lovely win-win situation for both buyers and sellers.
Negotiations were intense as the sellers needed another 6 months from the OTP date for a smooth transition to their new house. This meant buyers may be offering the sellers, 2 months rent-free stay, and also that they had to delay the sale of their current property.
The terms were eventually aligned by having our completion extended for another 5 months to allow sellers to have a roof over their heads. This way, buyers would not have to pay fully for the house until they take over the keys to the place.
In addition to price negotiations, we, as real estate professionals, often had to play a vital intermediary role in aligning prices vis-à-vis terms amicably between buyers and sellers. When emotions are high among the main stakeholders (buyers and sellers), our role is to remain professional and level-headed so that we can make the transaction smooth, fair and transparent to all parties so that everyone is happy.
We were glad that everything went smoothly for our clients and they are now happily settled in their new home!