How to sell your house in Nigeria

This house selling guide provides free home selling tips from our experts here at RE/MAX Nigeria.




The purpose of this home selling guide is to provide you, the home owner, a simple and practical’ how to sell your house’ guide that can help you get it off the market as quickly as possible and for its rightful value. The idea to put together this guide was born as a result of our interaction with property owners who are anxious to sell their homes as fast as possible.

Some others don't want to use a real estate agent so that they can act as an agent and keep the estate commission to themselves. So they go online, signup with an online discussion board or real estate forum and begin to ask folks in the forum the simple question, "I want to sell my house myself. How do I go about it?

This how to sell your house guide is for you whether you're a home owner who appreciates the role of real estate agents (and so want to engage an agent to sell your house) or whether you're a lone ranger who simply wants to do it yourself. Use the free home selling tips below to put your house in the front burner and position yourself to sell your house quickly.

1. Know the Value of Your House

 

One of the first things to know about your house is the worth or its market value. Why is this important? Well, at the very least, it will prevent you from having false expectations about the true worth of your house.

Property owners come to us and tell us they want to sell their house. When we ask them the price they wish to sell, many of them request a ridiculously high value. We can certainly understand and relate to their feelings, as they want to sell as high as possible so they can make as big a profit as possible. No one wants to leave a kobo on the table and certainly no one wants to feel cheated.

On the other hand, homebuyers want to buy as low as possible so that the payback period will be low. And when the payback period is low, they recoup their investment fast and can get a higher return on their real estate investment. You see, everyone wants to protect his or her interest. Bottom line, If your sale price is too high, your property will stay longer in the market. Therefore, the very first step in this how to sell your house guide is this . . . know the value of your house. How do you do that? You can either call a property valuation expert or a property appraiser to conduct areal estate appraisal or you can use the most recent sale price of similar properties in your area as a benchmark. RE/MAX may be able to offer complimentary valuation services to clients under certain circumstances.

2. Engage A Real Estate Agent


The second thing to do is to engage the services of a real estate agent. Let's face it, Nigerian real estate agents are in the business of selling and renting properties on a daily basis, some better than others. Therefore there is a likelihood that the right agent will help sell your property faster than you can on your own because they meet more people who are ready to buy and know the right people to market your property to . . . people already in the "buy mode".

3. Make Your House Sellable


Here's the third secret to selling a property fast in this how to sell your house guide - Make your house sellable. What does that mean? It means that you should prepare the house to have greater value in the eyes of the potential buyer. Consider innovations unique to your personality to help improve the quality of the house – painting, cleaning or simple renovations.  Check our guide to staging your house for greater appeal here:

4. Make Room For Negotiation


Most home owners already have a price they wish to sell their property even before approaching the real estate agent. Some of them don't care what market conditions are. They believe they can sell at the price they wish to sell if the estate agent will just believe it can be done. But suppose you then find a client willing to pay cash but his/her offer is one million Naira less than what you have in mind. Will you be prepared to bend backwards a little? Well, it's up to you what you do. It's your house remember?

5. Close The Sale


When it's time to close the sale and collect your money, please do. Some people are emotionally attached to their house. In such instances, even after the potential buyer has done all that is required and is ready to pay, the home owner may still want to delay the transaction just a little bit more wondering if selling this house is the right thing to do. Unfortunately, some home owners have lost good money as a result of that. Our advice? It's good to look back before making the final decision to sell off. But once that decision has been made because you need to invest somewhere else or you have other plans for the remuneration, then collect your money and get it over with.