With 30,000 property agents in Singapore, finding a good property agent who can sell your home at the price that you want, within the timeframe that you require, may seem like a piece of cake. But that’s not always the case. Jasmine Chong, founder and director of Lab Studios, knows this all too well.
She had engaged multiple property agents to sell her penthouse, all armed with different tactics to market her unit. But for 3 years it had stayed on the market, gathering dust on the shelf while waiting for a ready buyer to snap it up.
“I was desperate to sell it,” Jasmine told Ohmyhome. She had lived in her penthouse for about 8 years and, around 2015, was ready to sell it and buy a marital home where she would have the space to watch her family grow. She rented it out for one and a half years and kept it empty for another year and a half. In 2018 she began the serious work of selling it. Thus began the 3 years of uncertainty and disappointment— the aftermath of not being able to find the right agent to market her home in that period of time.
“I reached out to multiple agents who were initially happy to market the property for me at an agreed commission upon sale,” she said. “However, as we got some viewings in, the agents would return to downplay the property in hopes that I would adjust the price downwards to make an easy sale.”
Lowering the selling price of a property is a common-enough tactic among property agents who are eager to close a deal and earn their commission. But sellers rarely agree to it for various reasons. For Jasmine, it was because she believed the property had value, far more than what her revolving door of property agents could see.
She told Ohmyhome, “I held firm as I believe the property has value. We just had to wait for the right buyer.”
As it turned out, she did not have to wait for long.
3 years and multiple property agents later, Jasmine finally found one who could be on the same page as her.
“When Ohmyhome took over, I was assigned an Ohmyhome Super Agent,” she said. “He told me that my property was rare and desirable not only because penthouses were limited in our development, but that mine also had a beautiful unblocked view. He was confident he could sell it for the price I wanted.”
After years of hearing from several property agents that her property would be hard to sell, she had found an agent who was not only confident to sell her home, but also accomplish what he said he would.
“Ohmyhome sold my penthouse in two months at the price that I wanted,” said Jasmine. “I remember how my Super Agent told me that the property was sold. I was at the playground with my son and then my phone buzzed. I answered and he’s like, ‘Hi Jasmine, I have good news to share!’”
When she asked if there was a viewing coming, she got a response that was much better than she was expecting: the apartment had already been sold, at the price that she wanted, and there was already a check with her name on it.
“It was just so easy,” Jasmine said of her experience selling her home with Ohmyohme. “I wasn’t expecting that at all.”
Ohmyhome equips its property agents with tools to make transactions simpler, quicker and more effective. Ohmyhome Super Agents, like Jasmine’s, have access to a database of ready buyers, an advanced algorithm that could accelerate the process by matching sellers with buyers, and a home valuation tool that provides all the data an agent would need to price a property competitively.
Tapping into Ohmyhome’s ready pool of buyers
Apart from listing your home on property platforms such as Property Guru or 99.co, or marketing the listing on social media, Ohmyhome also has an internal database of buyers that our agents can easily tap into — without actually lifting a finger.
We’ve compiled a list of buyers’ preferences from this short questionnaire, which is easily accessible on the Ohmyhome website, that asks a series of questions ranging from a buyer’s budget to the location. Buyers can even specify the schools they want to be close to, which floor they want to stay on, and the remaining lease tenure of the property. This information is fed into our MATCH system that matches sellers with buyers by sending the listings that match their preferences directly to their WhatsApp inbox.
What’s even better is that these buyers are not just casually shopping around for a home. They are actually ready to make a purchase if they find a unit that matches their preferences. So when you engage Ohmyhome services, your listings have a higher chance of getting viewed by ready buyers who may call for a viewing at any time.
Free home valuation with property market report
Ohmyhome agents also have access to a home valuation tool that gives both the estimated value of a property and a report which includes data such as the current price trend in the property market and recent transactions in your block or area.
This home valuation report is exactly what Jasmine had received from her Ohmyhome Super Agent on their first meeting, and why he was confident in selling her penthouse at the price that she wanted.
With the knowledge our agents have of past transactions in your area and the current price trend in the market, they will be able to advise you on the optimal price for your home. Knowing the market average, they can also help you negotiate with buyers on the sale price using real, convincing property data.
If you’re specifically selling a HDB flat, you may know that the Board will value the property themselves. But what you may not know is that they will only assess and reveal the valuation to the buyer after the OTP has been issued, and both you and the buyer have decided on a price.
Lucky for you, our e-Valuation tool is free and easily accessible so you won’t have to wait until then to know what’s a fair market value for your property. Simply key in your address or postal code to get your own home valuation report from Ohmyhome.
Of course, if you’re selling a private property like Jasmine, you can also use this tool before engaging an agent. Strengthen your knowledge about the current market trends and edge out other sellers with your newly-gained information on how to price your listing right.
With all this, Ohmyhome was able to sell Jasmine’s home in 2 months, compared to other freelance agents who tried for 3 years.
“I am not a seasoned property seller but from my one experience, I realised that you can easily be swayed by the agents you work with,” she said. Her advice? “Pick one that you trust, preferably from a reputable company, so they stay accountable not only to you but to the company they work for. If someone called and asked me about Ohmyhome, I would definitely recommend them.”