Closely observing, you’ll notice that the housing market in Malawi is in turmoil; lots of sellers are simply unable to get their properties off their hands. On the other side, buyers are less able to obtain loans and credit for real estate because of a fearful market place further escalated by the Covid-19 pandemic. In order to make a successful transaction these days, you need to pay attention to the 4 rules down here that are now in play:

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1. Pricing matters

Unlike a few years ago, if you want to have any chance of selling at all, you need to price aggressively. Buyers are sacrificing quality for price, and it may cost you more to wait forever for someone to take your price than to price lower and sell right now.

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2. Quality buyers

The days of letting buyers battle with each other over who can buy from you, resulting in a better price for the seller, are over. With fewer buyers and more desperate sellers, quality buyers who can really pay are the most sought after.

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3. Staging

If you’re selling your house these days, just giving it to estate agents or simply putting up a For Sale sign and hoping for the best probably won’t be enough. In a sluggish real estate market like Lilongwe, house owners sometimes have to take extra steps to make a sale – let’s talk about Staging the house!

Staging is the preparation of your house for sale. The goal of staging is to make your house appealing to the highest number of potential buyers, thereby selling your house more quickly and within a short period. Staging techniques focus on improving a property’s appeal by insuring it is a welcoming and attractive such that any buyer can see himself/herself living in it or owning it, and inevitably, desire to purchase.

Preparing your house for viewers, or “staging” as it is called, is very important. It will not only ensure your property is sold faster, but can potentially add thousands to millions of Kwachas to its value.

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4. Expectation

Prices aren’t going to return to what they were some years ago in the next few weeks, and waiting for that to happen will be costly. Instead of expecting or waiting to sell for how much you think your house is worth, you need to price for the actual market value today or you won’t sell, period.

In conclusion, remember that the more eyes that you get seeing your house making a positive impression, the better chances are of selling your home quickly and for the highest amount. Remember that your window for staying at the front and center with your house on the market is short. So make the most of it otherwise it will turn out costly for you with the property staying longer on the market.

In part 2, we will focus on “Pricing” so that we uncover the secrets of pricing that will make you sell your house faster whilst still earning the highest profit possible. We’ll also guide you on how to recognize and interpret flags that tells your house is overpriced as this helps to quickly adjust your price before it is too late, keeping in mind that the window period for staying at the front with your house on the housing market is short.