7 August 2020 - Even before there was a thing called the COVID-19 pandemic, people all around the world had adopted the use of on-line information searches to handle everything from restaurant menus to piano lesson price comparisons. Today it seems that everything we need to know is just a few clicks away on a computer or smartphone.
But with any kind of research aimed at enhancing your everyday life also comes certain key things to remember. This is especially true when carrying out on-line property searches to find a new flat or make a home purchase. With this in mind we at OKAY.com want to share the following key aspects to consider the next time you decide to go online to search for a property.
Beware of fake listings
Unscrupulous real estate agents will often try to tempt you with a very exclusive high-priced property come on (perhaps a non-available or non-existent unit) just so they can get your contact information in an attempt later on to show you something completely different.
The best way to spot fake listings is to pay close attention to all listings from the same agency for the same housing estate. Check to see if the pictures and descriptions are all the same, but the prices or number of floors are different.
Keep up to date with past transaction records
The listings on OKAY.com display the latest transaction records of the building and details about the area, etc. This way you can compare it to the listing for your favorite real estate target in real time. If the actual price per square foot is lower, the market is telling you something: It’s time to make your move to secure a great opportunity before someone else beats you to it.
Compare prices with properties in the same district
Take a look the real estate introduction section, here you’ll see average price comparisons between the unit you have your eye on and other listings in the area. This will give you a rough ballpark price range for that the unit. Of course, there often tends to be many listings in a single district. If the unit you seek is in good condition and priced close to the average, it’s best to enquire about it as soon as possible.
Consider factors other than price
If you come across a unit that is beautifully decorated and currently in the hands of friendly owners, who can extend flexible lease terms, even if it the price isn’t an exact match with your expectations, it can still be considered a rare and valuable find.
In addition to looking at the photos and prices of the real estate online, you can, of course, also visit a unit in person to evaluate the quality and talk to the agent to gain better insight about the characteristics of the property and any miscellaneous fees included in the price.
Don’t wait around too long
Never delay replying to an owner’s agent, or slow walk a transaction to make the other party think you are just window shopping. You never know who else has their eye on that great potential property deal.
Once you make an enquiry, try to set up an appointment as soon as you can to view the building. If you have any specific requirements, for example, only high-rise units or you have one particular housing estate you are aiming for, you can always explain your needs directly to the agent. Even if a deal falls through this time, If an agent thinks you’re seriously in the market for a property, they will immediately think of you the next time a great opportunity arises.
Make good use of the resources on the OKAY.com website
When acting as your own agent, it’s not easy handing all of those daunting procedures and tasks like bargaining, searching, contract signing and fee payments, etc. At OKAY.com you’ll find over 6,000 accurate and informative home real estate listings. In addition, they have one of Hong Kong’s finest teams of multi-lingual estate agents, who speak English, Chinese, French, Japanese and many other languages. Download the OKAY.com app today and see just how fast, convenient and professional your home hunting will become.