In a perfect world, selling one s residence or commercial space wouldn t be a problem. You d fix a price, pass the word around, and bingo – sale. However, this isn t a perfect world we live in. And because of its burgeoning economy, Bangalore's real estate market is among the most fickle in the country.

Personal market research

Don t think it strange that their very first advice is not to rely on your real estate agent alone, at least at first. In their experience, nobody knows a house or commercial space better than its present owner does. Only you know why the property is worth the asking price. Only you know what kind of people you would like to entrust it to after you leave it. Nobody knows the neighborhood as well as you do. These are aspects you might not be able to communicate effectively to your property consultant. Therefore, you start off by doing some investigation of your own.

First, establish what the going rate for properties like yours is in Bangalore in general and in the property's actual location in particular. The factors to consider are number of bedrooms, floor space, compound area (if any), facilities and amenities available, and so on. The right price tag won t take you long to figure out – there are ready reckoner rate lists available at almost every real estate agency, as well as websites. If you have trouble with this, give the local hotline a ring.

Why bother, you may ask.

In the first place, you need to know what your property is worth. Secondly, you need to have a ballpark estimate of the local competition – after all, it s unlikely that you re the only one who wants to sell a property. Thirdly, this will enable you to decide on a fair, yet competitive price. Lastly, it gives you a chance to upgrade your own property if that s what it takes to give you an edge – a little paint-job, some garden beautification, a repaired fence, etc.

Make declaration

With the above basic footwork done, you have a clear choice between proceeding yourself or retaining the services of a real estate agency (Bangalore's real estate market is overflwoing with these and it won't take you long to locate a suitable one). In either case,

it s now time to get the word out about the availability of your property. How do you do that Simple – advertise. Not by a vague rumor through the grapevine, though. If you are under the impression that you can make the perfect sale by relying on a handful of references and acquaintances, forget it.

As already stressed, the property market is a highly competitive one. People don t buy a flat or shop based on a few well-meant words by common friends anymore. Even if they do, they re likely to under-quote on the given price in an effort to exploit the personal connection.

Advertising has never been as easy at it is these days. The available media include the local newspaper classifieds, specialized real estate journals, popular magazines, telephone hotlines and the Internet. Yes, the IT Revolution is an undisguised blessing for the property market. At minimal cost, you can highlight your property on an often-clicked real estate website and soon be flooded with inquiries.

Alternatively or additionally, you can announce the intended sale of your property through a standard classified column in most newspapers. Ensure that the paper you choose is widely read in your target market area. Also ensure that every advantage your property offers is given exposure (never mind the standard 1BHK flat with luxurious amenities angle – mention the pleasant surroundings, the schools and markets in the vicinity, the high quality of specifications. Invest in a little more space to do this properly; it s well worth the expense.)

Desk-top-publishing your own circular is also a great idea. Once all the positive attributes of your property are down in print, it makes much more sense to enlist the help of your neighbors and friends to hand them out. With hard facts down in black and white at their disposal, they can act as a highly effective advertising medium.

Call the professionals:

At this stage, it is quite likely that you will have some tentative inquiries from interested buyers. However, unless you have specialized knowledge of the real estate market yourself, it does not make much sense to go solo from this point onwards. Trying to wade through the technicalities involved in a property transaction without a property consultant would be like trying to fight a legal case in court without a lawyer. Reliability can be established by checking the agent s references through your city s Real Estate Agents Association. For a certain fee, your agent will safely see the transaction through for you.

You can, of course, call up a consultant at the advertising stage itself. But that will deprive you of two things – a major measure of control, and the thrill of facilitating your own property sale.