How to stay ahead of the property market?

Muscat: With the recent fall in rents, occupancy levels and sales, there has been much negative press surrounding the real estate market. However, one of the front-runners in Oman’s real estate market – Hamptons International — has a more positive story to tell. Being 10 months into one of their best performing years in recent history and riding on the recent success of having bagged and completed a number of prestigious projects, Hamptons International shares with us their success stories to help illustrate the great potential in the Oman real estate market, and also offers some tips in getting the most out of your investment.
Daniel Sellu, Head of the agency, tells us more. “Over recent years, we have strived to offer a consistent high quality service. We pride ourselves on meeting targets that we propose to clients on large-scale projects and completing leasing and sales services before moving onto the next one. Innovative marketing techniques and a proactive attitude have enabled us to reproduce our success in many projects over the years.
“We are recognised for our creative sales and leasing ideas which have ensured continued success for our landlords with high occupancy levels and impressive sales figures. Our sales and leasing teams have consistently performed in the real estate market even through recent hard times which is an example of the great potential that lies within the Oman market.”
The Hamptons team shared their top tips when selling or renting a property in Muscat:
Correct pricing is essential
Do your research over the market and find out what else is available to both buyers and tenants. You will want to get the most out of your property but at the same time you will need to price it correctly to ensure it is desirable in the market.
Be pro-active
There is a good demand in the market for good quality properties. Make sure the property is clean and presentable and well maintained. Where prices have fallen it is important that your property is the best it can be. Seek the most efficient ways to find buyers or tenants for a property whether it’s through an agency, newspaper advertising or online but don’t just sit back and wait for people to come to you. The traditional methods of simply placing a "For rent" or "For sale" board may not be enough in this market. The Hamptons team’s successes have come from going out there and finding buyers and tenants, not just by waiting for them to come to us.
Innovation
Although this could fall under the pro-active section, innovation is so important, it deserves to stand alone. Innovation in sales and leasing covers not only potential new marketing techniques to reach changeable target markets, but critically we must consider new contractual and payment terms etc. This is an area where, as professionals, we excel.
Seek advice if required
When in doubt, speak to the professionals. When selling or renting a property, half of the job is finding a tenant, the other half is negotiation, ensuring good contracts and terms are in place to protect all parties. Transparency is essential and good relationships should be maintained. The Hamptons agents are on hand to offer our landlords and sellers market advice, as well as offer advice on maximising returns for property portfolios.