5 Secret Ways to Make Money on Your Home

Posted by Wei Min Tan on October 30, 2017

Publication:  Go Banking Rates


Summary:  Wei Min Tan and other experts weigh in on how to make money from your property.  This includes setting a welcome stage, removing unpleasant smells and a quick kitchen renovation.


Wei Min’s comments in article:  

1. Set a Welcoming Stage for Buyers

Simple changes can help set the scene for a sale and make a space appear especially welcoming and irresistible to potential buyers, said Wei Min Tan, a real estate associate broker and Manhattan condominium buyer’s broker at Rutenberg: The Smart Brokers, based in Manhattan. To accomplish this, he suggested removing clutter, minimizing furniture to make an area look more spacious and displaying fresh flowers.

Adding a welcoming, yet light scent can also energize potential buyers. Lemon is a good natural choice, he added. In fact, a study of essential oils by the National Center for Complementary and Integrative Health found that “lemon scent had a positive effect on mood regardless of expectancies or previous use of aromatherapy.”

Posting a home for sale on websites such as Zillow.com or Trulia.com is the easy part of selling. “The sale happens during the actual showing,” Tan said, adding that being friendly with the buyer also helps set this welcoming stage. “You want to connect with the buyer, figure out what motivates the buyer and talk about those things.”

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About Wei Min

  • Focuses on investors of Manhattan condominiums, interviewed by CNBC, CNN, Wall Street Journal, New York Times
  • Ex-Citibanker, managed $500 million portfolio
  • MBA, University of Illinois at Urbana-Champaign
  • Manhattan resident since 1999. Currently lives in Tribeca with wife and 2 kids
  • 352 burpees in 23 minutes, student of muay thai kickboxing

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