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Avoid the 10 most common mistakes when selling real estate
Avoid the 10 most common mistakes when selling real estate
If you want to sell your property, mistakes should be avoided at all costs. Mistakes when selling real estate can cost you time and money – and that is the last thing you want to lose when you are trying to get rid of your property. We would like to draw your attention to some common mistakes that are frequently made when marketing real estate yourself.
Mistake No. 1: Prematurely marketing the property before doing your homework first.
Often without thorough Strategy and Planning published the property too early on the internet. It is advisable for the seller not to act too impatiently during stressful times such as a job change or family changes. Good preparation includes presenting the property in the best possible light from both the inside and the outside. It is equally important that all necessary documents for the sale are available and prepared in a sales-promoting format.
Mistake No. 2: Overlooking current liabilities
Here, you should also pay attention to the fine print in the contract with your financier. If you only realize late that the sale of your property due to a still pending Mortgage is not profitable for you, this can lead to considerable costs. Before offering your property for sale, it is advisable to also consult with your tax advisor.
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Error No. 3: Property pricing in relation to what the seller wants to receive
It is a doomed-to-fail strategy to rely solely on the price desired by the seller for the valuation. The seller can indeed suggest a price, but has no control over the price at which the property is actually sold. The market does. It doesn't matter what the seller wants, the price is determined by the market reality Definitely. Study the offers in your neighborhood.
Error No. 4: Hiring a real estate agent without prior detailed investigations into their working methods and references can be problematic.
Ask the Real estate agent, how he would proceed with the marketing of your property. How does he process the apartment documents, does he also accompany you to the notary, and does he also carry out the handover? It is important to clarify who pays the commission.
Error No. 5: Unprofessional property photos
As is well known, pictures speak louder than words, so one can look forward to well-taken photos cannot do without under any circumstances. With that Your property in the best light appears, the rooms to be photographed should be thoroughly cleaned up. Borrow a professional camera and use a wide-angle lens for the interior shots. Technique plays an important role in ensuring that windows in interior shots do not appear either under- or overexposed. It is recommended to take the pictures in daylight and with as bright sunshine as possible. Also take pictures of your street and surroundings. Pictures of poor quality or with unfavorable image symmetries simply deter most prospective buyers and thus cost you hard-earned money and time. People should not be visible in the pictures as they are too distracting.
Error No. 6: Lack of availability
Many real estate sellers underestimate accessibility. Constant accessibility and time for detailed conversations with the prospective buyers are a prerequisite for real estate brokerage. It is strongly advisable to ensure that you are always easily reachable through all communication channels – whether by phone, email, or fax.
Error No. 7: The seller has an emotional attachment to the property sale.
For sellers who have lived in the property since childhood or have lived there for a very long time, this represents one of the biggest challenges. As soon as you, as the owner, decide to sell the property, the home essentially becomes a commodity. Similar to selling a car, the property must be prepared as a commodity for marketing.
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Error No. 8: Rounded-up living space figures
How large is the condominium? If the floor plan in the architect's plan indicates 128.60 m², you should under no circumstances round up. If the potential buyer discovers this flaw, they could use it as an argument to lower the price. In addition, they could lose trust in you, which must be avoided at all costs.
Error No. 9: Unfavorable viewing times
Have you already given thought to the best time of day for viewings of your property? This depends very much on the location. To present the west-facing garden in the best possible light, it is advisable to invite prospective buyers to a viewing preferably in the late afternoon. Conversely, for an apartment with an east-facing balcony, a morning appointment should be preferred in order to show it off to its best advantage.
Mistake No. 10: Concealing problems or failing to inform prospective buyers about them.
It is urgently advised against covering up defects in the property, as this is never worth it. Furthermore, it is important to know at what point in time problems should be addressed. The discovery of defects by the prospective buyer, for example through the involvement of an expert, can significantly impact price negotiations and undermine trust in the seller. The prospective buyer will naturally also wonder if there are any other hidden defects of which they are currently unaware. If you have any questions about selling your property, please do not hesitate to contact us. We are at your disposal at any time and are happy to support you. Here you can find information about our real estate sales service.
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