To ensure everything runs smoothly during the marketing process: only use a real estate agent
Many property owners believe that selling their property is practically done once they place an ad on the well-known real estate portals. However, it's not that simple. From setting the wrong asking price to using uninformative property photos – there are a number of things property sellers need to consider. We've summarized a few for you.
The price is set too high
Property sellers often believe that their property can be easily valued using an online appraisal tool. They frequently forget that these online tools only provide a guideline. An optimal property valuation also includes an on-site inspection. Online valuations are based on similar properties in similar locations, regardless of the property's condition. Once the property has been valued online, sellers often add an extra €1,000 as a precaution in case the potential buyer wants to negotiate. The result is a asking price that doesn't reflect the property's true value and is far too high. This is a big mistake. Potential buyers know exactly what they can expect for their money, as no one takes buying property lightly. Setting the price too high unnecessarily prolongs the sales process. In most cases, the property ends up selling for a significantly lower price than what a real estate professional would have calculated.
Poor marketing of the property
With demand for real estate remaining high, many sellers believe they don't need to do much to market their property. A note on the nearest lamppost and an online ad will surely attract the necessary interested parties. However, such marketing can backfire badly for the seller. For one thing, in particularly sought-after areas, the phone might ring off the hook. And although there seems to be a lot of interest, only a few are serious buyers. The property becomes a popular destination for casual visitors.
In regions with lower demand, it can happen that hardly any interested parties are found because the notice on the lamppost goes unnoticed. A real estate professional takes over the viewing management for you and separates the genuinely financially sound prospective buyers from the casual viewers in advance.
Owners often forget that some sales documents are legally required. For example, anyone without an energy performance certificate can expect to pay a fine. Professional real estate agents compile all the important information for their clients and ensure that the property is well presented on the online portals.
Don't have time to handle the professional marketing of your property? Contact us now. We'll gladly take care of it for you.
You can find more information here:
https://www.ratgeber-verbraucherzentrale.de/bauen-wohnen/immobilienverkauf-46009045
https://www.finanztip.de/haus-verkaufen/
Legal notice: This article does not constitute tax or legal advice for any specific case. Please consult a lawyer and/or tax advisor to clarify the facts of your individual situation.
Photo: © pogonici/Depositphotos.com
About the author
Harry Mohr
Real estate agent (Chamber of Industry and Commerce)Harry Mohr, author of this article
