Selling real estate privately: Child's play?
Many owners believe their property will sell easily due to the current high demand. However, this assumption often proves incorrect. Laypeople often lack the necessary expertise to determine a property's current value, frequently missing out on significant potential earnings. Even worse, they may not find a buyer at all, find themselves under time pressure after months of marketing, and ultimately be forced to sell the property below market value.
A professional valuation is the fundamental prerequisite for a successful property sale. The price should be neither too high nor too low. Those who don't deal with this on a daily basis don't know how factors such as location, plot size, living space, type of property, features, year of construction, renovations, structural alterations, and various special characteristics, taking into account the current market situation, affect a property's value.
Missing documents prevent property sale
Furthermore, various documents are required for the sale of a property. For example, if the energy performance certificate is missing during the viewing, a fine of up to €15,000 may be imposed. A land registry extract, building plans, a cadastral map, and several other documents are also required for the sale. If these are not available, they must first be requested from the various offices and authorities, which is very time-consuming and unnecessarily delays the sale.
Anyone who wants to present their property professionally should create a compelling property listing. A well-written listing will attract the right potential buyers for your property. This saves the owner unnecessary emails, phone calls, and viewings. Because the listing already contains all the essential information, it clearly indicates whether the property is suitable for, for example, young families, seniors, or investors. This ensures that only the right target group contacts you from the outset.
Mass tours? Please, no!
Individual viewings or group viewings? Group viewings save on many individual appointments. But do you really want large groups of people walking through your property, especially if you still live there? On the other hand, working professionals often don't have enough time to conduct numerous individual viewings.
If several prospective buyers express interest in purchasing a property, owners face the question of how to select the right buyer. This requires, among other things, checking the creditworthiness of the interested parties. Furthermore, prospective buyers often try to negotiate the price down before the contract is finalized.
You could certainly handle each of these steps yourself, but for professional real estate agents, this is their daily business. A professional agent knows what's important when evaluating a property, which documents are essential for the sale, and how to attract the right potential buyers with a compelling property listing. They can optimally organize viewings and conduct the viewings themselves, and have the necessary experience to select a suitable buyer and then negotiate a fair price.
Would you like a free, no-obligation consultation regarding the sale of your property? Contact us. We'd be happy to help.
You need more information:
https://de.wikipedia.org/wiki/Immobilie
https://de.wikipedia.org/wiki/Immobilienmarkt
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: © Yaruta/Depositphotos.com
About the author
Harry Mohr
Real estate agent (Chamber of Industry and Commerce)Harry Mohr, author of this article
