It might be difficult to sell a home during a financial crisis or difficult personal time. You’ll need a lot of patience, as the Tinsa appraisal firm reports that the typical property sale takes 7.5 months from start to finish. Transferring property is a time-consuming and potentially confusing procedure that is often derailed by carelessness. For this reason, caution is warranted, and nothing is more useful than learning the tricks of the trade for selling an apartment and the pitfalls to avoid. Agents and homeowners, please read this!
Seven pitfalls to avoid when selling an apartment
Hope for a flood of bids.
Because they anticipate a flood of inquiries about their apartment, many owners pass up the first offer they receive in the hopes of getting a higher one. A excellent proposal could be lost if you follow this procedure out of greed. Those that initiate contact are likely to be the most invested, so it’s important to treat them with the respect they deserve and see if you can reach a compromise with them.
Charge an unreasonably high amount
Future homebuyers can do a lot of research on the Real Estate market now. They can learn about the many housing options in the country and research apartment prices by region thanks to websites like Idealista and Fotocasa. Consequently, you should be practical and adjust the price to reflect the property’s true market value.
Overpricing a apartment is a common mistake made by sellers, as it does little to attract buyers and might even turn off those who might be interested in the property if the price was lower.
Do not market the property properly.
Regarding the Internet once again, it has developed into a great platform for advertising available apartments. You should offer your home for sale on the most popular real estate websites, as this will attract more potential buyers. Hanging a standard “For Sale” sign or displaying a technical sheet about the property in your office window also helps. The adage “the more sugar, the sweeter” certainly applies here.
Maintaining damage or a breakdown
Before listing your home for sale, it’s a good idea to perform a quick maintenance check to make sure everything is in good shape. Fixing little things like a stuck blind, a window that doesn’t close properly, or a dripping faucet can prevent a possible buyer from passing on the house altogether, or at least offer them leverage in a price negotiation. One of the most common mistakes people make when trying to sell their apartments is to ignore minor cosmetic issues like these, even if doing so can net you serious rewards when it comes time to sell.
Being less open to scrutiny
You must first work on the assumption that the property is already what it is. This means that you shouldn’t exaggerate the features of your home or tell fibs in your real estate ads, since potential buyers would see through any deception and lose interest. In terms of knowingly concealing crucial details, it’s the same. If you’re trying to figure out how to sell an apartment, the more information you can provide in the form of photos, videos, and written descriptions, the better. Advertisements that lack images or provide little detail tend to garner fewer clicks.
Very sentimental decor
Used houses often retain a distinct style of interior design that was tailored to the original homeowners’ preferences. Hence, before a house is placed up for sale in the United States or elsewhere, it undergoes a process called Home Staging, in which its unique characteristics are eliminated and it is furnished in a generic style to appeal to the widest possible audience, a large number of people. Although it may be costly, it is best to get rid of the things in the apartment that are likely to deter a buyer, such as photos of the owners, particularly personal decorative artifacts, colored furniture, etc.
Avoid getting help from a professional
Many people, in an effort to cut costs, forgo the services of real estate agents in favor of selling their homes independently. Those unfamiliar with the industry should think twice before making such a move, as doing so can result in disastrous consequences due to the need of adhering to all applicable laws and regulations.
Hence, it is practical to seek the assistance of real estate professionals, who can advise you on the current market conditions and help you make a profitable sale. Engel & Völkers is confident in our ability to assist you and would like to offer our services to aid in your sales endeavors. You’re welcome to get in touch with us and have a chat if it sounds interesting to you.
✔️ Telephone: +34 966 93 72 56 | +34 965 50 81 81
✔️ Email: altea-calpe@engelvoelkers.com | moraira@engelvoelkers.com
✔️ Address: Carrer la Santamaría, 8, 03710 Calp, Alicante | Aveniguda de la Paz, 23, 03724 Moraira, Alicante