14 Tips For Selling Your Home: Advice For More Success

14 Tips For Selling Your Home: Advice For More Success - In order to sell your property without difficulty and for a fair profit, you should follow some helpful tips.

We have arranged these for you according to the preparation phase, sales phase and sales process, so that you always know which steps are currently important for you. Even a good realtor can provide tips on home sales in your area.

Use these important tips and tricks to develop your optimal and successful sales strategy for your house and condominium.

 

The Essentials in Brief

14 Tips For Selling Your Home: Advice For More Success

The Essentials in Brief:

• Allow enough time to prepare for the property sale.
  
  
• Prepare thoroughly for viewings and price negotiations.
  
  
• Check the buyer's creditworthiness and do not hand over the keys until the purchase price has been paid.
  
  
• A good broker will get you a good selling price. Our service: We recommend three good brokers in your region.

 

1. The Preparation

Photo by Dillon Kydd on Unsplash

Tip 1: Take Your Time

Before you sell your house, you should invest time in the necessary preparatory work and organize the sale with foresight. Do not underestimate the scope of your project. Because selling real estate is complex and specialist knowledge is required.

Selling under time pressure always has a negative effect on the selling price. Obtaining documents from authorities can sometimes take several weeks.

With the help of a marketing concept, you can check in the ongoing sales process whether your measures are developing favorably or whether adjustments need to be made.

 

Tip 2: Set Your Goals Precisely

First, ask yourself a few basic questions about your goals:

• What sales price am I aiming for?
  
  
• Do you still have to repay a loan?
  
  
• By when should the purchase price be reimbursed?
  
  
• Do I need the sum to finance a new property?
  
  
• Which furnishings do I want to sell (kitchen, furniture, sauna, ...)?
  
  
• When can the move be completed at the earliest?
  
  
• What is a realistic and appropriate time to sell?
  
  
• Is there a seamless transition between moving out of the old and moving into the new property?
  
  
• Can I not imagine certain uses and renovations after the property has been sold?

 

Tip 3: Develop A Feeling For The Right Selling Price

Anyone who overestimates the value of their property in the purchase price directly discourages potential buyers. If you underestimate the achievable value, on the other hand, you make a loss. Scientists have shown that a moderate starting price of around five percent above the target value is most effective for average properties. Also, remember to allow some room for negotiation.

Decisive factors for determining the price are:

• The location, the city and the district
  
  
• The property size and orientation
  
  
• The standard land value, i.e. the value for one square meter of undeveloped land
  
  
• The current use (is the property free or rented?)
  
  
• You can find more factors on our appraisal page.

 

Tip 4: Up To 30 Percent Higher Sales Price For Unlet Real Estate

As a rule, you can achieve a sales price of up to 30 percent higher for your property if it is not let. For this reason, you should, for example, use a tenant's move-out to sell your property more lucratively. To do this, involve your tenants in the house sale in good time.

In some cases you have an obligation to inform your tenant when you sell your home. Your tenant may be interested in buying the apartment himself.

 

Tip 5: Right Decision: Self-Marketing or Broker?

Many people underestimate how time-consuming and costly it is to successfully sell a property. It also requires expertise that laypeople normally do not have.

If you are able to conduct a market analysis to estimate the selling price, take professional photos, place advertisements, design an exposé, conduct purchase negotiations with prospective customers and coordinate viewing appointments, you do not need a broker.

However, if you feel a little overwhelmed by this list (which is quite normal), we recommend that you seek the support of a professional realtor for a successful and uncomplicated property sale.

Selling with brokers - your advantages:

• Good selling price!
  A good broker will get you a good sale price.
  
  
• More safety!
  A good broker checks the creditworthiness of potential buyers early on.
  
  
• Time saving!
  A good broker sells your property faster.

 

Tip 6: Compile All The Necessary Documents At An Early Stage

Questions from prospective buyers can be answered more quickly and more precisely if you have all the information together. With complete documents, the broker can also create a high-quality synopsis, which simplifies the search for interested parties and the negotiations.

The sooner you have all the documents ready, the easier it is to process the sale.

A detailed checklist of the required documents with details of the sources of supply can be found on our Documents page.

Tip 7: Make Your Property Shine

When viewing, but also with the photos for the synopsis, the following applies: The first impression counts! Accordingly, you should get your property in top condition both inside and out. First, create order and cleanliness and clear out dark corners.

Then carry out the necessary repair work and maintenance. By decorating in an appealing but neutral way, you create the right atmosphere.

If necessary, get professional help for so-called "home staging", which means the visual and emotional enhancement of a property. Also, remove personal furnishings such as photos and paint the walls white so that prospective buyers can imagine how they would furnish the home.

 

2. The Sales Phase

Photo by fran hogan on Unsplash

Tip 8: Professional Exposés And Online Presentations are Becoming More and More Important

Create an appealing synopsis with professional indoor and outdoor photos and texts that highlight the positive aspects of your property. Include clear floor plans and a city map with the existing infrastructure.

For the photos, you should make sure to photograph your property when the weather is nice and the vegetation is ideal. Snow or seasonal decorations should not be seen, nor should any references to current residents of the property be appropriate.

By having the exposé designed by a specialist, you guarantee an effective advertising appearance. It is important that you do not hide any defects and at the same time present your property from its best side. Distribute the synopsis to potential buyers.

By placing advertisements in newspapers and on popular Internet portals, you can reach an even larger target group.

Our tip for preparation: A realtor can relieve you of a lot of work and advertise your property efficiently and, above all, effectively.

 

Tip 9: Prepare Yourself Optimally For The Viewing Appointments

Take the time to prepare and present your property in a pleasant atmosphere. This should be tidied up, depersonalized and in the best possible condition. Paint the walls, decorate with some fresh flowers, and ventilate well before visiting.

You should also prepare for the interview. From the very beginning, try to understand the buyer's motivation to buy in order to optimally present the advantages of the property. But don't hide any shortcomings either.

This openness creates trust and can have a positive effect on sales negotiations. Have all the necessary documents such as floor plans ready in a representative form and have all the important key data such as the amount of the ancillary costs in your head.

 

Tip 10: Don't Let Yourself Be Determined Too Quickly When Negotiating Prices

Before negotiating, you should make a note of your absolute lower price limit and your target price. Do not go into price negotiations too quickly; take your time. If necessary, ask for a little time to think about it and do not let yourself be pressured into a decision.

Successful selling requires experience. Before the first sales pitch, you should run through a possible course of conversation with friends in order to gain confidence and routine. It is also important that you remain calm.

First listen to the prospective customers - this will tell you what buyers want and can place sales arguments more specifically. When your bargaining power is exhausted, you can refer to the inventory and offer components as a bonus.

3. The Sales Process

Photo by Gabriel Gonzalez on Unsplash

Tip 11: Check The Solvency Of Your Buyer

To avoid unpleasant surprises after the sale of your property, you should check the solvency of your buyer. For example, you can ask the potential buyer to submit a self-assessment. A so-called “credit check” gives you a realistic risk assessment.

 

Tip 12: Take Enough Time To Draft The Sales Contract

When you have found a suitable buyer for your property, draw up a sales contract that is to be certified by the notary. Work out the draft thoroughly, because the content of all agreements that have been discussed with the buyer should be reflected in the sales contract.

If you are uncertain or have any doubts about the draft sales contract, let an expert advise you. Subsidiary agreements that are not notarized are ineffective and may even lead to the nullity of the entire sales contract.

Before the contract is concluded, there is usually a preliminary meeting with the notary, during which you will be informed which documents and information must be compiled as a basis for the purchase contract.

Tip 13: Use The Neutral Advice Of A Notary

If you have any questions about the purchase contract, you can always obtain neutral expert information from a notary in advance. Due to the great economic importance of the conclusion of a sales contract, it is the task of the notary as an official to advise buyers and sellers independently.

With its help, serious consequential damage for both sides can be avoided in advance. Further details can be found on our Notary Contract page.
 
Note: The notary is obliged to advise you independently and neutrally

The sale of your property only becomes legally valid and concluded after it has been certified by a notary. The buyer usually chooses and instructs the notary.

 

Tip 14: No Key Handover Without A Refund Of The Purchase Price

Before handing over the keys to the buyer, the buyer should have refunded the full purchase price. In some cases, setting up a notary's account to process the property sale can be helpful.

The notary is responsible for ensuring that the property rights are not transferred to the buyer until the purchase price has been received in the notary's escrow.

Note: If, for example, walls in the property were damaged during previous renovations or other unforeseen problems occurred, the buyer can withhold the purchase price. As a seller, you have to pay for the costs incurred.

During the handover of your property, you should draw up a handover protocol and hand over all documents belonging to the property, such as construction drawings, etc. to the buyer. 

Related Video: 14 Tips For Selling Your Home: Advice For More Success

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