The Biggest Mistakes When Selling a Property!
Selling a property is often not as straightforward as one might initially imagine. It is a complex subject and mistakes can happen quickly, without these…
Before you start marketing a property, you should think about your options.
On which platforms would you like to list your property?
Where do you get appealing photos from?
At what asking price do you enter the market?
Which documents are required?
These and other questions should be clarified in advance.
4M Immobilien lists your property on over 60 platforms. Since pictures say more than 1,000 words, your property will be presented in the best possible light through professional photos. Prospective buyers decide within just a few seconds – based on the images, the headline of the listing and the price – whether your property sparks their interest or not.
Setting the right asking price is one of the most important prerequisites for a successful property sale. Naturally, the seller wants to achieve the highest possible sale price for their property, while the person looking to buy the apartment wants to pay as little as possible. This is where the current market is decisive. What alternatives does the property market offer the buyer? New apartments are listed every day and prospective buyers regularly compare the available offers. Therefore, the focus should not be placed solely on one's own property.
Source: Immobilien Profi No. 85/2016, iib Institut Dr. Hettenbach GmbH
The illustration shows what consequences an asking price set too high can have. Statistics show that marketing the property takes considerably longer and often results in a lower sale price in the end. The reason for this is as follows: a price set too high deters many prospective buyers, causing them to look at other properties. Properties that have been on the market for a long time raise doubts among interested parties. Ask yourself: would you want to buy a property that is overpriced and has already been on the market for several months? Put yourself in the shoes of the prospective buyer.
When a price is set below market value, it leads to high demand and prospective buyers look to outbid one another. As a result, a higher price is usually achieved at the end of the day and the marketing process proceeds considerably faster.
With the help of a free valuation by 4M Immobilien, we determine the true value of your property. We are also happy to carry out this market value analysis together with you, so you can see how the market value is composed. This generates high demand and prevents your property from appearing unattractive from the outset.
It is often assumed that the marketing process will proceed smoothly and quickly. However, the reality is quite different. The many enquiries need to be answered and the requested documents prepared. Appointments need to be planned and carried out. You are often limited for time during the week due to work commitments, meaning that many viewing appointments fall on your free weekend. This is also challenging if you live elsewhere and have to make the journey for each individual viewing appointment every time. Being constantly reachable in order to be available for interested parties and to answer their questions is essential for successful marketing. If enquiries are not answered promptly, the prospective buyer will already have requested viewing appointments from the competition.
Care should be taken to ensure that the information stated in your exposé or otherwise communicated is also accurate. It starts with the number of square metres: if these are stated as higher than they actually are, it can become costly. Many sellers do not know whether their apartment is subject to the Tenancy Law Act or not. If this is the case, the prospective buyer must be informed. The matter of being free of encumbrances and financial charges should also be clarified in advance. Are there any prior encumbrances, easements, liens, etc. registered in the land register? How high are the monthly repair reserve contributions and what is the current total of the repair fund? An energy certificate no older than 10 years must be presented to the buyer; otherwise, a fine of up to €1,450 may currently be imposed. These and many other points must absolutely be taken into account.
As you can see, there are many points to pay attention to when marketing a property. The illustration below provides an overview of the individual steps involved in property marketing.
For further questions and information, please feel free to contact me: Lydia Litau [email protected] +43 678 1283831 https://4m-immo.at/
A specific question about your property?