There is far more to selling your house than just putting up a sign outside the front door. If you're struggling to stir up interest among potential buyers, it might be that there are a few issues to address before you and your property are really ready. Real estate transactions are big commitments, both emotionally and financially, so it's possible that you may be subconsciously setting up hurdles for potential buyers. Below are some common scenarios that can hinder a successful sale.
You have unfinished renovation work
A common dilemma facing people selling their homes is whether or not they should invest in home improvements prior to the sale. A key thing to remember is that although there are buyers out there who are looking for a project, they are in the minority. In addition, they won’t be prepared to pay high figures for these kinds of properties, which means you’ll miss out on the top prices. In order to maximise your property’s selling potential, ensure that any building and interior design work has been completed and any necessary updating has been done. Don't try to guess at the new owner's taste in interior decoration, as this can be time-consuming and expensive. Just complete any work that may distract buyers from your house's true potential and emphasise those aspects that inspired you to buy the house in the first place.
The price isn't right
It’s important to be realistic about the market in which you’re selling your house, as this will determine the current value of your home. Although it’s natural to want the best price you can get for your property, an incorrectly priced property simply won’t sell. Striking a compromise that ensures you get the most out of your investment without overpricing your house is vital, but it's not always straightforward to calculate this figure. Although the property pages of local newspapers will give you a rough idea of how much similar houses are selling for, ultimately you'll need to call in the experts to ensure that everything has been taken into consideration. A good real estate company will be able to advise you on your home's key attributes and flaws as well as current economic conditions, working with you to develop a strategy for pricing your house in the local market.
You're trying to go it alone
Only a very small proportion of private sales are successful. Tempted as you may be to market the property yourself, remember that your house will be competing against houses marketed by professional estate agents. Thanks to their specialised knowledge and negotiating skills, working with a trusted property consultant gives your house the best chance at a successful sale. Estate agents can also offer high quality marketing resources to give your property a competitive edge, in addition to an existing database of leads that can save you from time wasters.
Once you're sure you're ready to sell, there's no reason why the process shouldn't be professional, efficient and even enjoyable. From identifying the right price for your property, to effectively marketing it to potential buyers, Engel & Völkers are ideally qualified to provide you with all the expert advice and tailor-made assistance you need. For more information, just visit our E&V website.