9 Tips for Selling Your Property
Here is a practical list of tips to make it easier for homeowners with trouble selling their property.
Wait for the right time
On the seller’s side, the suitable period is the one during which there are:
– a lot of buyers;
– a small number of similar properties on the market;
– attractive interest rates.
If the situation is not urgent, it is better to wait for a favourable economic situation than to sacrifice your property.
Pricing your property wisely
Determining the right price will allow the seller to complete the transaction as quickly as possible without selling off the property.
Indeed, it is essential to keep in mind that today’s buyers are very well informed thanks to the hundreds of real estate ads available on the Internet.
For a fair determination, the seller must take into consideration 2 criteria:
– the geographical location of the property;
– its condition, its situation: is the property dilapidated? Is it on the first floor? Does it have a garage?
By proceeding this way, the seller multiplies his chances of receiving numerous telephone calls.
Good to know: if the seller finds this task difficult, he can always call in a real estate expert.
Please note: when selling a property, it is necessary to establish the property’s real value. This value is determined by considering the value of similar properties for sale. The tax authorities can compare similar properties as a whole and not identical or “intrinsically similar” ones to determine the property’s actual value. If the property is sold at a lower price, the tax authorities have the right to demand a correction, as the price agreed upon is used as the basis for calculating taxes.
Do not give exclusivity to a real estate agency
The major risk of the exclusive mandate is that the seller finds a “bad” agency that lets the deal drag on. Another weak point: the seller who succeeds in selling the property by his own means will still have to pay his commission to the agency.
On the other hand, giving several mandates to several agencies will multiply the sales opportunities by creating competition.
Good to know: if the exclusive mandate has already been signed, the seller, to be reassured, can always ask the agency for reports on visits at regular intervals.
Providing the real estate diagnostics
The fact that the seller gives the potential buyer the mandatory technical diagnoses, as of the first visits, is an asset in convincing him.
– Indeed, the buyer will have indications on the state of the property and on the possible improvements to be made.
– Buyers are particularly attentive to the energy performance diagnosis.
Insist on the attractions of the neighbourhood
The location of the property, the fact that it is well-served, the proximity of shops or schools, and the tranquillity of the neighbourhood are essential elements for potential buyers.
The seller should emphasize the pleasant nature of the neighbourhood and may even recommend shops and restaurants.
Do not hide the defects of the housing
Every home has its flaws, more or less significant.
Instead of trying to hide them at all costs, it is better to think about how to put them into perspective. By being transparent about the home’s shortcomings, the seller will create a relationship of trust with the buyer, who will appreciate having been warned.
Do not neglect the crucial step of the visit to the property
First, it is advisable to choose an appropriate time to visit the property, i.e., when the property benefits from the best sunlight.
Another important point is to be prepared to answer the visitor’s questions, such as the surface area of the land, the size of the rooms, the work done, and the amount of local taxes.
And above all, don’t rush the visitor during the visit, but let him get to know the property by himself.
Think about home staging
Faced with the increased difficulty of selling a property, a technique born in the United States in the 1970s has become popular: home staging.
The seller who resorts to home staging will “prepare” his property to please the greatest number of people. To do this, he will:
– depersonalize it;
– de-clutter it;
– reorganize the space.
Remain available to the potential buyer
The seller must provide the buyer with as much information as possible about the property he/she plans to buy (for example, give him/her a copy of the co-ownership rules).
Finally, the seller must be cordial and available to the buyer who has omitted specific questions during the visit and even proposes a second visit to reassure him.