It should be remembered that the real estate sales plan should cover the entire sales process from the moment of making the sales decision, by completing individual documents needed for the transaction, determining the real estate offer price, preparing the real estate for sale, creating the sale offer, promoting the offer on the market, presenting the property to potential buyers, negotiating the terms of the transaction, conclusion of the sale contract, up to activities related to the transfer of real estate to the buyer. Only experienced realtors know what surprises can be waiting for sellers at each of the above stages. The conveyancing specialist can be the best choice in these kinds of works.
A significant extension of the property sale process and the sale of real estate at a price below the market price are the most common consequences of the lack of an approved property sale plan. There are also situations in which ill-considered actions lead to the breakup of almost a certain transaction and, as a result, failure to achieve the intended goal of selling real estate despite the seller’s efforts for several years.
For sale, outside the property, the owner and any tenants must be prepared. One should not be under the illusion that selling real estate is a simple task. To avoid surprises, it is worth seeking assistance from an experienced specialist. Cooperation with a professional and reliable broker will allow us to avoid the mistakes that we describe in the following sections.
Incorrect real estate appraisal
Accepting an inappropriate property price is one of the most common mistakes made by inexperienced realtors and people trying to sell their property themselves. The appropriate offer price is derived from four factors: market situation, demand, the technical condition of the property and its location. Each bid should be considered when determining the bid price.
Too high a price from the very beginning will significantly reduce the number of potential buyers and will make similar properties for sale more attractive at the expense of our offer. As a result, the transaction will be impossible or, at best, the sales process will take much longer, which in the case of falling prices on the market may mean the inability to obtain the originally assumed price and measurable financial losses for the seller. If the offer price is too low, the sale usually takes place relatively quickly, but the seller unnecessarily loses part of his profit.
Only the people who work on a given market every day have the ability to precisely determine the optimal offer price. Active agents with at least several years of experience do it intuitively. It is worth seeking assistance from an experienced broker working in the area where our property is located. His adoption of the right strategy for selling real estate will not only allow for much faster sales but also will allow obtaining a higher price up to several percent, which will fully compensate for the need to pay a commission.
Submission of real estate to many brokerage houses
A common mistake of real estate sellers is to establish cooperation with several or even a dozen brokers. This is the result of the conviction that the more real estate agencies will be involved in the sale, the greater the chance for a quick transaction. Unfortunately, the effect is usually exactly the opposite.