Are you selling an apartment for too long? Here’s where the mistake is
It is often the case that the owners of an apartment or other real estate, shortly after the decision to sell, independently place an ad on one of the real estate advertising portals, with a price that suits them – but the sale fails.
In the beginning, during the first few weeks, there are usually phone calls, but over time the interest fades, and later it disappears completely. Even after lowering the price, there are often no serious buyers.
The question that arises is – what is the problem?
To begin with, the longer an apartment is advertised, the less attractive it becomes to potential buyers. Buyers remember such ads, often skip and avoid them, even when they later receive a realistic and affordable price.
We have highlighted the most common mistakes and important facts that should be kept in mind when selling an apartment.
Starting price too high
The last few years have seen an increase in real estate prices, which is why sellers often have difficulty realistically assessing the value of their apartment. The logic of “we will set a higher price and lower it later” often does not give results in practice.
If the starting price is too high, it often happens that there are no interested buyers at all. In that case, potential buyers turn to more affordable and realistically positioned real estate.
Bad photos of the apartment
Bad photos significantly reduce the interest of buyers because they do not allow them to have a clear view of the property. Without quality photos, potential buyers often won’t even call to schedule a viewing.
Photos should be:
- clear and high resolution
- horizontal
- adapted to all screen sizes
Before photographing the apartment, it is necessary to adequately prepare it:
- remove personal belongings (clothes, bags, dishes, food, packaging)
- ensure orderliness and good lighting
You don’t need to photograph the rooms through the door – enter the room and take pictures of it from several angles.
If you are not good at photography, this job is best left to the professionals.
Poorly presented apartment on portals
Apart from the photos, it is extremely important where and how the ad is placed. Specialized real estate portals with high traffic, as well as relevant Facebook groups, are recommended.
If the response is poor, check:
- whether the ad text is clear and precise
- does it contain all the important information
- whether it is attractive and understandable to potential customers
Communication with potential customers
Selling an apartment requires time, patience and constant communication. If you are not able to answer the phone regularly, give detailed and courteous answers, and arrange viewings, you will miss out on a lot of sales opportunities.
Of course, not all invitations are serious, but potential customers should be carefully selected.
If you don’t have time or experience, communication with interested parties is best left to a licensed real estate agent .
Unwillingness to negotiate the price
Negotiation is an integral part of sales. Most buyers expect the advertised price to be the starting price. In practice, the price is often adjusted by about 5%, and sometimes more, depending on the market, the condition of the apartment and additional amenities (furniture, appliances, etc.).
The skill of negotiation requires experience and knowledge of the market, which is often a challenge for owners.
Lack of documentation
Most buyers give up on apartments that are not registered. Real estate without proper documentation cannot be purchased through a housing loan, and the buyers themselves are wary of potential legal problems.
Before selling, it is important to:
- check the validity of the documentation
- complete the registration process
- remove all legal obstacles
Properties that are not registered in the Cadastre, but have complete documentation, can be sold, but often at a lower price.
Where is the solution?
If you want to sell the apartment within a reasonable time (usually two to three months), it is recommended to leave the sales process to professionals.
Nikolić real estate agency from Šabac offers its clients:
- free real estate valuation
- free legal advice
- complete support during sales
Experienced agents will guide you through the entire procedure, give advice on preparing the apartment, professionally photograph it and present it on the most visited portals and social networks.
Agents take over communication with buyers, organize viewings, select serious offers and negotiate the price for you.
The sale is carried out according to plan, fast and legally secure, with the engagement of an agency lawyer who prepares the pre-contract and the sales contract.
The signing of the contract, the down payment and the payment of the purchase price are performed in the presence of a licensed real estate agent.
