Trying to sell a property in cities like Berlin requires a lot of expertise and marketing skills. More so, if you are not into real estate, selling your property by yourself could be a big challenge.
However, there are several common mistakes most first-timers make when selling a property in Berlin, Germany. Even though these mistakes might not seem like a big deal, they will cost you a lot.
In some cases, these mistakes might prevent you from selling your property in Berlin, Germany successfully. Discussed below are the five mistakes you should avoid when trying to sell a property in Berlin, Germany.
1. Putting Up your Property for Sale Without Proper Research
This is a mistake most people make when trying to sell a property. They list the property for sale without carrying out proper research on what to do and expect. When they do this, they won’t know the exact market value of their property or how to transfer it to the new owner. In addition, they won’t know the questions to expect from prospective buyers and how best to answer them. Listing your property for sale without knowing how the process works is a mistake you should avoid.
2. Assuming you Know the Exact Value of your Property
You bought your property at a certain price and after so many years; you expect its value to appreciate. With this thought in mind, you go ahead to put a much higher price tag on your property. When you do this, you may be setting a price that is above or below the current market value of your property. This is a mistake most property sellers in Berlin, Germany make. Every investor aims to make a profit. However, you must know that it is not every investment that yields profit. That is why you are advised to know the current market value of your property instead of making assumptions.
3. Not Engaging a Real Estate Agent
The importance of a real estate agent is mostly overlooked when it comes to selling a property. While this may seem like a good idea, it is a mistake you should try to avoid at all costs. Hiring a professional real estate agent to take charge of the entire process is worth the money. Not only will he save you time and stress, but he will also promote the property himself and draw up the contract. In addition, he will be able to provide you with helpful tips so you can make the most out of your investment.
4. Publishing the Ad Yourself
Another mistake you should avoid when selling a property is trying to publish the ad yourself. Even though publishing the ad in a local newspaper or magazine may seem cost-effective, it will cost you a lot. This is because publishing the ad yourself will have you setting the price. Besides, your valuation of the property may be wrong since you are not a professional estate valuer. Secondly, you might not know the right platforms to publish your ad. As a result, you might lose your potential customers. Instead of trying to publish the ad yourself, rely on a real estate agent to do it for you.
5. Showing your Property to Prospective Buyers Yourself
No one knows your property as you do. However, showing your property to prospective buyers yourself is something you shouldn’t do. This is because prospective buyers tend to ask a lot of questions when viewing a property they are interested in. Some of these questions include how much it will cost you to renovate a certain area of the property. Inaccurate answers to questions asked by prospective buyers can discourage them.
Tips to Help you Sell your Property in Berlin, Germany
Want to sell your property successfully in Berlin, Germany, without wasting time?
1. Ensure your Property is in the Right Condition
Before putting your property up for sale, ensure that it is in the right condition. If your property is looking neglected, you won’t be able to sell it regardless of the market value. So, the first step to selling your property is ensuring that it is in the right condition. You can visit the property with a real estate agent to put it in order. Interestingly, if your property is in excellent condition, you will be able to sell it far above the market price.
2. Use a Reputable Real Estate Agency
The importance of a reputable real estate agent when selling a property in Berlin, Germany, cannot be overemphasized. If your property is in a small town, you can sell it successfully without the help of a real estate agent. However, for a property in a big city like Berlin, you need a real estate agent to sell successfully. A real estate agent won’t only appraise your building for free but will help to promote it on an international level.
3. The Price Should be Fair
When setting the price of your property, you need to carry out proper research. You can visit property evaluation platforms in Berlin, Germany, and search for the price of similar properties. Alternatively, you can ask for the opinion of your real estate agent as to the market value of your property. Setting the price of your property far above the market price will chase prospective buyers away.
Selling a property in Berlin, Germany, is a difficult process. You might make a lot of mistakes that will prevent you from selling that property. Now that you know the mistakes to avoid and the tips to help you sell successfully, there is no need to worry. Even if you are outside Germany, First CITIZ Berlin is a real estate agency you can trust to help you sell your property. Finally, there would be no need to ask How much is my home in Berlin worth? if you engage thor services. In other words, engage First CITIZ Berlin for their full service to sell your home in Berlin.