What mistakes do property sellers make?

Property transactions are a lengthy process that requires experience, savoir-faire and knowledge in several fields. Property sellers often act carelessly or in a hurry. Find out what mistakes property sellers make. Once you know them, you will avoid unnecessary corrections and misunderstandings.

Step one – valuation

One of the first tasks for anyone selling a property is to value it. Contrary to appearances, many mistakes are made here. Often the only step we take is to check the prices of similar properties. It is an important step, but it should serve only as a guide, not as the main yardstick. Other factors matter too, such as the attractiveness of the listing, timing, location and the condition of the flat. Bear in mind that if a listing stays on the market for a long time, it loses its appeal. When we compare the property we are selling with another one, we often automatically set its price too low or too high. Unfortunately, both options are unfavourable. Having trouble valuing a residential property? You can ask a financial adviser or an estate agent for help. A price that is too high at the start can significantly shrink the pool of interested buyers, so finding a buyer will take much longer.

What mistakes do property sellers make? – no plan

A property sale plan organises and simplifies your actions. It allows you to make sound decisions and spread tasks over time to your advantage. Drawing one up will help us avoid hasty decisions and disorganisation. Matters handled on impulse often turn out to be unfavourable. A well-written plan should cover all stages of the sale. Having no plan prolongs the sale of the property and reduces the profit. You need to prepare for selling a property well in advance. Do not skip this step, because, contrary to appearances, it is important and affects the final outcome of the transaction. A good plan takes into account: a profile of the target client, an analysis of the property's strengths and weaknesses, a definition of the advertising strategy, and all deadlines.

READ ALSO – WHAT DOES AN ESTATE AGENT'S WORK INVOLVE

Poorly conducted conversations with clients

People who do not sell property professionally often conduct conversations with clients badly. This applies to the first contact, but above all to the viewing of the premises. The basic mistake is not letting the client get a word in and describing the property only in superlatives, singing its praises. It often turns out that they simply lack the skills for this type of conversation.

Is hiring an estate agent a good solution?

Turning to estate agencies is becoming more and more popular in Poland. We then entrust the handling of the transaction to responsible people who know the market and have the right tools and skills. Selling a flat or house on your own is a very risky decision involving many formalities. Having an estate agent look after the sale gives us peace of mind and convenience. Agents are responsible not only for handling the transaction, but also for its formal side.