3 more repeated mistakes when selling a house.
Javier Moronatti Fuente: www.businessinsider.es
Getting your home purchased is not always an easy task. But it is even more complicated to sell the property while satisfying the expectations that you have created or within the calculations you have in mind. Basically, with respect to two variables: the time frame - if you had determined it to be in a hurry - and the desired economic conditions.
Set the price of the house
Establishing how much the house or the apartment you want to get rid of is worth a key factor. Obviously, every seller aspires to obtain the maximum possible with the operation, so in many cases the temptation arises to ask too much money for good. Therefore, it is important to take into account the following factors listed by José Manuel Diestre, from Remax, to stipulate the most reasonable price.
How much is the property worth? The market has the answer
- The location is essential to find the monetary value of a property. "You have to consider issues such as transportation, services, commerce, leisure, green or sports areas, schools, etc.," said the expert.
- The building, common areas, equipment or porter service are key aspects.
- The state of conservation of the house and the works carried out - if any - are important to establish the price. If you are thinking of renovating a house to sell it, we discover the changes that are worth making.
- The location of the property within the community - the height, whether it is interior or exterior, etc. - makes the money requested in exchange for the apartment greater or less.
- The annexes, such as storage room or garage, also influence significantly.
- The market and the competition of the moment. We must analyze both sales prices and those paid for the houses already transferred.
On the other hand, Antonio Mañas, real estate agent of Keller Williams One, affects this last point. "The value of the house depends solely and exclusively on the market. It is not about what our property is worth, but what people are willing to pay for it
. Of course, the state of conservation, qualities, location and benefits they influence, but the one that will determine the final value of our asset will always be the market, "he says.
The 3 most repeated mistakes when setting the sale price of a home
With the help of 3 experts we explain two mistakes that are repeated over and over again in the real estate market and that can be an obstacle when trying to sell your property.
"Setting an incorrect price for the property is a very common mistake. It is not about setting the highest market price to earn money in abundance, but it is clear that we are not going to set a sale price so low that it means losing money"
, says Javier Torrens, director of offices at Casas MT.
"A good real estate agent will recommend you to hire an appraiser so that you can know the real value of your home
from aspects such as location, surface area, the state in which it is located, etc. If you want to attract buyers, it is advisable to properly assess your house through a professional appraiser who teams up with your real estate agent to do an exhaustive market study and the area in which your property is located, "said the specialist.
Value the house from a sentimental perspective
José Manuel Diestre reveals that, according to his experience, "there are several mistakes that owners usually make when setting the price. For example, think only of the money they need, what they have spent at home or depending on the price from which they are going to buy,
"But a very common mistake - this expert specifies - is to value it based on the feelings that have towards the house, of the lived experiences, of the memories ... That makes lose the necessary objectivity", concludes. In that sense, here you can discover what housing can be purchased for 150,000 euros.
The already named Antonio Mañas influences that idea about the most typical mistakes when trying to sell the property:
"To think that housing is worth more than it really is. We should not mix feelings or needs when putting a price on a property to its subsequent sale and be totally objective, "he warns.
Inflate the price of the house
To this, this real estate agent adds that "setting a high price, can often mean ending up selling below its market value. A house with a higher price than the market, will help sell those of competitors"
, he says.
"Buyers seek to filter by price: if a house is outside the range of the area, buyers will probably not even see the ad and so many opportunities will be lost. The property will end up losing interest to buyers because they will think that if it takes a long time in the market, it's because something bad happens with her"
, Antonio Mañas reasons.
As if that were not enough, problems could arise with the appraisal
. "If someone were willing to pay a price above the market, it is most likely that the bank did not grant the loan," warns the professional.
Similarly, it is the Remax specialist, who flatly rejects the amount requested by the property
. "From my point of view, it is one of the biggest and most common mistakes in the sector. In the end the price is what it is and we will reach it whether we put a price below the market, as if we put it above. The difference is that, having a high price, the property will be much less attractive in the eyes of the final buyer
, which translates into less potential buyers and more time in the market, a time that is also money and that many times We forget. Put a house at the right price and you will see how no one bargains"
, he advises.