Oktober 3rd, 2016
Seller´s guide to selling your Property in Berlin
Seller´s guide to selling in Berlin
Choose a Berlin based Real Estate Agent
Ask the agent which homes they have sold in your area, how they will market your home and how quickly their last five properties have sold. Be wary of agents who will lock you in for six months with a selling contract. What’s most important is an agent who will fight to get the deal that’s best for you, the agency must be strong at marketing your property internationally as Berlin is very popular with foreign buyers. A “walk-in” office with bright window displays where buyers and sellers feel comfortable is also important.
Find Your Bottom Line and Price it Right
Once you have a rough valuation, subtract legal costs, balance of mortgage and bank penalty´s for early repayment of bank loan/mortgage. This is your bottom line and only you can decide if it is enough. When in doubt, start with a lower asking price as the best sales outcome always involves multiple buyers.
3 Set the Stage
Your home will need to impress prospective buyers all on its own. Consider staging an empty room with furniture or clearing the clutter from a crowded space. Fill each room with natural light. Do what it takes to ensure your home photographs well and looks its best, grabbing the attention of every potential buyer who walks through the door.
Aside from renovating a severely outdated kitchen or bathroom, any home improvement that doesn’t add square M2 isn’t worth it. Some less drastic, cosmetic improvements are exceptions: steam cleaning the carpets (especially if you smoke or have pets), washing the windows and hiring a home-cleaning service to professionally clean the property from top to bottom especially bathrooms.
Nail the Debut
You’ll only get one chance to make a first impression with the photos and price of your home. Your listing will get 5x more traffic in its first week than it will a month later. For most areas, we recommend a Thursday or Friday debut to catch the attention of homebuyers who are online deciding what to see over the weekend. Homes that hit the market on Thursday sell for more money and faster than those listed on any other day. A 360 degree video for online viewing and professional photos are a “must have” for a successful sales outcome.
Make sure your agent will Market Your Home Online
Normally your agent will use Immobilienscout24 to sell your property but try to choose an agent with a large visual on the ground presence with a “walk in office” which fills buyers with confidence, they should also use international portals to advertise and generate buyers, ask them which ones they use.
Hold an Open House …normally during summer months..
Our research shows that holding an open house rarely affects the likelihood or price at which a home will sell. The exception is when it’s held in the first week of the home’s debut and also during summer months as people will wander around the area where as during winter they will go from A to B as fast as possible. Bottom line: if you can’t hold an open house right away, or if you don’t want to have one, don’t worry.
Get Feedback Early and Always
Once your home is on the market, private tours should start rolling in. If your home is overpriced or needs a few simple cosmetic changes, the agents will usually let you know as a professional courtesy. Once you hear the same feedback from a few buyers, act on it.
What about the rest of the process?
The cold, hard truth is that once you have your home on the market, you’re playing a waiting game. Your agent should advertise your home on the portals nationally and internationally and to his or her database of clients then get feedback from buyers who tour your home. When you get an offer, the agent should monitor the inspection and appraisal process, and handle negotiations and closing.