The 8 most common mistakes when selling a house

Selling a property is not an easy task.   
It is a time-consuming procedure and requires a minimum of knowledge. An inexperienced or uninformed seller does not generate confidence in buyers.


We help you to identify the most common mistakes:


1º Not knowing the market and setting the selling price too high.
It is very important to know the market in order to establish a suitable price and although the property to be sold is a very valuable asset, it is important to be aware that the selling price must be reasonable and in accordance with the current socio-economic context.
Setting a price that is too high is a mistake, even if it is done in order to negotiate downwards, because if it is not sufficiently studied, the established cost will be out of the market, causing potential buyers to discard the property because it is not within their price range.
 
2º Not knowing how to negotiate with the people involved.
The sale of a property involves negotiating with a series of people and defending one's own interests against the requests of each of them. You will have to make contact with: the buyer, the buyer's agent, the buyer's lawyer, the sale certification company, the owner's or buyer's bank (sometimes) and even with false buyers.
It will also be necessary to show the house on several occasions and to attend to interested parties cordially and adapt to their schedules.


3º Not knowing how to detect potential buyers
Private individuals do not tend to investigate potential buyers and are unaware of their financial capacity, housing needs, etc. Some people may come in to visit the house and not even identify themselves.
In addition, each buyer is different and will have questions. The owner must know how to answer them and be aware of the stages of the sale process.
 
4º Not knowing about legal issues and contracts.
You cannot put a house up for sale without first being informed about legal issues and contracts. Many buyers do not accept the agreement because the contract proposed by the owner does not give them any confidence.
There are many clauses that must be taken into account in a purchase contract, as well as mortgage issues, possible inheritance, capital gains and other taxes.
 
5º Not knowing how to prepare the property for sale and not thinking of it as a product.
In every sector, traders try in every way possible to present their product as attractively as possible. The presentation of the property is one of the keys (cleanliness, decoration, condition...).
Some owners are unaware of sales and marketing techniques and how to apply them and do not take into account that it may be necessary to invest in order to get the property ready for sale.
It is advisable not to live in the house you are trying to sell.
 
6º Not dedicating enough time to it.
Selling processes can last from a few weeks to months and it is necessary to dedicate adequate time to each phase.
 
7º Not knowing how to advertise the property and not taking advantage of new technologies and tools.
It is not enough to just take pictures with your mobile phone and publish them on free portals or social networks. Most of the images taken in this way are of questionable quality and a bad procedure can affect the sale.
When taking pictures, you have to pay attention to aspects such as lighting, angle, framing... A picture is worth a thousand words! And the use of social networks and portals requires at least user-level knowledge and a minimum level of writing and description focused on the sale.
 
8º Not knowing how to close the sale.
Many owners are unaware that before closing the sale it is necessary to take into account: that the technical supervision of the property has been satisfactory, that the contract must be approved by the buyer, that the buyer's solvency must be checked and that the cost of taxes and notary fees must be calculated.


Having the support and advice of professionals can be very effective, even if you have to invest in it. 
 
In short, a private individual may choose to sell their property, but by finding the right professionals they will have good advice that will be reflected positively in the results.