How to sell an apartment?

On the real estate market there are owners convinced that if everyone can run the state, so selling the apartment is no big deal. 

What is so difficult in selling: to place an advertisement and get your few tens of thousands of dollars from the buyer? Some real estate sellers think realtors only charge commission percentage and impede selling.

How to sell an apartment yourself: without intermediaries (without realtors, real estate agencies)?

Let's understand the difficulties that most real estate sellers who are confident in their abilities and ease sale procedures face. So, in proper order- all stages of the sale and the problems that come upon inexperienced owner:

Problem 1.Apartment evaluation.

How to evaluate the apartment? Typically, the majority of real estate owners raise too high price for their real estate, forgetting the fact that there are a lot of similar options on the market. A buyer usually looks for an apartment on the principle "I want the cheapest apartment or to buy it for nothing!” 
Exact apartment evaluation may save months of time for adequately seller. Unfortunately, experience has shown that you can really get an idea of starting price of the real estate only after long trips on the Internet and Internet portals of real estate, thorough analysis of the prices for real estate in different state and districts.

  • To sell an apartment quickly, do not yield to your friends, relatives and other well-wishers who convince you to upsell the apartment. Just give an honest answer to the question: "Would I buy an apartment for the same price?" And it all makes sense.
  • Prices on the Internet are usually starting. So you should consider that each viewer interested in your apartment will ask to lower the price. The price of real estate is usually cut by 5-20% on the real estate market.
  •  What determines the price of an apartment after market evaluation- read here.

Problem 2. How to sell more expensive and profitable.

So we know the approximate price for housing.  But the question is: "Is it possible to sell an apartment more expensively?"

  • The answer is quite simple - you should make it more attractive, at least visually. Redecoration, cleaning, removal of unnecessary belongings are the best things for economy housing. As for business or VIP class housing - buyers often look for housing which is ready for living. And it concerns not only repair, but even furniture. Therefore, in such apartments good repair may be necessary for profitable sale.

Problem 3. Advertisement about apartment sale

Advertising is a real art. So you should not be too frivolous in drafting the advertising for apartment selling. If you place an advertisement about real estate selling yourself, note that a similar real estate will be sold at all advertising sources that may compete with your apartment not only for price but also for advertisement quality.

Problem 4. Where to advertise your apartment?

If you want to sell your real estate without the assistance from a real estate agency, you have to do all its work. Of course you should not walk along the streets with a tablet on the chest “A cool apartment is on sale". But you should at least place an advertisement in newspapers and various internet portals. 

  • For example, you place an advertisement in a newspaper "A  ...”. Preferably you should make a prepayment for several issues. You should also place an advertisement on Internet sites. Even though they such sites multiply with the speed of sound, advertisements on them are read and apartments are bought. So do not stop at one site.
  • You should necessarily advertise your apartment among your friends. Maybe a friend of your friend looks for exactly that you want to sell?!
  • You may put advertisements at public transport stops. You can also place advertisements on bulletin boards near the entrances of buildings.

If you sell an apartment without agency, you should understand that from this moment you have to forget about privacy - your phone number and address of the apartment will be open to anyone. And phone calls likely will "haunt" you even a year after the apartment will be sold. 

Problem 5. Calls?

You have to understand that you can always be called. But do not expect this is at once your buyer. If these calls annoy you, the conclusion is: you should not manage real estate sale yourself. You had to charge an apartment sale to a real estate agency

Problem 6. Important negotiations.

According to statistics, due to low skilled employees (without experience) about ten percent is lost at the real estate sale! Therefore, it would be good to have someone who knows how to negotiate wisely.

Problem 7. Advance payment

If you find a buyer who is ready to buy your apartment, you are to be congratulated; the half of the work is already done. Now the most important part remained - it is the real estate sale itself. To formalize the agreement and reach agreement with the buyer, it is necessary to get an advance payment. Advance payment will confirm that the customer intends to buy your apartment, and you will be given the green light to prepare documents.

Problem 8. Release of documents

At this stage independent owners will face the state bureaucracy in its purest form.

  • Your documents on the apartment should be maximum prepared before reregistration. Otherwise, by experience, about 50% of buyers will ask advance payment back and say goodbye to you, because they have no time or desire to wait. And they will have every reason.

Will you be able to sell the apartment quickly, correctly and without any problems?

All the stages of the sale are briefly described here. If you have free time and desire, you will succeed.. 

But first of all, answer yourself a few questions:

  • Do I have necessary features, knowledge and ability to analyze information and draw conclusions, negotiating skills?
  • Do I have enough free time because the process of sale is usually long?
  • Do I have a positive experience in sales because the buyer does not accept the product if it is not presented by a good seller? 

If the answer to all questions is positive, then there is a real opportunity to sell an apartment yourself, but for what?

Do you know that:

  • In most cities, including Lviv, intermediary services for real estate owners are free.
  • The majority of buyers on the market intend to buy real estate through intermediaries but not themselves. So they couldn't buy your real estate.
  • If you find a buyer yourself, then you can use part services of the real estate agency, it may provide only support services (Release of documents, consultation, negotiation, provisional contract registration).

Good luck in sales!