Knowing the best techniques to sell a property is essential if you want to succeed in a realtor career. If you really want to know the efficient tactics for selling a house, apartment, land or commercial building, Come with us as we list 24 tips to succeed in this profession. Check out!
What Does It Take to Sell a Property?
The first tactic of how to sell a property is to evaluate the property to understand its current value. Never start a negotiation without knowing the real value of a house, apartment, land or commercial building.
After evaluating a property, it is time to check the property’s documentation and make sure they are up to date and that there are no outstanding fees or taxes.
With everything in order, it is time to make the property more attractive to potential buyers; therefore, to make the space more beautiful and pleasant, it is ideal to make small renovations.
Among the best practices on how to sell a property, also ask the owner to make improvements, such as fixing broken parts, painting walls, checking electrical and plumbing installations, etc. It is good to leave the environment organized to give an impression and a feeling of comfort and warmth.
With everything beautiful and tidy, take care of the images of the property, as they are the business card to attract visitors and, of course, close the deal much faster.
When advertising the property on social media, websites or search platforms, do not forget to make a good description and enter details about the property’s structure, the number of rooms, parking spaces, rooms, location, nearby services and so on.
How to Sell a Property Safely?
To sell a property safely, we recommend that you, as a realtor, clarify to the owner of the property all the issues that involve negotiation, especially related to the commissions, rights and responsibilities of each one.
This care is essential to avoid any headache, breach of obligations or unresolved issues. It is certainly one of the best ways to sell a property safely for everyone involved in the negotiation.
How to Sell a Property on Your Own?
The best practice on how to sell a property on your own, without a doubt, is disclosure. For example, invest in advertising channels if you are an independent realtor with no connection to a real estate company.
The first step is to create a profile on social networks, such as Instagram and Facebook, as these channels have become showcases for the most diverse businesses, helping a lot in disseminating services, products and properties.
In addition to social networks, if you want to learn how to sell a property quickly, have a website that brings together all the options for properties for sale.
If you want to know how to sell a used or new property on your own, also pay attention to all the bureaucratic parts, such as the property documentation, possibility of financing, structural situation of the property, values, etc.
All this will ensure that you can sell a property on your own much more efficiently and safely. Think about it!
Can I Sell a Financed Property?
The answer is yes! If the property for sale is financed by the owner, it can be done simply and without a headache. However, you need to take into account some issues to make the sales process right.
There are two ways to sell a financed property; the first is if the buyer buys the good in cash or instalments, but without the need for financing.
Therefore, the owner of the property must settle the debt balance with the creditor banking institution. In this way, guide the owner to contact the bank in order to pay the remaining amount to settle the debt.
In the process of how to sell a property, when making the payment with the money received by the buyer, the banking institution issues a statement confirming that the property is free of any debts.
With these documents in hand, it is necessary to take them to the Real Estate Registry Office in the city where the property is located to withdraw the fiduciary alienation from the registration of the property.
In this way, the owner of the property will be able to exercise full control over the property, thus being able to transfer it to the buyer by means of a public deed signed by those involved and later registered in a real estate registry.
The other way to settle the debt balance with the financial institution is when the buyer wants to make financing, which can be done in the same bank where the property is already being financed.
For the process of how to sell a property to take place in the best way, the first step is to guide the property owner to ask the creditor bank to update the debt balance.
Once this is done, if they were different banks, a new purchase and sale contract must be drawn up between the former owner, buyer and the creditor institution chosen by the buyers.
In this way, the new creditor bank will transfer the portion related to the debt to the institution responsible for financing the property. From then on, the previous balance that existed will be extinguished.
Therefore, the property will be sold again to a new creditor institution with a new financing agreement, which must also be registered at the Real Estate Registry Office where the property is located.
If the contract is signed at the creditor bank of the first financing and is the same as the second, the signed contract will establish that a part of the financing amount will be used to settle the initial debt.
How does the Sale of a Financed Apartment work?
The sale of a financed apartment will follow the same processes we have just mentioned above, such as guiding the property owner to ask the creditor bank to update the debt balance.
This measure is necessary for the elaboration of a new purchase and sale agreement between the former owner, purchaser and the creditor institution chosen by the buyers in order to transfer the portion related to the debt to the institution responsible for financing the property.
In the process of how to sell a financed property, the property will be sold again to a new creditor institution with a new financing agreement, which must also be registered at the Real Estate Registry Office where the property is located.
If the contract is signed at the creditor bank of the first financing and is the same as the second, the signed contract will establish that a part of the financing amount will be used to settle the initial debt.
What to Consider When Selling My Property?
The truth is that the best practices on how to sell a property are numerous, and it is important that you understand what they are to ensure that a process takes place in a simpler, faster and more hassle-free way.
To help you in your process of selling a property, we have separated 24 tips for selling property on your own or even through a real estate agency. Check out!
1. Organize Property Documents
To know how to sell an apartment, house, land or commercial building, the first step is to organize all the property documentation.
If the property is located in a condominium, the ideal is to ask the owner for a declaration of condominium discharge from the landlord or administrator.
In the process of how to sell a property, it is necessary to gather a series of documents, such as:
- Identification document;
- Civil Status Certificate;
- Up-to-date proof of address, less than 30 days old.
If the property belongs to a company or has the participation of a partner, you must also gather the following documents:
- Copy of the Bylaws or Articles of Incorporation
- CNIC card
- Letter with the date of the last modification of the bylaws or business contract
- Contractual or statutory changes
2. Take an X-Ray of the Property Features
Another tip on how to sell a property is to take a true x-ray of the property’s characteristics. Therefore, it is ideal to check the footage, number of rooms, the recent improvements, number of parking spaces and value of the condominium fee.
Also, check issues such as the structure of the condominium, times when the sun hits the place, the commerce and services in the surroundings, etc.
3. Calculate Necessary Reforms
It is not enough to know what documents are needed to sell a property; it is necessary to take into account all the details of the property, such as calculating the renovations carried out.
If you want to know how to sell a property to get a good commission, know that understanding the improvements made is essential to pricing the property correctly.
Ask the owner to list all the works carried out on the property, such as electrical and plumbing improvements, painting, replacement of items such as windows, doors, handles, placement of cabinets, replacement of floors, etc.
4. Know the Income Tax Exemption Cases
If you intend to learn how to sell a private property or even through a real estate company, it is important that you know all the cases of income tax exemption, ensuring complete assistance for the property owner.
The agency requires the payment of 15% on this capital gain. However, there are some situations where tax is not due on the sale of a property.
One of them is when the property is sold for a value to what it was bought, generating a loss. Another case is if a person buys another more expensive property within 180 days after the old one is sold.
In addition, the exemption is also provided if the person has not sold another property of up to R$ 400 thousand in the last 5 years. There is also an exemption if the property was acquired before 1969.
5. Find out if it is possible to sell a property with usufruct
Among the best practices on how to sell a property, it is important to know if it is possible to sell a property with usufruct. For you to understand, usufruct happens when the property is legally transferred to another person through donation. However, the donor still retains the property right indefinitely.
In fact, it is important to emphasize that this type of agreement must be registered in the property registration. Remember that the property with usufruct cannot be sold since the usufructuary is not effectively the owner.
The same happens with the bare owner, who also cannot sell the property since the sale implies the transfer of the domain that, in this negotiation, belongs to those who live in the place.
Therefore, to sell the property, it is necessary to guide those involved in the negotiation that it is necessary to terminate the agreement so that the property can be negotiated.
6. Estimate the Value of the Square Meter in the region
Among the best tactics on how to sell a property, another tip is to estimate the value of the square meter in the region so that you know exactly what the fair value is for the property and not set a price above the market value, making the sale difficult.
To determine the value of the property, the ideal is to search for similar properties in the same region or even on the same street. From this, make an estimate using the square meter value in the region.
Do not forget to take into account the conservation of the property, the number of bedrooms and the most relevant features of the condominium, such as leisure areas, parking spaces, party room, swimming pool, etc.
7. Calculate the Value of Your Property
With an estimate, the process of how to sell a property becomes easier, as you will know exactly how to calculate the real value of the property.
Know that, nowadays, the internet offers several tools so that the sale value can be calculated correctly, since these systems take into account the history of properties similar to the property for sale, generating a margin on how much to charge.
8. Advertise and Take Photos of the Property
Want to learn the best tactics on how to sell a property and make good sales announcements, especially on digital channels.
Remember that images are the starting point to attracting potential interested parties. Therefore, take good photos of the property, always highlighting the advantages and strengths of the property.
In fact, if you want to learn how to sell a property, a good tip is to use quality cell phones or cameras that offer high-resolution images.
9. Accept Visits
Visits are essential in a process of how to sell a property. Therefore, when advertising a property it is important to make it clear that visits are open at a specific time.
Schedule the visit both during the day and at night so that interested parties can understand the characteristics of the property at each time of day.
Even allowing potential buyers to visit the house or apartment greatly increases the chances of selling the property.
10. Anticipate Possible Situations and Doubts
Whenever possible, to get in touch to obtain more information about a particular property, be prepared to answer all questions and also foresee different situations.
It is one of the best tactics on how to sell a property, as you can rebut sales objections and provide all the necessary information.
So, get to know all the characteristics of the property, such as condominium value, the incidence of the sun during the day, renovations, services in the region, neighbourhood and so on. So, always be prepared for any questions.
11. Keep Cleaning Up to Date
Of course, cleaning is essential to sell property on your own or through a real estate agency. Always remember that the first impression is always the last one.
Have you ever thought about receiving a potential buyer whose property is dirty? What impression will he make? Certainly, there are great possibilities for the customer not to see any value in the property and give up on the purchase.
Therefore, the first step in how to sell a property is to keep the spaces clean to make a good impression. Therefore, leave the windows open to ventilate the environment and thus avoid mold, mildew, humidity, etc.
12. Make a Detailed Description of the Property
Are you going to advertise the property on the internet? So, making a detailed description of the property is essential.
In addition to good images, it is necessary to describe exactly the characteristics of the property, always emphasizing the advantages of the property and its relevant points.
Create an attractive and complete description, such as total footage, bedrooms, bathrooms and parking spaces, common spaces in the condominium, leisure areas, means of transport, security devices, and possibility (or not) of financing.
Remember that among the best practices of how to sell a property, the main objective is to delight potential buyers. Elaborate the description, bring all the details and leave no doubts.
13. Make a Model Purchase and Sale Agreement
To speed up the process of how to sell a property, always have a model of a purchase and sale contract, with all the details that record the agreement signed between those involved.
The good news is that nowadays, it is very easy to find different models and guidelines on how to make a contract. However, it is best to have the help of a specialized lawyer to prepare the document correctly.
14. Use the Internet
If you want to learn how to sell a property, the internet can be your main ally to promote available properties quickly.
As we have already mentioned, it is possible to use social networks to advertise houses, apartments and land on your website or on specialized pages, such as Sky Marketing, which helps you to advertise properties easily and to thousands of people.
Remember that, nowadays, most purchase decision-makers are present in the digital world, where they search for varied information, including the purchase of the real estate.
15. Think about Disclosure Channels
Being present on a channel where there is no audience is not useful. Currently, the most accessed social networks by the adult audience are Instagram and Facebook.
Even though it is still useful to use advertising boards on real estate, digital channels are essential to reach the audience you want.
Therefore, if you want to understand how to sell a property faster, use online and offline channels to expand the dissemination of available properties.
16. Be Open to Negotiations
There is no point in having the best properties to sell if you or your client is not open to negotiations.
Know that potential buyers will always be looking to negotiate, and rarely will the advertised value of the property be exactly the final one.
Therefore, the best practices of how to sell a property quickly say that it is necessary to have a margin for your negotiation, therefore establishing a minimum value and the maximum value to make the negotiation.
For this margin to be defined, it is important to understand the needs of the buyer and seller of the property in order to find the best path for sale.
17. Focus on Good Service
Want to learn how to sell a house, apartment or land? So, another tip is to focus on good service. In this way, always invest in a good conversation with potential buyers, whether by phone, chat, WhatsApp or in person.
Clarify all possible doubts, respond quickly, be polite, cordial and never force a sale. In fact, the more service channels you have, the faster you close a sale. Think about it!
18. Learn to Listen to Customers
Another tip on how to sell a property, is to listen to customers patiently. It seems like a ‘beat’ recommendation, but believe me: the art of listening is for few, especially in sales negotiations, as the seller is in a hurry to sell.
When starting a sale process, try to listen to the buyer’s needs, what he wants in a property and the points of concern.
From there, you can outline the best solutions and reinforce that the characteristics of a particular property are aligned with your needs and desires.
19. Know the Pricing of the Region
Another step towards the best practices of how to sell a property is to know the prices of properties practised in the region. In fact, this is one of the most important steps for a realtor.
To establish a fair price for those who sell and buy, it is essential to know the region well, comparing it to other houses or apartments of similar size and characteristics.
In addition, understand the value of the square meter of the neighbourhood or the street itself to define the price of the property.
20. Stay on top of News in the Property Region
Another important point for those who want to know how to sell a property is to always be aware of the news in the region where the property is located, as this is a way to add even more value to the property.
Follow the events that value the region, the services that guarantee comfort and convenience to the residents, the leisure area that will be implemented, new ventures and so on.
Always remember that in a sale process, it is always necessary to present news that adds even more value to the property sold.
21. Get Good Legal Aid
Another good practice of how to sell a property is to have good legal assistance. Even having knowledge of the sector, having a professional who guides you on the legal procedures of the segment is essential to speed up the processes and provide security to those involved.
This care is even more important when formalizing a purchase and sale agreement, for example, to ensure that the document gathers all the essential details in this negotiation.
22. Decorate the Environment With Simple Elements
Of course, the decoration of the property could not be left out of our list of how to sell a property, as it is essential to value the property and arouse the interest of potential buyers.
In addition to the necessary renovations in a property, if possible, recommend that the owner pay special attention to the decoration with simple elements that make a good impression during visits, even if the property is unoccupied. You may visit
https://skymarketing.com.pk/rawalpindi/blue-world-city/ to know more about it.
A good tip is to leave the environment with neutral elements and convey an idea of warmth to the environment.
23. Have the Property Deed
The deed is an item that can never be left out of the process of how to sell a property, as this document is important to guarantee the legality of the negotiation.
Even though it is not a document that transfers the right of ownership to the buyer, it does guarantee rights of use and exchange.
24. Register the Property
After completing the purchase and sale process, it is necessary to guide the new owner to register the property since the property registration transfers ownership of the property, making the buyer the new owner responsible for paying taxes, renovations and construction changes.
After signing the property deed, the document is sent to the Real Estate Registry Office of the city where the property is located, which will take up to 30 business days to complete the process.
If the property is financed, the registration will be made when the property is paid off.
Frequently Asked Questions (Quick Guide)
Now that you have all the tips on how to sell a property, we have also listed the top realtors’ questions in a quick guide, so no question is left out. Check out!
What are the main ways of selling an apartment?
It is possible to sell property on your own, through a real estate company, if you work in the company, or through search platforms.
Remember that regardless of the type of sale you choose, you will need to be an inhabited realtor.
How does buying and selling with intermediaries take place?
The purchase and sale with intermediaries happen when an owner requests the help of a real estate agent or a realtor, who searches for interested parties, presents the property, schedules visits, and helps with the bureaucratic part.
When counting on an intermediary, the owner of the property must pay a sales commission, which is established between those involved. Typically, this commission is 6%.
How to Sell Property Directly With Owner?
The sale directly with the owner of a property is a very used modality. However, more risky because you run the risk of breaching the agreement.
However, it is ideal for making a contract, including all the requirements of those involved in the negotiation. Remember that the document needs to be regularized in order to have legal validity.
Conclusion
Now that you have the best tips on how to sell a property, it is time to get your hands dirty and gather best practices to increase your sales. The best thing is that here you are served the way you prefer, such as WhatsApp, phone, chat, email, Facebook and Instagram.
