5 Most Common Mistakes When Selling Real Estate

Selling your own property is often not an easy task and can take longer or shorter depending on the various circumstances affecting demand.

The first and most important step in the process is to ensure that the title deed is in order, free of encumbrances or litigation. Without it, selling the property is almost impossible. Also, it is extremely important that the property is legalized and shared.

The selling process can be challenging, especially when you advertise your property on portals. Then you can expect numerous calls from interested parties, which can interfere with your everyday life. For many people, real estate agencies offer a safe and reliable way to sell, given the trust clients have in a professional approach.

As an agency, we can make the whole process significantly easier for you. We take over most of the obligations, which is a great relief for the owners. Our legal team follows all participants from start to finish, ensuring that everything goes smoothly, and the owner only signs the purchase agreement at the end. We, as agents, carry out all the viewings and regularly communicate with the owners, so that they are always informed about all the steps of the sale.

Improper Pricing

The second step in the process of selling real estate is determining the appropriate selling price. If the price is not set correctly, it can significantly affect the sales flow and prolong the entire process. Unrealistically high prices often result in fewer inquiries and even a complete lack of customer interest, which significantly reduces the possibility of sales. For this reason, we always advise owners to carefully consider the price they set and to be well informed beforehand about the current market conditions and prices of similar properties.

How to Determine the Price Correctly

In touristic parts of Croatia, such as Split, Dubrovnik and Šibenik, prices are higher than in Zagreb, since these are tourist destinations where the season lasts more than three months. In the centers of these cities, real estate is often rented out to tourists, bringing significant profit, which further increases their value. This is why real estate in the city center is usually the most expensive because it provides the fastest return on invested capital.

Real estate in historic parts, such as Diocletian’s Palace in Split, which is under the protection of UNESCO, is especially valuable – such a purchase carries with it a piece of history, making the real estate unique. Smaller apartments and studios in tourist towns are often more attractive because they allow tourists to rent them more easily, which makes them even more valuable.

Also, the price of the property is affected by the location within the building – apartments on the ground floor are usually cheaper, while additional amenities such as a parking space increase the price. If the property is located by the sea or has a view of the sea, the price can increase significantly.

Split, for example, no longer has room for expansion, which further complicates the situation on the real estate market. Demand is constantly higher than supply, and this leads to significantly higher prices per square meter. Due to the limited possibilities of building new apartments and the great interest of buyers, especially in attractive parts of the city, real estate prices in Split remain at a very high level. This trend of high demand and limited supply makes Split one of the most expensive cities to buy real estate in Croatia.

Are you thinking of selling real estate? Let us do a free appraisal of your property.

Poor Presentation of the Property

The presentation plays a key role in the sale of real estate, because it allows the largest number of potential buyers to be attracted. The property should be presented in the best light, emphasizing all its advantages and peculiarities that set it apart on the market. It is extremely important that the photos are professionally taken, because bad and amateurish pictures can spoil the impression and reduce interest.

A professional photographer or real estate agent can help you here, who knows exactly what needs to be shown and how the property can look as attractive as possible.

In addition to high-quality photos, accurate and detailed information in the ad is also important, including information about the location and all the advantages of the property. The more informative the ad is, the greater the chance it will attract the interest of serious buyers. There are also specialized advertising portals where real estate can be presented, depending on the type and value of the property.

As an experienced agency, we believe that luxury real estate, such as villas worth a million euros and more, cannot be effectively sold exclusively on domestic portals, but on international platforms or through partner agencies in Europe. On foreign portals, people from all over the world have the opportunity to view our offer. We stand out as the only agency in Croatia that can advertise luxury real estate on the Forbes Global Properties portal, globally recognized, especially in the USA, for luxury real estate.

This unique platform has attracted us many clients, not only from America, but also from other parts of the world. Croatia is becoming more and more recognizable as a safe and beautiful destination that has a lot to offer.

The First Impression Is the Most Important

The first impression when selling real estate is crucial for attracting potential buyers. It can significantly influence their decision whether to consider real estate as an option. Professional and high-quality photos, a neat and well-maintained space, and clearly and accurately placed information about the property are the basis for a good first impression. A buyer’s first contact with a property, whether online or in person, should leave a positive and lasting impression that encourages further interest.

Neglecting the Arrangement of the Space

An untidy space and a poorly maintained property significantly spoil the first impression and can reduce the selling price. Such properties often look worse than they really are, fail to highlight their strengths and have a hard time attracting the interest of potential buyers. Investing in decoration and maintenance is crucial, because it makes the property much more attractive and increases the chances of a faster sale.

A property that is already decorated and does not require additional investments represents a simpler purchase – potential buyers can move in immediately, without worrying about buying new furniture and other necessary adjustments for a comfortable life.

Emotional Involvement in Negotiations

Emotional involvement in real estate sales negotiations can significantly affect the course and outcome of the process. Owners often have a personal connection to the property, either because of memories or the effort invested in its maintenance, which can make it difficult to see the situation objectively. Such feelings can lead to unrealistic expectations about the price or terms of the sale, making negotiations difficult.

On the other hand, buyers can also be emotionally involved, especially if they see the property as a future home for their family. The key, however, is to maintain a professional approach during negotiations, based on real facts, so that both parties are satisfied. Emotions can be a powerful motivator, but it’s important to make sure they don’t take control of logic and sound decisions. This role is often taken on by real estate agencies, who can provide objectivity and calm during the negotiation process.

Conclusion

The buying and selling process depends on the property itself and is difficult to predict precisely as it can vary from case to case. It is also affected by external circumstances, such as global inflation, wars, as well as problems with the supply of building materials for the construction of new apartments or renovations. The best locations, especially in the city center, are always in demand, regardless of the circumstances. If the prices are realistic and the real estate is really worth what it is estimated, a sale in the future is very likely.

We advise owners to entrust your property to our agency, because then it is easier to control the entire sales process. Although it is possible to cooperate with several agencies, we recommend limiting yourself to a maximum of two to three. Namely, if several agencies advertise the same property, buyers may get the impression that the property is difficult to sell or that there is some problem, which can appear suspicious and negatively affect market perception.

Therefore, do not hesitate to entrust your property to our experienced agents and let us manage the entire sales process with maximum involvement. Our expertise and dedication will ensure you a professional and efficient approach, with constant communication and support, so that you can reach a successful sale without stress and with full confidence.