
When marketing goes wrong: the most common mistakes made by private sellers
1. The price is too high
Many real estate sellers believe that a professional appraisal of their property is not absolutely necessary. They simply use an online valuation calculator or look to see how much the house three streets away sold for. They conveniently forget that the owners of that house have just renovated it and that the noise from the main road can no longer be heard here. To be on the safe side, they add a few thousand dollars to the price—just to make sure they get what they think they are entitled to in the end. After all, buyers like to negotiate. Both are big mistakes. Buying real estate is an important decision that no one takes lightly. Prospective buyers therefore spend several months searching and know the market inside out. They know what features they can expect for what price. If a property is offered at too high a price, the sales process drags on and, in the end, the property often sells for significantly less than a professional would have calculated.
2. Poor photos and missing documents
Due to high market demand, many owners believe that they do not need much documentation to sell their property. A yellow sign on the lamppost and an online ad with a photo of the garden are enough. This misconception can lead to two unpleasant scenarios. Option 1: In regions with particularly high demand, your phone won't stop ringing. However, there are only a few serious buyers. Most just want to check out the property during a viewing to see what it actually looks like. Option 2: In regions with low demand, there are hardly any interested parties for such an advertisement. Furthermore, owners quickly forget that some documents are legally required. Anyone who does not have an energy performance certificate or calculates the living space incorrectly may face fines. Professional real estate agents compile all the important information for their clients and ensure that the property is well presented on the portals. This is also related to the third mistake that private sellers often make when marketing their property.
3. Lack of selection
If you don't want to attract sightseeing tourists, you need to make an initial selection through your advertisement. This should not be done randomly, but in a targeted manner. If you simply don't reply to half of your emails, you run the risk of opening the door to sightseeing tourists while excluding serious prospective buyers. Good photos and tools such as 360-degree tours are therefore a good way of filtering out those who are not seriously interested. Professionals also do not reveal all the information directly in the listing. Anyone who is seriously interested will have no problem submitting an enquiry with their full contact details in order to receive a comprehensive property description or the access link for the virtual tour.
Don't have time to take care of the professional marketing of your property? Contact us now. We will be happy to do it for you.
Photo: Johanna Böhnke / wordliner