Top tips and tricks: What to consider when selling your home

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Like buying a property, selling it is a rare occurrence in the “normal” life of a Swiss. Often there is a lack of experience. In addition, you face “a completely non-transparent market characterized by false incentives,” Gabriel Diezi, head of German-speaking Switzerland at service provider bestag, tells Cash.ch.

Emotions and financial interests play an important role. Lukas Eichhorn from real estate consultant Property Captain adds: “The importance of careful planning becomes particularly clear against the backdrop of the difficulties of selling a property.” Currently, the length of advertisements is increasing and this does not make it easier to sell real estate. It takes more time and a better understanding of what the market is willing to pay.

How quickly do you want the money?

Because it matters a lot whether someone gets more or less than 100,000 francs for his property. Sales objectives must be clearly defined before starting the actual sales process. “Those who want to sell are answering the basic question upfront: Is it the target selling time or the peak sale?” Eichhorn says. says. This question is significantly affected by what sales revenues will be later.

“It can be helpful to structurally prepare a property for sale,” advises Eichhorn. The more attractive and well-maintained a property is, the more attractive it is to potential buyers. Repairs, renovations and careful presentation can significantly increase the desire to buy.

The so-called finishing touches ultimately pay off. The administrative effort involved in sales should also not be underestimated. Obtaining all the necessary documents such as title deed extracts, building plans, building insurance and energy certificates can be time-consuming. Documents that are no longer current, incomplete, or outdated can delay or even hinder the sales process.

Problems of the broker market

“Marketing generally plays a role in real estate sales, although it may not be the determining factor,” says Eichhorn. Professional support can streamline the entire sales process. This creates sales documents and photos, compelling descriptions, and selects the right marketing channels in no time.

Brokers provide support throughout the entire sales process, organizing viewings, preparing sales documentation and ensuring the sale is completed smoothly.

It is also very important to find an agent who knows as many potential buyers as possible. Choosing an agent is one of the biggest challenges for home sellers. “Switzerland is a jungle of 10,000 brokers with huge differences in quality,” says Diezi.

Broker selection

Diezi says finding the best partner for sales is more than just challenging, it’s sort of like looking for a needle in a haystack. Because many brokers will claim to have a broad and comprehensive buyer base. But it is very difficult to verify this as a private person.

According to Diezi, two other problems make the situation worse. First of all, sales are easier and faster with lower sales prices. Accordingly, there are various brokers who want to “make their life a little easier”, especially if the tender is held without competition.

Secondly, according to Diezi, “decoy offers” have become a dubious purchasing practice. Contrary to the first point, brokers promise unrealistically high sales prices to stand out from their competitors. However, unrealistic prices cannot be achieved and can lead to a downward spiral of prices. Therefore, homeowners must understand the dynamics of the real estate market. However, this requires a thorough examination of the real estate market.

Mistakes made when selling real estate

Even if the broker market is confusing and the broker prefers to collect his commission himself, it makes little sense for the bestag specialist to sell the property himself. According to Diezi, there is no point in saving 20,000 francs in broker’s commission, whereas you are selling 100,000 francs cheaper.

The decisive factor for the seller is the net profit. By choosing the best agent, you will not only save time, effort and stress, but also get the best possible sales price or net proceeds.

But you should never trust inexperienced brokers or fixed-price brokers. At the same time, you should never give the value of your property to a single agency. The selling price offered by the broker should not be the sole determining factor in selection; The selling price should be neither too low nor too high.

After the brokerage firm is selected and the marketing price is determined, the brokerage agreement is signed. It is important not to blindly accept the brokerage agreement and put yourself under pressure. There are various negative conditions in the brokerage agreement. Here’s a small overview of what to consider, according to Bestag.

The following points should be avoided in the brokerage agreement:

• Fixed commission rate or fixed commission as there is no incentive to sell at the best price.
• Advance payment or a contract period longer than 6 months – this causes a negative dependence.

The following should be included in the brokerage agreement:

• Exclusive brokerage agreement and payment only on success. A broker must be given a fair chance to successfully complete the sale within a certain period of time. If multiple brokers agree on a non-exclusive basis, no one is fully committed.
• Performance fee (bonus and penalty): An incentive should be created for the broker to put in maximum effort until the end.
• Reasonable contract period of 4 to 6 months.

Choosing a broker will save you a lot of time, effort and nerves, but there are other important factors to consider: First, you will have already gained a lot if you find a top regional broker with as many potential buyers as possible in your client file. In a competitive situation, you should request multiple reviews and have them externally verified; automated reviews are often inaccurate. Finally, you should carefully check the brokerage agreement and determine the incentives (bonus/bad).

Legal factors are also important

During the sales process – with or without an agency – legal issues such as compliance with local building codes and drafting a legally binding purchase contract need to be clarified. But that’s not all: Tax expenses, such as property gains tax and, if necessary, property transfer tax, must also be calculated from the beginning. Transfer tax is borne by the seller only in a few cantons.

The question of whether transfer tax applies and whether it will be passed on to the seller can be clarified in the canton of residence. A careful review and, if necessary, legal or tax advice is recommended.

Ultimately, sellers must be able to convincingly present the terms of sale and successfully lead the negotiation to an outcome acceptable to them. If the two parties agree before signing the contract, misunderstandings and conflicts will be avoided.

As a result, it turns out that selling a house requires a sales goal, thorough preparation, solid knowledge of the real estate market, as well as legal and organizational care. If homeowners take these most important steps into consideration, the process of selling their home, which often takes months, can be completed stress-free and successfully. After all, one of the main issues that need to be addressed before selling a property is the living situation after the sale of the property.

Source :Blick