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Top Tips When Selling A Property

Does the thought of selling a property seem daunting? That’s understandable considering the number of tasks and the amount of paperwork involved, not to mention the many moving parts to each real estate transaction.

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Sell a property hand with house keys
Pooja Pillai

Quick summary:

Selling a property comes down to eight stages: price it accurately using three no-obligation valuations plus your own research into comparable listings and actual sale prices; clean and declutter; stage and photograph it professionally; add a 3–4 minute video; build a listing with a full description, floor plan and local area detail; offer contact-free viewings; negotiate after the buyer's home inspection; and close with an escrow account and properly drafted contracts. One figure worth knowing: properties marketed with a floor plan attract up to 30% more interest.

Usually, a real estate agent manages most of the sale complexities, taking some of the guesswork out of selling a property. While it’s great to have their guidance, you can avoid several costly mistakes if you (as a seller) have a broad understanding of the selling process.

Whether you’re selling in a bustling city, a cozy suburb, or the rural countryside, here is a list of 8 elements critical to improving your property sale success rate.

In this article:

1. Price it Right

One of the first steps is to accurately and realistically predict how much it will fetch in the marketplace. It’s essential to get the pricing right as early as possible since interest in new listings often wanes within 21 days. You do not want your ad to go stale, for that lowers your negotiating power.

To find that pricing sweet-spot, we recommend you follow these steps

Depending on your property, age, size, location, and condition, this research will deliver the most relevant market value. Ultimately, a property is only worth what a buyer is prepared to pay for it. Therefore, the market will determine the price in the end. However, by following the steps outlined above you will ensure you give yourself the best chance possible of achieving your property’s true value.

2. Clean and Declutter

Before marketing your house, be sure it is at it’s best. You may need to put a fresh coat of paint on the walls and spend time deep-cleaning and decluttering.

Man walking in apartment
Image Credit: Gerd Altmann from Pixabay

Consider adding a few potted flowers in the rooms for a beautiful, natural vibe. Make sure your landscaping is in tip-top shape, and perform small repairs like fixing faucets or replacing burnt-out light bulbs.

Top RoomSketcher Tip

Don’t forget to organize your cupboards and closets. Sellers tend to think that messy storage spaces will stay hidden, but that is not always so.

3. Staged, Clicked, Shared, Sold!

In today’s world, buyers and sellers alike are hesitant to engage in open house sessions. You will find that only the most interested buyers end up visiting homes – and a visit typically only happens after the buyers have reviewed photos of the space.

This is why investing in a professional real estate photographer has become so important. Since showcasing the property in real life is currently minimized, photos are one good way to create the desired appeal amongst buyers.

Apartment with sofa
Image credit: Neonbrand from Unsplash

On that note, we recommend that you engage with photographers who have experience in ‘staging’ the property. This will attract the highest number of potential buyers. These professionals will know about the right lighting, composition, and angle to make any space look its best.

Staging and professional photography may appear to be a significant upfront investment, but it’s also a surefire way of increasing the chances of selling a property.

Whether you rely on a hired hand or go the DIY route to capture the essence of your real estate, be sure to:

Bright white kitchen with a large island, green pendant lights, farmhouse sink, and black-framed windows.

4. Add Property Videos for Extra Oomph!

Along with photos, one of the latest trends is to include a 3-4 minute video showcase of your property.

Buyers have greater trust in property listings when they can see a video. A video offers a more complete understanding of the space. According to a survey by NAR in 2018, 73% of homeowners would prefer to work with a real estate agent who uses videos in the property listing. This preference will likely rise in this era of physical distancing and the growing comfort in making purchase decisions online.

5. Market it Like you Mean it

When selling a property, your property listing is crucial to get right since it will be shared widely, through listing sites, social media, other brokers, and emails. To ensure that your listing stands out from the crowd, be sure to include:

3D floor plan of a two-bedroom apartment showing the kitchen, dining area, living room, bathroom, and furnished bedrooms.

It’s also critical to tailor your listing to the buyer persona that you are targeting. Let’s imagine you are selling a beach house targeted to a single person. When writing the listing, instead of waxing lyrical about the proximity of the property to schools or its eco-friendly fittings, talk of the resort. Such as amenities and easy access to the beach for summer cook-outs.

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6. Enable Contact-Free Home Showings

Initially, virtual home viewing sessions were for interested buyers who couldn’t be in town to view the property in person. Today, buyers and sellers prefer that property tours (at least at the introductory level) take place without face-to-face meetings. There are many great video conferencing solutions, from Skype to Google Hangouts to Zoom, that can offer this sort of a ‘remote’ open house or private tour session.

Alternately, suppose you are trying to sell a new property that is still under construction. You may offer interested parties a link to a virtual walkthrough of the project’s 3D floor plan via RoomSketcher. A virtual tour helps buyers visualize the final design interactively. By navigating via an avatar and flying over the floor plan. Optionally, potential buyers can interact with the layout of your property and start furnishing it like it's their own home.

7. Negotiate Post-Property Inspection

At the negotiation stage of selling a property, it’s essential to have a real estate agent in your corner. Their bargaining skills are sure to help you get a reasonable price for your property. According to the National Association of REALTORS, the average seller sold their homes at close to the listing price when they used a broker during negotiation.

It’s also important to remember that most buyers will have a home inspector visit your property. They will assess it for structural integrity, pest infestation, fireplace safety, etc. If their report highlights any critical issues or structural damage, the buyer will either ask for a price cut or repairs. So, be sure to have your contractors on stand-by to iron out these issues; to enable the sale to proceed smoothly.

hands shaking house sold
Image Credit: Gerd Altmann from Pixabay

8. ‘Close’ the Sale

Finally, you have an interested buyer ready to sign on the dotted line. Congratulations! The next steps typically include:

How do I price my property correctly?
Get at least three real estate agents to complete a no-obligation valuation, research comparable listings in your area from the last two to three months, and research what those properties actually sold for rather than what they were listed at. Together these give you a realistic price range for your property's age, size, location and condition.
What should a property listing include?
A full but concise description — number of bedrooms, room measurements, tenure type such as leasehold or freehold, parking, tax details and energy performance information — plus a detailed floor plan and information selling the location: a local map, nearby schools, transport links, shops, restaurants and recreation. Location detail matters most for buyers relocating from elsewhere who do not know the area.
Does including a floor plan really help?
Research indicates properties marketed with a floor plan receive up to 30% more interest than those without one, because buyers can see the layout clearly rather than piecing it together from photos.
What makes property photography effective?
Pick a front-view photograph strong enough to make someone look at the rest, and photograph the features that set the property apart — a jacuzzi, pool or tree house — not just the standard rooms. For rooms mid-renovation or new-builds that do not exist yet, virtual staging with 3D photos can show the finished result down to colors, textures and furnishings.
Should I add a video to my listing?
Yes. A 3–4 minute video showcase is now common, and buyers place greater trust in listings that include one. Contact-free viewings over Skype, Google Hangouts or Zoom also work well, both for buyers who are out of town and for anyone who prefers an introductory tour without meeting in person.
What happens during post-inspection negotiation?
Most buyers will send a home inspector to assess structural integrity, pest infestation, fireplace safety and similar issues. If the report flags anything critical, the buyer will ask for a price reduction or repairs — so have contractors on standby to resolve problems and keep the sale moving.
What do I need to close the sale?
Set up an escrow account to hold transaction proceeds and documents until the deal completes, and employ a lawyer to draw up the sale deeds so they comply with your country or state's laws. Expect 180+ sheets of paper per deal — read each document properly despite the fatigue.

Final Word on Selling a Property

Sure, selling your home is a lot of work. But it can be a lot easier (and more profitable) if you plan smartly.

To make your property stand out from the competition, consider virtual tours and 3D floor plans that help buyers quickly understand your property.

Find out what you can do with the RoomSketcher App by signing up for a free account today. And, once you are ready to try out the professional features, an account upgrade is easy!


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