Frequent knock-out criteria when selling real estate – There is no second chance for the first look! Many owners see a favorable time window for selling their property due to the current price situation. To be successful, they should do one thing: protect themselves from the knock-out criteria when selling.
If no investment is made in a property for a longer period of time after it has been built, this can have a negative impact on the substance of the building and thus on its value. The same applies if the property is not up to date in terms of energy efficiency or if a necessary modernization of the home is not carried out. If the owners use and live in the property themselves, this may not initially play a major role – but if it is planned as part of their retirement provision, a failure to renovate can have financially “painful” consequences.
Not a competitive price
Given the current high demand, the situation can be tempting to drive up the selling price. Sellers should always ask themselves the question: “Do I know the current value of my property?” After all, setting the price neither too high nor too low is crucial for a successful sale. Buyers looking online for a property within a certain budget may not even see the property if the price is unrealistic. A strategic price tag will ultimately attract more interested parties who can still drive up the price – for example in an organized bidding process. Conclusion: If the price is too high, this can significantly restrict competition. If it is too low, the target group of interested parties is distorted
Neglecting the need for renovation
Regular checks prevent major damage! If minor defects in properties are identified quickly and rectified just as quickly, the financial outlay for repairs usually remains low. From the inspection of radiators, floorboards, windows and doors to the light well, pipes and roof structures: With appropriate advice and a groundbreaking checklist, you as the owner will always be up to date. If a need for repair is identified during these inspections, they should be carried out as quickly as possible. Why? This is because the effort and costs are usually significantly lower than if the renovation is postponed to a later date. Especially in the case of a planned sale of the property, neglected investments take their toll. If the value of the building is to be increased in advance, a larger sum usually has to be invested.
Ignoring energy-efficient refurbishment
The energy-efficient refurbishment of old buildings is an issue that not only plays a role in the sale of real estate. Sustainable construction, investments in real estate with high sustainability standards and the promotion of green spaces, seepage areas and other climate-friendly measures are important challenges for municipalities and cantons – and have even been mandatory under certain conditions since the advent of the Swiss CO2 Act. Nevertheless, the climate efforts are also good news for owners who invest in real estate. After all, climate-friendly real estate remains attractive in the long term. Properties with a CO2-neutral heat pump, solar cells and good ventilation will become more and more important as time goes on. More and more people not only attach importance to living sustainably, but also see the necessity behind it. Failure to invest a few thousand francs in refurbishment can easily reduce the purchase price by a five-figure sum.
Lack of equipment standard
Modernization increases the value of the building! In addition to the energy-efficient refurbishment of the property, the comfort and interior design of the living spaces also play a major role. In addition to regular painting of the interior walls, the modernization of sanitary rooms, floors, balconies or terraces are also sensible measures that can have a positive impact on the value of a building. Of course, this also applies to the garden, the front garden or the entire outdoor area, as well as to the sauna, pool or other exclusive facilities. If all the components belonging to the property are regularly maintained and serviced or repaired as required, the value of the entire property is preserved and forms the perfect retirement provision in old age.
Missing out on innovation
Technological innovations have slowly but surely arrived in the real estate industry, with the pandemic changing the importance of a home and how real estate is viewed once and for all. There were only a few real estate agents who recognized even before the pandemic that virtual 360° tours would revolutionize real estate marketing. A major mistake in real estate sales is made by those who do not use these sophisticated technologies. According to the National Association of Realtors, virtual viewings are an effective way to help prospective buyers make a decision about purchasing a property. This is particularly evident in the fact that the percentage of wasted viewings is falling significantly. Virtual tours reduce the number of so-called sightseeing tourists by more than 40% and thus save everyone involved the most valuable of all goods, namely time – and nerves. The statistics also show that 75% of all customer decisions are positively influenced by virtual tours, with the tendency for a selective choice of “real prospects” in Switzerland increasing noticeably every year.
