When you’re trying to list your home on the market, there are always a few principles that can help you do it successfully. These universal tips can help you no matter where you’re located. Globally, the real estate business experienced an 8% compound annual growth rate (CAGR). It’s especially important that you have a strategy for villa luxury properties. Here are some common villa selling mistakes that you should avoid to get the best return on investment (ROI) from your property.
1. Not Getting an Appraisal
You have to know how much your property is worth if you’re going to set a reasonable price that earns you a profit. Getting a professional home appraisal is also an important part of the process.
With a professional home appraisal, you’ll get an expert who will inspect the ins and outs of the home to examine things like:
- The plumbing and electrical systems
- Heating Ventilation and Air Conditioning (HVAC) style and quality
- The condition of the roof and basement
- Square footage, landscaping, and curb appeal
- Proximity in the city and the quality of the neighbourhood
Getting the property appraised lets you make sure any deal with potential villa buyers is worthwhile. You will be able to name your price and will appreciate the end results that you get from listing your home on the market.
2. Failing to Set Goals
Too many people don’t approach the market without having an ironclad villa-selling strategy. Make sure you set your goals upfront so you can reverse-engineer them and determine what steps you need to stick to.
Some of the goals that you might set for selling a villa property include:
- Getting a certain price point
- Selling the property within a specific amount of time
- Doing a short-term property flip
- Selling the property to pay for another real estate investment
- Using certain marketing channels to post and sell your villa
Consider the location of the property when listing it so that you know what people in the area are looking for. Figure out which of your goals are the most critical so that your plan matches up for success.
3. Trying to Stage the Home Yourself
Home staging is one of the most important things you can do when you’re trying to market a property to the public. According to studies, 46% of buyers say that staging a living room is critically important to their purchasing decision.
Another 43% find the staging of the master bedroom necessary, while 35% appreciate the staging of the kitchen.
If you stage these rooms yourself, you’re missing a golden opportunity to make the improvements that buyers seek. A thorough home staging makes it more possible for you to fetch a fair villa price.
Some benefits of hiring a pro for your home staging include:
- Helping your buyers imagine living in the home
- Adding warmth and personality to the property
- Improving the villa’s perceived value
- Doubling down on the benefits of a virtual home staging
- Boosting the home sale price by 20% or more
If you look into the help of a home stager, you will get the results that you need without having to do any of the heavy lifting yourself.
4. Neglecting Important Repairs
People preparing villas for sale also often make the mistake of not handling the repairs that they should. You cut into your potential profits when you neglect important repairs like:
- A leaky roof
- Cracks in your basement and hardscapes
- Broken or damaged windows
- Problems with your plumbing fixtures
- A malfunctioning HVAC system
Villas naturally carry bigger price tags because they are luxury properties. Even these properties can lose lots of value if critical repairs go unchecked. This level of damage makes a property more expensive to maintain over the years.
Depending on the arrangement that you create with your buyers, you may be able to forego some repairs by reducing the sales price of the home.
Talk to some professionals in your area to find out which repairs are most essential.
5. You Didn’t Hire a Team of Pros
It’s always important that you have the help of some pros that can assist you with various parts of the home sale process. Start by hiring real estate agents that can oversee and facilitate the entire process on your behalf.
Working with a licenced agent will help you increase the profits that you generate, while also having a helping hand in staying organized and fielding offers.
It also helps to hire a real estate lawyer to make sure you are looking out for your legal interests.
6. Doing Subpar or No Marketing
Make sure that you’re also doing everything that you can to handle your marketing. Advertising villas for sale will require an understanding of the market, social media, and which listing sites are the best for your particular property.
The more time you put into your postings, the way you use multimedia, and the leads that you generate with search engine optimization (SEO), the more likely you are to get a good deal.
7. Jumping on the First Offer
Finally, never make the mistake of jumping at the first offer that comes your way. Test the market and field several offers so that you can weigh them against each other.
This helps you learn the market and make sure your villa sale is profitable.
Avoid These Villa Selling Mistakes
When you can avoid some common villa selling mistakes, it’s easy to get a good return on your investment. Take the time you need to find pros that you can work with.
Choose Marbella Real Estate can help you with selling your property. To get in touch, send us a message online or call us at +34-711-01-67-35.