Guide to Selling an Apartment

A lick of paint, a good clean, getting rid of superfluous objects, focusing on the apartment’s advantages… we offer some important tips that can help anyone who is selling their apartment.

The decision to sell an apartment can be a lengthy and sometimes exhausting process. But a little preparation, some simple actions, and an understanding of some key rules of the market can help speed things up to the benefit of sellers and buyers alike.

  • A basic paint job – holes, cracks, and stains on the walls are liable to deter potential buyers. It’s worth buying a little paint or whitewash, a brush, and some filling material to take care of these spots. In the case of mold stains, it’s important first of all to treat the mold with suitable materials before painting. The financial investment involved is small and the work is relatively straightforward and doesn’t even take too much time. In return, you can significantly improve the appearance of the apartment.
  • Cleaning and sorting out – a clean and orderly house or apartment plays an important role in creating a good first impression. Before potential buyers come for a visit, it’s worth taking a few minutes to clean up and arrange the furniture and belongings. Smell is also an important factor – it’s worth making sure that the apartment smells nice by using spray fragrances. You could even bake a cake in the oven to create a warm, homely smell. Just as important – make sure that the stairwell and the path leading to the building are kept clean to give the feeling of a pleasant and well-kept building.
  • Superfluous objects – potential buyers need to get a sense of the space in the apartment. A cluttered apartment looks smaller than its true dimensions. As far as possible, try to leave empty and clean space. You could move some items of furniture into other rooms or put them in a storeroom or bomb shelter – or even get rid of them!
  • Timetable and price – before putting your apartment on the market, decide on a price that reflects its value and the owner’s expectations, but is also realistic and attractive. Since you will probably have to bargain over the price, decide in advance what is the absolute bottom-line price that the owner is willing to accept. It’s also important to set a realistic timetable for vacating the apartment. If possible, try to be flexible about the departure date so that you can meet the needs of potential buyers.
  • Marketing the apartment – various methods can be used to sell an apartment, and you can even combine several methods: You may choose to use a realtor, to publish an advertisement in newspapers or online, to use social media websites, to put an announcement on the notice board in the building itself, and of course to let your friends and family know that you are selling the apartment and to ask them to pass the information on.
  • Internet advertisement – over the past few years, online advertisements have largely replaced advertisements in the press. Some of the online sites do not charge for the announcement, and even allow you to attach photographs – and of course a picture is worth a thousand words. It’s important to be aware that advertisements including one or more photos attract far more visits than text-only advertisements. After cleaning the apartment, take some photos with a simple home camera, or even with your smartphone. Choose a few clear, sharp photos of areas of the apartment that emphasize its strong points and attach them to your online advertisement.
  • Accentuate the positive – when marketing your apartment, you must emphasize its advantages and thereby “justify” your asking price. Certain features enhance the attractiveness of the apartment and can help speed up the selling process, and accordingly you should mention them in your marketing efforts., Examples include a new kitchen, Jacuzzi, a new solar heater, a sunlit balcony, an alarm system, a “smart home” system, and so forth. All of these features will create a good first impression and help the financial negotiations. If the apartment does not have any special or luxurious features, you may be able to emphasize advantages of location, such as proximity to shops, educational institutions, and parks.
  • NOP 38the numerous advantages of NOP 38 projects should play a part in marketing an apartment that has undergone, or is about to undergo, a project. An apartment where a NOP 38 project has already been completed has enhanced its value and provides an improved quality of life for the residents. An apartment that is due to undergo a NOP 38 projects offers purchasers a significant increase in its future value in a building offering modern design, an attractive appearance, and protection against earthquakes. A sign placed by the developer outside the building, preferably including a simulated picture showing how it will look after the project, emphasizes this potential and can enhance the appeal of the property.
  • Visits to the apartment – in the case of an apartment where people are living, it is worth allowing potential buyers to visit by themselves so that they can enjoy the pleasant, homely atmosphere. Conversely, in the case of an empty property, the best idea is to set a fixed “window” of hours when people can visit, thereby creating a visible flow of potential buyers. The knowledge that other people are interested can create a kind of psychological pressure that helps speed up the sales process.
  • An expert attorney – selling an apartment is a substantial and complicated transaction that demands professional knowledge and understanding in the real estate field. Before advertising the property, contact an attorney who specializes in the field so that s/he can supervise the entire process from start to finish. Naturally you will have to pay for this service, but this is not the place to cut corners: a sales transaction that goes wrong can be a painful and expensive experience.