What you need to know about selling your property in Germany
Looking to sell your property in Germany? A few factors, including having it properly valued, are key. Invest AB, a real estate agency based in the heart of Berlin, explains what you need to know.
Many expats working in Germany ended up buying their own property, such as an apartment or house, after a few years. But what happens when you decide to live in another city or country and want to sell your property?
Knowing the value of your property
Above all, it’s especially important for you to know the value of your property in Germany. Apart from doing a bit of research on your own, the best way to get a handle on this is to work with a professional real estate agency.
Acting as your partner, a qualified agent will be able to guide you through the selling process in Germany, share some market insights with you and give you a realistic valuation of your property.
The real estate appraisal
The foundation for the sale of your property is laid by the real estate appraisal, also called the value assessment. For the appraisal, your property is subjected to a thorough examination, so that the agent can determine a sales value. This allows the house or apartment to be marketed accurately, at the highest possible market price.
During the valuation process, you will get some insights about the right time to put your property on the market. The agent might also suggest small renovations and refurbishments that could increase the value.
A professional real estate appraisal consists of a condominium inspection, as well as several other inspections, including a SWOT analysis, which looks at the strengths, weaknesses, opportunities and threats presented by the apartment or house.
The market situation
In addition, a comparative analysis is carried out with similar properties that have already been sold in the area. This is because the price of a property depends not only on the property itself but also on the market situation. High demand coupled with low supply leads to rising prices - a phenomenon that can be seen in all of Germany’s biggest cities, where real estate prices and rents have been rising for years.
People are naturally attracted to these areas because of the high quality of life, the political situation, and Germany’s relative economic strength - and so it’s natural for prices to rise. At the same time, the real estate market in these cities was undervalued for a long time, so it’s not really accurate yet to speak of a real estate bubble.
The marketing strategy
Once the price of your property has been determined, the valuation of the property serves as an important basis for setting up the right marketing strategy. Every apartment or house is unique. Thus an individual selling and marketing strategy applies.
The appropriate selection of photos and floor plans, appealing text, and a targeted customer approach are all important factors for success. Some properties should also be marketed discreetly (off-market). In this case, it’s worthwhile to take advantage of your real estate agent’s existing customer base.
In the case of public marketing, interested parties must be filtered after the initial contact. Suitable prospective buyers should visit your property promptly. For a smooth sale, it is worthwhile to have the relevant documents professionally prepared and to mandate a competent real estate agent with the sale of the property in Germany.
The real estate agency Invest AB would be happy to assist you in the process of selling your apartment in Germany. Their real estate experts will happily evaluate your property, free of charge and without obligation. Making use of their international network of customers and experts, and specially-tailored marketing strategies, they can guarantee a sale according to your expectations.