IMMO TIPS

OUR IMMO TIPS ARE PUBLISHED REGULARLY IN OUR WEEKLY NEWSPAPER BASICS

Mag. Bernhard Grossruck

M+43 664 20 19 128
F+43 512 582 535
Ebernhard.grossruck@arealita.at

A GOOD TIME TO SELL IS WHEN OTHERS ARE BUYING

Dazzyingly high residential property prices, major projects that are sold out before the start of construction and due to indexation and market situation increasing rent prices reflect the current situation of the real estate market in Innsbruck. The lasting value of plots in good locations, with or without constructing housing, attract at present and generally since the financial crisis numerous buyers. Rightly, even though the further development of the market is not foreseeable, the value of a property is not only characterised by the material assets of plots or properties, but significantly also by supply and demand. Due to these above-named reasons the market of Innsbruck's residential properties currently forms a seller's market. In many cases people even speak about "concrete gold", but all that glitters is not gold.

Just as little as every potential buyer is in the end suitable as a buyer. For Comprehensive advice for property transactions is necessary for all persons involved on the seller's as well as the buyer's side. On the other hand the time to sell one's property has never been better, due to a "financial high-attitude flight" - figuratively speaking to liquefy the "concrete gold" and to profit from assets of a possible increase of the market value. Especially compact units like two-room apartments and garconnieres in Innsbruck's city centre are asked for as strong as hardly ever before. Besides, extremely popular are bigger units like three- and four-room apartments, row houses and single-family houses in the region "Innsbruck Land" and other good locations in Tyrol. Building plots in good locations are wanted by risk-averse, long-term thinking investors and project developers, who are looking for a small return on investment. As well as the purchase, the sale should not happen at any price - neither too low nor too high - and not with any potential buyer. As a real estate agent you don't want to pass on your favourite piece - with which one is still emotionally connected - to everyone. Also, because of rational and objective reasons, the purchase agreement-partner should be selected with care; especially because - at least for non-entrepreneurs - it may be the biggest financial transaction of their whole life.

Therefore, this is my Immotip for you: Turn to a cautious, experienced, professional and expert estate agent as a transaction-support, who knows about all eventualities, background noises and traps of this business and qualifies the right buyers for the matching properties - even in such a tense real estate market as Tyrol represents at the moment.

REAL ESTATE SALE – A MERE CHILDREN’S GAME, ISN’T IT?

At the beginning there is the sale opportunity of your apartment, house or other real estate property. At first neighbours are often asked if they are interested to buy. Then friends, acquaintances and circles of friends. Do you know the game "Chinese whispers"? A children game, but the term also stands for the falsification of news due to multiple passing on of information. Also in property sales news can be falsified due to unbundled passing on of news that aren't edited by an expert. The consequences? Actually good, potential buyers are startled. Incorrect data might lead to bad liabilities for you as an estate seller. Due to different, possibly falsified data of your property leads to misrepresentation and it's merciless "destruction" on the market. The consequences: price reduction and a so-called "auction downwards".

Therefore, this is my Immotip for you: Avoid a "Chinese whispers" game when selling your property. Turned to ONE property trustee of your choice, who- as a real estate agent - provides you with documents and data for your property sale, sights them expertly and passes them on bundled up. Therefore, the flow of communication stays in one hand. The impacts: the best purchase offer can be presented to you bundled. The communication takes place through an interface - and the pleasant side effect: You are spared the flood of hundreds of unmanageable e-mails.

 

Matthias Weger

M+43 664 63 51 408
F+43 512 582 535
Ematthias.weger@arealita.at

LIKE AN ICEBERG IN THE WATER

In hardly any other industry people question a connection with a specialist as much as in the real estate industry. In hardly any other industry private sellers and amateurs are so self-confident in thinking they can take the matter in their own hands and also bring it to a conclusion successfully. Because probably everyone has got the ability to lead flat viewings, maybe place one or two newspaper advertisements, and then in most instances the matter should be dealt with. Wrong!

The field of activity of a real estate agent may be represented best with the image of an iceberg in the water, where only 10 % are visible on the surface.

The remaining 90 % of the agent's work is not visible at first sight, neither for the seller nor the buyer. In most instances it's not visible for the seller what services the real estate agent has to render towards the potential buyer or buyer and vice versa. The correct and complete processing of an object requires significantly more work than it is assumed by a third party or to be taken over by oneself for temporal reasons. The job description of a real estate agent - which by way of comparison is a young industry - has not been established as such for nothing. Already the temporary aspect eliminates in most cases the option to manage this kind of work just "on the side".

So why not trust someone, who fills out his whole career with it? The question rests solely on trust. Regarding this, §14 para. 1 of the Estate Agents Act should be increasingly pointed out, because it says, that a real estate agent is obliged to take action when he is assigned to an order. Therefore, legitimately the real estate agent has to take action for you and you should rather see him or her as an exclusive representative for the mediation process of your property.

Therefore, this is my Immotip for you: Solely turn to a trustworthy company for the mediation of your property. If you doubt the reliability of a real estate agent, let him or her list a number of services that the agent has to render during the time of mediation and to which he or she obligates him- or herself.