The ten most common mistakes to avoid when selling a valuable property in Milan

Milan is one of the most dynamic and wealthy cities in Europe, with a very competitive and constantly growing luxury real estate market. If you are thinking of selling your property in the Milanese city, you need to be careful not to make some mistakes that could jeopardize your success and profit. Here are the ten most common mistakes to avoid: 

1. Do not make an accurate appraisal of the house.
Price is one of the most important elements in attracting potential buyers and negotiating at your best. If the price is too high, you may drive away buyers and stay on the market too long. If the price were too low, you could of course speed up (even excessively) the time it takes to sell, or else miss the opportunity to maximize your gain. To make an accurate assessment of your residence, you should consider several factors, such as location, condition, size, features, supply and demand for similar houses in the area, interest rate level, and economic and social climate.

2. Not properly preparing the home for sale.
First impressions are crucial to winning over potential buyers and making them fall in love with your apartment. For this reason, you must properly prepare the property for sale, taking care of every detail and making it as attractive and welcoming as possible. Some actions you can take are to repair any damage or defects, clean and tidy each room, remove personal items and excess furnishings, enhance the space and brightness, and add a few touches of style and color.

3. Not using an effective marketing strategy.
To sell a valuable property in Milan, it is not enough to put up a "for sale" sign or post an ad on a generic site. You should use an effective marketing strategy and take advantage of new technologies, which allow you to reach your target audience and stand out from the competition. The advice is to improve the attractiveness of the house, thanks to tools such as professional photos and videos, virtual tours, 3D tours, which allow you to show the residence in a realistic and engaging way; use social media and specialized sites for advertising promotion; create a dedicated website with all the information and contacts, and much more.

4. Not being flexible and helpful.
Selling a luxury home takes time, patience, and dedication. You must be flexible and available to respond to inquiries from potential buyers at different times, to show your home, and to receive feedback and offers. If you were too rigid and unavailable, you could miss opportunities and lengthen the time to sell. You must be ready to cooperate with potential buyers and find mutually beneficial solutions.

5. Not knowing the regulations and taxes related to the sale.
The sale also has legal and tax implications that you must be aware of and comply with. If you were not properly informed you could face penalties, delays or problems with the deed. Some examples to consider are: the certificate of habitability, the energy performance certificate, cadastral and urban planning compliance, and the taxes imposed on the buyer, for example, for stately homes (A1).

6. Do not rely on a qualified real estate consultant.
If you thought of selling your dwelling on your own, without the help of a qualified real estate consultant, you might save on the commission, but you would also risk losing in terms of value, time, quality, and security. An excellent real estate consultant offers you several advantages, such as: a professional appraisal based on objective data and comparisons with other similar homes recently sold in the area, a network of contacts and potential clients, effective management of visits and negotiations, a customized marketing strategy and analysis of the feedback from tools such as CRM, big data, and artificial intelligence, which allow you to monitor and adapt communication based on the results, and an integration of services such as legal, technical, and tax advice, in fact, a guarantee of transparency and seriousness.

7. Disregard the international market.
Milan is a cosmopolitan city and attractive to foreign buyers. If you want to expand your sales opportunities and reach a wider and more diverse audience, you should take into account the international market and adapt your offer to its needs and preferences. Some useful ideas may be: translating your listing into English and other languages; offering additional services such as after-sales assistance or property management; adapting your communication to foreign buyers, using clear and understandable language, avoiding technical or ambiguous terms; providing complete and accurate information about the property and the Italian context; and showing openness and willingness to other cultures and customs.

8. Failure to value the neighborhood and services.
The home is not only a piece of real estate, but also a place to live and relate. For this reason, it is also important to value the neighborhood and the services it offers. Context is a key element for potential buyers, who want to know if it is safe, quiet, well-connected, and full of commercial and cultural activities. Amenities are a key factor in quality of life, such as proximity to schools, hospitals, parks, public transportation. You should therefore emphasize these aspects in your listing and during visits.

9. Not being honest and transparent.
Selling a home requires mutual trust and respect between seller and buyer. If you were not honest and transparent, you could damage your reputation and create problems, including legal ones. You should therefore be honest about all the features of your property, both positive and negative. Finally, you should provide all necessary documentation and answer questions clearly and truthfully.

10. Don't follow the process to the end.
Selling is not just about finding an interested buyer and accepting his offer. You should follow the process to the end, taking care of all the bureaucratic and practical aspects involved, such as finding documentation and certifications that are in order and comply with current regulations. You should then enter into a preliminary contract with the buyer, possibly verifying the buyer's creditworthiness, interface with the buyer's notary for the deed, and hand over the documents and keys.

These are the ten most common mistakes to avoid when selling a valuable home in Milan. If you avoid them, you will have a better chance of selling your home quickly, safely and profitably. On the other hand, if you need professional and personalized advice, contact me and I will be happy to help you. Together we will find the best solution for your needs. See you soon!