Selling the house in Bukovice town was an unforgettable experience. It was definitely one of the harder sales, although the truth is that there are not that many easy ones, even though it might seem at first glance that every sale is exactly the same. The reality, of course, is quite different. Whether because of the type of property, the location and local conditions, or the legal and technical condition of the property.
The house in Bukovice town is of an older date, i.e. we are talking about a period older than the First Republic. I admit that it was the First Republic that I got a bit carried away when I called the house a First Republic villa in the video. In the end, however, this dit not really matter, and as a bonus, this particular era of our country became the topic of conversation between me and a commenter on Facebook who came across my ad regarding the house I was selling, and who fortunately was one of those people with whom one could have a fine, positive debate on this social network. Which was a nice change, because in the case of promoted properties in this environment it is usually the opposite.
However, even though the house had undergone a number of renovations over many years, it was necessary to acknowledge its drawbacks. Among them, for example, its location on a main and relatively busy road. However, one of its other disadvantages was the fact of a damp cellar due to the fact that the house was not properly insulated. And to make the sale even a little more difficult, we started it at a time of constant increases in mortgage interest rates and, along with that, an increasing decline in the number of potential buyers who would finance the house with a mortgage. However, the fact that the house is relatively large, i.e. more demanding to heat, also played a role, and this type of property, alongside flats on housing estates, has become the most affected group of properties offered for sale in recent months.
Of course, we have not underestimated the preparation. So we made a trip of about two hours from Prague with the team, so that the home stager Denisa Stastkova could use her skills to highlight the house’s maximum potential, while the cameraman and photographer, Jordan Dimov, documented all her work. Together with them, Tomas Babiak was also involved, taking care of the floor plans and 3D virtual tours. When everything was ready, the sale began. However, there were not many potential buyers, although in addition to advertising on real estate servers, the marketing specialist David Stasek, who promotes properties for sale on social media in order to raise awareness of the fact that a particular property in a given location is for sale, did his best. Social networks are not to be underestimated, because despite the large number of so-called “haters” they have a huge reach, and if one dispenses with the useless comments of people who obviously have nothing better to do, the truth remains that one advertising campaign can reach tens of thousands of potential buyers.
But time passed and with it the cooling of the market was more and more noticeable. The worst period came in the fall (2022) when sales perhaps came to a complete halt. This was not just my case. The vast majority of colleagues (whether from the REMAX network or from other offices) were experiencing the same thing. And we had to make a price concession because in a situation where constant paid advertising on soc. networks, regular topping on real estate servers and even banner ads, we could hardly go against the tide and fight the market that was experiencing a smooth downward trend (we are talking about tens of percent in terms of discounts compared to where property prices were at the turn of 2021 and 2022, i.e. at the real estate peak).
As far as tours are concerned, we have come to the conclusion that if people from Prague come, they won’t argue about the price at all, but the problem will be the distance from their families and friends. As for the locals, they won’t be willing to accept the price. Some of the tours were pleasant, some were too strange. One prospective buyer made us think so much by her behaviour that we had a technical report prepared, where the technical condition of the property was completely broken down in case she was interested in booking after all, so that she would not try to drag the owner through the courts in later years over possible so-called “hidden defects”. The message paid off in the end, however, because until then I had warned all the interested parties about the technical condition of the property, whereas since receiving this report I forwarded it to everyone before the inspection so that they would realistically know what they would eventually go into.
We didn’t give up. And in the end, we did the right thing. After several months of selling, we got a call from a buyer who came to see the house with his partner from Pilsen location, where they were planning to move from. We arranged the viewing for Sunday. Whether it was a coincidence or not, I have no idea, but I joked with him during the phone call that I had made the vast majority of sales thanks to the Sunday viewings. After the tour was completed, the buyer called me within a couple of days, confirmed his interest, and made sure to remind me that I lived up to my promise to sell on Sunday.
After that, things went relatively smoothly. After the reservation was signed, the purchase contract was signed and then happened one of the fastest handovers I have ever experienced, because the buyers had planned everything so that they would move from Pilsen straight to Bukovice. After the handover, we had a really great late lunch with the sellers, and later on we started another real estate adventure, because after the sale of the house was done, my clients started to deal with the purchase of a new home.
What a great story! But as this story shows, you really must not underestimate any real estate transaction. And even when everything seems to be well grasped, circumstances can still change so dramatically that you can’t fight them, but then you have to adapt, even if it’s not always what you’d wish for. Therefore, if you are going to sell your property as well, call me and let’s consult everything thoroughly. Then I will take care of everything so you don’t have to!