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A Three-Room Apartment on Mapu Street
What's the Story?
Yuval had an apartment for sale on Mapu Street, in one of the "White City’s" Bauhaus buildings that make our city so special. When I asked Yuval about the price, he quoted an amount that was very high. When I asked him on what he based that amount, he said the Madlan website. I explained to him that, while the data on Madlan is meant to assist in setting prices, it is not based on basic information. Madlan does not know if the apartments sold are refurbished or not, if they face the front or the back of their building, the condition of the building if there are building rights, and so on. I warned him that setting too high a price is liable to ruin his chance of selling it. Property that sits too long on the sales list loses market value. I saw that this was difficult for Yuval to accept and we agreed on the following plan: the first few weeks we would go with the high price and do a full-press marketing effort; but if we see this is not successful, we would lower the price. Yuval’s flat got the full treatment (newspaper, Facebook, real estate agents’ What’s-App groups, etc.). Nothing happened, as I had suspected. As agreed, we lowered the asking price, numerous offers arrived, and the apartment was sold.
Real Estate Tip
In order to get the best possible price when selling your apartment, it is important to set a realistic amount. Otherwise, you will risk losing hundreds and even thousands of shekels. Also, pay attention to something else: When you check Madlan or other sites, the price per square meter is based on the size listed in the Property Registry. In 95% of the cases, this size is smaller than the real area of the flat, which raises the price per meter.
In Yuval's Words
“Ran helped me sell my flat in Tel Aviv. From the first meeting, I gave him the key to the flat and he did all the work himself without my having to show the apartment every time there was a potential buyer. This saved me lots of time and from missing work hours. Also, once negotiations started with potential buyers, Ron helped me with his personal experience to close the sale in good conditions and helped navigate the bureaucracy to register the purchase. I warmly recommend working with Ron both for his professional skills and dependable service from first meeting to signing the contract.”