Property sale

A successful property sale starts with the right price

Selling property involves more than publishing a listing. The outcome of an apartment, house, land or commercial property sale depends on the location, condition, documentation, competing offers and actual buyer demand. REI24 reviews the essential information about the property and helps determine an asking price that reflects both the owner's objective and current market conditions.

An excessive asking price can extend the sales period and reduce the number of serious enquiries. A price set too low can leave part of the property's value unrealised. Our pricing recommendation is therefore explained using comparable properties and the characteristics of the specific asset, rather than a general assumption or one advertised square-metre price.

What an estate agent does during the sales process

An estate agent prepares the presentation, coordinates photography and the sales description, answers enquiries and arranges viewings. When a potential buyer is found, the prerequisites for the transaction are reviewed, negotiations are conducted and the information required by the notary is collected. The owner receives a clear overview of the work completed and the feedback received from buyers.

The service can be used to sell apartments, houses, land, garages and commercial property in Tallinn, Harju County, Tartu, Pärnu, Narva and Jõhvi. The exact scope of work, marketing tools and fee are agreed in the brokerage contract before work begins.

Documents and transaction preparation

Before a property is offered for sale, the ownership information, rights of use, registered encumbrances and any differences between the registers and the actual condition should be checked. Where necessary, we request additional documents or identify matters that could affect a buyer's decision, payment arrangements or the notarial transaction. REI24 does not replace a lawyer, certified valuer or technical expert, but helps coordinate the participants and the steps required for the sale.

What to prepare for the first conversation

A useful first conversation starts with your objective. You may be moving to another city, selling an inherited apartment, changing the size of your home or ending an investment. Tell the agent whether a particular date matters and whether you will continue living in the property during marketing. These details help distinguish a preferred timetable from a genuine deadline. If several owners are involved, identify who will coordinate communication and how the others will approve the proposed price and conditions.

For an initial discussion, provide the address, property type, approximate floor area, room count and your preferred price. Photographs are optional. A recent floor plan, a brief description of improvements and information about existing occupants make the discussion more useful, but you do not need to assemble a complete transaction file before making contact. Explain any uncertain point openly. A missing document can be investigated; an incorrect statement copied into an advertisement can create avoidable confusion later.

How to compare the price opinion and service proposal

The preliminary selling-price range and the estate agency proposal answer different questions. The price range concerns what a buyer might pay for the property under stated assumptions. The proposal describes the agent’s work and its cost. Read both together, but do not assume that the upper end of a range is a guaranteed result or that every marketing option is included in the fee. Ask which comparable properties were considered and what information still needs to be checked.

A practical service proposal identifies the person responsible, the agreed marketing channels, the viewing arrangements, reporting frequency, fee calculation and payment trigger. It should also explain how additional photography or other optional work is approved. Before signing, discuss the duration of the engagement, any exclusivity, termination arrangements and what happens if you introduce a buyer yourself. Comparing these points is more informative than comparing a percentage in isolation. The total scope should be understandable without relying on a verbal promise.

Preparing a listing that answers buyers’ questions

A buyer needs a clear account of the property rather than a long list of flattering adjectives. Record the layout, floor area source, heating arrangement, storage and parking rights, condition and what stays in the sale. Separate a private parking space from parking used by custom. Distinguish an enclosed balcony from internal living space. Where plans and the current layout differ, identify the difference and establish what documentation is available before the listing suggests that everything has been approved.

The agreed presentation can include photographs, a floor plan and a description tailored to the likely buyer. More expensive formats, including drone video or a virtual tour, are considered when they solve a particular presentation problem and their cost is agreed. A compact apartment may benefit more from an accurate plan and clear running-cost information than from extra promotional formats. Personal photographs, identity documents and other occupants’ belongings should be considered when preparing the home for photography.

Reading the market response during the sale

Agree how feedback will be collected after viewings. Useful feedback distinguishes questions about price from concerns about layout, condition, documentation or the timing of handover. A viewing count on its own does not explain why a property has not sold. Review the quality of enquiries, repeated objections and the differences between your property and available alternatives. This gives the owner a basis for deciding whether to adjust the presentation, provide missing evidence, change access arrangements or reconsider the asking price.

A price change should be an explicit owner decision supported by the information available at that time. It should not happen automatically because a predetermined number of days has passed. Likewise, a long marketing period does not prove that every lower offer is reasonable. Revisit the assumptions behind the original price range and compare the net outcome and timetable of actual proposals. Keep a record of agreed changes so that advertisements and conversations with buyers remain consistent.

Moving from an offer to a documented transaction

Compare offers on more than headline price. Consider when the buyer is ready to sign, when the purchase money will be available, what investigations remain, the proposed handover date and any conditions attached to the offer. If a buyer asks to reserve the property, agree the reservation terms before accepting money or stopping other viewings. The name of a document does not determine its legal effect; obligations concerning a property transfer should be discussed with the notary when their required form is uncertain.

Before the notarial appointment, prepare a concise list of the terms already agreed and of matters still unresolved. Include the property being transferred, the purchase price, payment arrangements, movable items, disclosed defects, occupancy and the division of expenses. After signing, keep the handover organised: record keys, meter readings, equipment, documents and the actual condition in a written handover record. The brokerage engagement should make clear what assistance continues through this final stage and who handles any question that arises afterwards.