Owning a house is like having a nest egg. It’s an investment that can be cashed  in when the owner decides to lease it or sell it at a profit.

Pesatalk previously covered tips on buying a home. This week, we take a look at selling personal real estate property. Here’s what the professionals say you should do before you fall prey to some of the more common mistakes other sellers make:

1. Hire a Professional

Real Estate, like any other business, requires a certain amount of expertise. As much as most people would prefer to cut off the middle man, a professional opinion is worth much more than a half-baked transaction.

Real Estate agents are also crucial in securing the necessary paper-work. Instead of chasing lawyers and government permits, a buyer can leave all the hassle of documentation to a veteran. With this in mind, Kenya’s Property Guide notes that other technicalities like Stamp Duty, Legal Fees and Registration are the sole responsibility of the buyer.

The seller, however, is expected to pay an Agent’s Commission of about 1.25% of the total transaction cost. Other contractual obligations are covered in section V of the Land Bill 2012.

2. Assess the Market

Competition is a major part of any business and real estate is no stranger to volatile prices. Given the country’s ongoing housing development boom, it pays to know your target market. Selling to luxury-seeking clients is only an option if the product fits the bill. With Hass Consult reporting a demand for over 200,000 units a year and about half of the country’s urban population in desperate need of decent, affordable housing, not everyone can own an in-door swimming pool or a gym.

For those with passable stone structures, A4 Architect advises sellers to appeal to middle or higher income earners. “The Market decides the price and no one else,” says Sintia Petrosian Gusmao, one of Washington’s top Real Estate Agents.

3. Estimate the Value of the House

As much as every desperate seller wants to set their prices as high as possible, home-owners need to be realistic. The Kenya Homes Guide advises these non-professional real estate dealers to estimate the value of the house by comparing the price and square footage to other similar units in the general area.

Certified residential appraisers Like Real Appraisal Limited or Dominion Valuers can estimate the value of the house and make conclusions based on the current state of the structure. This way, the home owner knows whether or not they can maximize on profit.

4. Clean the Exterior

According to Property Kenya, one of the country’s real estate guides, it pays to have a beautiful exterior. Like any other customers, home-owners are driven by vanity. If it looks good, it must be good. Cleaning gutters or sweeping the entrance could mean the difference between a sale and a rejection.

5. Paint the Interior

A clean finish makes the interior part of a home look brand new. Property Kenya even recommends painting walls with neutral shades such as white or cream. Buyers tend to frown upon flamboyant colours, says a report by The National Association of Realtors.

6. Change the Light Fixtures

Every home is prone to wear and tear. Some of the first things to fall are the pieces that hold a house’s light fixtures. In a country where blackouts take place at random intervals, bulbs can burn out, causing the fixtures to carry scorch marks. What’s more, constantly changing light bulbs causes the fixtures to lose their luster.

In such cases, a simple chandelier can give the buyer a sense of sophistication.  Burlington Real Estate states that smart home-owners use chandeliers to increase the value of their homes. Just because something looks expensive, it doesn’t mean it has to be. The seller can hike the initial price of a home based solely on the light fixtures.

7. Do Some Landscaping

Packaging is a major part of selling any product. Anything wrapped in a second-hand plastic bag can hardly compare to the same product in an intricate package.

In this particular case, trimming some hedges and creating a sense of uniformity makes a house look appealing from the outside. According to a report by the Denver Post, the interior doesn't matter unless the buyer actually walks through the door. In which case, overgrown plant life needs to be cut down.

8. Do Some Marketing

“The honey in the flower or the lotus does not crave the bees; They do not plead with the bees to come. Since they have tasted the sweetness, they themselves search for the flowers and rush in,” says Indian Spiritual Leader, Sri Sathya Sai Baba.

This only applies to already established real estate developers like Housing Finance and Hass Consult. For a first-time seller, E-Marketing Kenya notes that a bit of advertising can go a long way.

With data from e-mails alone travelling at two-thirds the speed of light, sending information out to the public has never been easier. Add the social media and a few other online networks and something as technical as marketing becomes so much easier.