Selling Property in Spain - Important information for you
How to sell a house. Your starting point within your sales strategy should be your asking price. If you market your home over its value, people will not bother to view it, if you under-value it you could be giving away some of your assets. The right marketing price is the most important consideration when selling in Spain. Find out what similar properties in the area are selling for and offer yours at a competitive price. Remember - your property is only worth what someone will pay for it!
An experienced sales company will prove to be an invaluable source for market information and advice regarding a proper valuation and asking price for your property. You will need to market your home for as much as you can without it appearing to be over-priced by the viewing clients. You could always try to advertise at a high price and hope that the Spanish market shifts in your favour, however this may hinder your chances of a quick sale and gain less interest from buyers. When selling your property in Spain, It is also essential to give thought to your agents commission when setting your asking price.
When choosing an agent to help you sell your property in Spain, ask beforehand what commission they will be adding to your asking price. Check their advertising to make sure that what they tell you is correct. Agents can add anything between 2.5% and a massive 25 or even 30%!
A good sales plan should result in numerous viewings every month. Finding a purchaser for your property is a numbers game. The more people who view the greater the chance of selling. It is easier for a seller to refuse offers under the asking place if they are having frequent viewings of their Spanish property.
Hints and Tips for selling your property in Spain
Always insist that the selling agent hangs a for sale sign on your property - this will help generate interest and leads.
When prospective buyers are coming to view, make sure it is light and airy by opening blinds and windows
Make sure all repairs needed are done before your first prospective visits
Find a good competent lawyer whom you can give power of attorney in your absence
Avoid agents who try to encourage you to list your property on a net basis
Above all do not allow yourself to feel pressured when deciding whether or not to accept an offer, a good agent will never do this but simply point out to you your options.
A couple of years ago I advertised my own property on the Orihuela Costa for sale through a large well know company in the hope that their international marketing would get me a quick sale. I personally wanted 160,000 Euros; and was concerned that high commissions would hinder the sale of my house. The advertising agents were reluctant to inform me of the selling price advertised by them ON MY OWN PROPERTY! Eventually I found it advertised on their website with 23,000 Euros added to my price, I then changed to a much smaller company and my property sold almost immediately.
If you fancy the idea of selling privately, be prepared to wait for people to come knocking. Most foreigners buying in Spain would still prefer to buy through an agent. As in the UK, if you have your property marketed through an agent, but a buyer previously referred by that agent returns hoping for a private sale, you are still liable for the agents commission
To summarize: - When you are selling don’t expect it to be an easy task - at present it is a buyers market here in Spain and many owners are having to accept much lower offers than they would have this time last year. Honest, reliable, competent and reputable agents can go a long way with helping to sell your home. Our company can go a long way in helping you manage the sale, objectively, easily and as stress free as possible. Obviously, you don’t want to take a loss on your property, but competitive pricing and a good agent will win you that sale over other similar properties.
