HOW TO SELL YOUR PROPERTY IN MARBELLA?
HOW TO SELL YOUR PROPERTY IN MARBELLA?
To sell a property is a know-how, a talent. Real estate market in Marbella has always been competitive enough, and a lot of sellers lacking of local practices should let theirself be led by experts when they want sell their properties.
Nowadays, more than ever, selling a property in the resident tourism areas as Andalusia, and more especially Marbella, needs a big experience. About this market, we know it better than anybody.
Marbella, does not have a big capacity, like big capitals. It is a small town with a little more than 140.000 residents, but which doubles or triples its potential in high season.
The most of buyers are interested in the acquisition of a second or third residence, in other words, interested in a luxury object, and not in a main home.
In Marbella, a property can remain a few weeks in the market for sale, but in the same way it can remain for several years if the right sale factors are not properly established from the beginning, such as pricing (accordingly to its condition and general appeal), its location and of course the real level of interest of the owner to sell.
FIXING THE GOOD STARTING PRICE
Who says sale, can also says strategy, and therefore the elaboration of a plan. A good price of starting is practically a sure sale. In plain language, if it is too high, the owner will have few visitors and more time will pass, more « rusty » the property will be. If it is sold too low, it is an achievement to his property. Fixing the proper price of starting is the most important factor at the moment of selling a property, of course, the result will be a brilliant study of market.
Do not fix a price according to what you would like but you would have to consider similar sales and their price. Ask yourself if your property is unique, and if this is the case, would be your price higher?
The more your property is exceptional and remarkable, the more your price will be high and will serve as a process of negotiation at the time of sale.
On the other hand, if your property is more clasic, the result will be to fix a price more adapted to the market.
AVOID TO OFFER A « NET » PRICE
It is necessary to avoid put mistrust in the buyer’s eyes. The price should be the same in all estate agencies. The buyer should not be able to find in no case in specialized sites a property whose price will be different in other agency. In this case, it means to throw away all the effort to plan the strategy.
Smarts sellers should team up with their agents and support them. In the same way that they hope be supported and advised by their intermediary. A starting price unique will be fixed by the owner, including too the corresponding commission.
Therefore, in any case, do not let an agent to seduce you and encourage you to offer your property for sale with a net price. This agent will only take care of their own interests and not of yours.
GRANT OR NOT EXCLUSIVE RIGHTS
Is it necessary to grant the exclusive rights to sale to only an unique agent? The motivation that you will create granting an exclusivity agreement to an agent will do it to feel much more responsible face to face with you as owner, which will not happen when the exclusive rights do not exist. The agent has to manage and make essential arrangements with reference to publicity and the distribution to the others agents. HE BECOMES YOUR ONLY DISTRIBUTOR. In short, you have the right to demand a service more personalised from an exclusive agent than if you put your property in the wallet of many agents.
No reputation agency will not accept to take a property in agency,if the price of starting does not correspond to the reality or does not very far.?
A good agent assists to you to the beginning till the end. Don’t forget that is him who has the contacts, don’t you. But at all events, it’s the seller who has to choose the option that is better to him.
The common commission in a touristic area like Marbella is between 5% and 10% plus VAT. If we sign a totally exclusive contract, the commision will be 10%.
IN THIS CASE, YOU WILL HAVE AN UNIQUE REPRESENTATIVE: US. Therefore, the volume of generated job consequently, is higher than in a property shared with other agencies (publicity, management, etc…). The fees are well deserved for negotiators.
For properties whose sale amount is less than 300 000 euros, the common practice is to request a higher percentage fee in order to allocate same resources to promote this kind of properties than the most expensive ones.
YOUR AGENT IS NOT A DOOR OPENER. ALLOCATES MANY TIME AND ENERGY TO FIND A GOOD TARGET BUYER.
QUESTIONS THAT SELLERS ASK
– Is my property for sale for a long time and it receives just a few visits?
Unless your property is unique and particular (in which case buyers are very target), if your property has not success, do not search very far away: you have overvalued your property and the price is probably higher than the real value. A property with a good price and with appropriate publicity would have to receive regular visits. Do not forget: selling a property is a question of numbers. The more visits it receives, the more probably it will finish being a client’s interest.
– I need to do an urgent sale. What can I do?
Cut the price, but let a qualified agent adviced you to suggest a price enough low to attract the buyers, but not too much. Keep in mind that agent’s objective is not to sell a property, but to sell it more expensive as possible, the more expensive he sells , the higher his commission will be.
– Starting price ? What margin of negotiation should I include in the price ??
Speak with your agent, give him all the cards in hand. The price, delays, defects and qualities of the house. In a nutshell, your position. You will find together the fair price, taking into account a margin of negotiation.
SOME ADVISE FROM EXPERTS
– Your property should be offered with the best quality.
The first impression counts a lot. When your property is visited, make sure that it is well illuminated. Photos’ quality taken by your agent or yourself should be flawless. If you have proposed your property to many estate agencies, you should be able to give them these photos.
If the property needs some remodeling to improve its general appearance, it is recommended to do it before setting up.
Although it is obvious, an appropriate house is a desirable home.
Resquest to your agent to install a commercial billboard.
A billboard increases in a considerable way the number of requested visits.
Potential clients walk first in front of the agencies contacts. Refuse the contribution of a sign it only will slow down, even will block one of the best ways to arouse interest in the market.
– Organise yourself for the visits.
Your agent should be able to visit yor property in every moment, make sure that he will propose first the properties that he has the key or a housekeeper near.
Make sure you know well the taxes and fiscal obligations before putting their property for sale. Consult an attorney, tax advisor and see the possible options to avoid surprises at the negotiation time.
You and your agent are a team to manage the commercial side and the negotiation of a possible sale. Once you have accepted the offer, your lawyer will take over (in coordination with your agent if necessary) to prepare the sales contract and supervise up to the eventual conclusion. If you are often abroad, it is desirable to grant power of attorney to your lawyer enabling him to sign a private contract according to your written instructions.
– Important points during the negotiation.
Does the purchaser expect to receive a counteroffer from your side or has he made an unique offer ?
Has he other properties in sight?
Is reasonable this offer?
All the details should be specified in the offer: price, date of the contract, deposit, date of property delivery, transparency regarding to the facilities, equipment and furniture. These are the points to be agreed from the beginning and even before giving instructions to the lawyers.
Do not be under pressure when you take the decision to accept an offer. A good agent, after several visits of your property, it will give you your options and his opinion with all honesty.
TO SUM UP, selling a property may be so easy or so complicated as any other personal task. The best help for you will be the competence, the honesty and professionalism of the agents, lawyers and tax consultants.