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.
Presenting Your Home for Sale.
First impressions are the most important, and buyers often return to buy the first Marbella property that made them feel comfortable, secure and at home. If your villa or apartment in Marbella looks well cared for, buyers assume that even the things they can’t see at first glance are also well maintained.
But if your Marbella villa has peeling paint, cracks in the plaster, and worst of all, damp patches anywhere on the walls, buyers will assume the property has major structural problems.
You don’t have to spend a fortune, but minor cosmetic repairs will greatly increase the instant appeal of your Marbella property to a home buyer.
The Value of Minor Repairs
The less you have to spend to prepare your villa in Marbella for resale, the better. Major improvements (such as new roof, or a redesigned kitchen) rarely recoup their cost from a buyer.
Your money is much better spent making inexpensive, cosmetic touch ups your property in Marbella for sale.
For example: repainting rooms with peeling paint, replacing broken tiles, tidying up the garden, are things which cost relatively little compared to the value of giving the overall effect of a well cared for Marbella property.
Your Listing Agent knows what buyers’ in your area value most, and can advise you on improvements to make to your resale villa or apartment in Marbella. Don’t hesitate to ask for their opinion. They will be glad to share their knowledge with you.
First Impressions Appeal
It’s a numbers game. You need the maximum number of potential buyers to view your home. If your Marbella villa lacks immediate visual appeal from outside, potential buyers may not even want to enter and view this Marbella property. With a little effort you can improve your home’s appeal and increase the buyer walk-throughs by:
Cutting, edging and regularly watering the lawn;
Trimming hedges, weeding lawns and flowerbeds, and pruning trees;
Repairing cracks and broken tiles in steps, paths, walls and patios;
Repairing peeling paint on doors and windows;
Cleaning and aligning gutters and drain pipes;
Replacing loose or broken roof tiles;
Repaint the front door and place pot plants beside it;
Keep the garage door closed.
Create the Right Interior Atmosphere
Anything you can do to make buyers feel comfortable in your Marbella property is worth the effort. Whilst the outside appearance gets their attention, the interior atmosphere of your home will make or break a sale. Ask a builder for a few repairs and just tidying up can get you closer to making the sale:
Cleaning every room in your Marbella property and tidying the daily clutter. This alone will make your property in Marbella appear bigger and brighter.
Repainting soiled or strongly coloured walls in a neutral shade; white, off-white or beige, and keeping this neutral theme throughout the house, may not be your cup of tea, but it will make the rooms seem bigger and it is more acceptable to a greater number of people.
Check for cracks, leaks, and signs of dampness everywhere in the house. Dampness is the most off-putting of all defects. In villas in Marbella, it is not normally a major structural problem. Most likely the result of broken roof tiles, or a broken pipe in the wall, easily repaired. However, most buyers are from northern Europe where damp patches suggest major defects in a property, costing lots of money to put right. They are unlikely to make an offer on a property with obvious damp problems.
Repair cracks, holes or damage to plaster, paint, and tiles.
Repair broken or cracked windowpanes, moldings and other woodwork.
Check plumbing, heating, air conditioning, and alarm systems for correct functioning.
Repair dripping taps and showerheads.
Buying showy new towels for the bathrooms (to be brought out only when prospective buyers are on the way) is an effective touch.
LuxuryForSale.Properties Real Estate.
If you try to sell, to rent or to buy a property in Marbella, we are proud, at LuxuryForSale.Properties, to be able to offer you a very personal, non-aggressive, quality and professional service which very few real-estate agents in Marbella or on the coast can supply today.
Sell your Marbella property through Us.
If you have a property in the Marbella area you wish to sell, we are interested in knowing more about it. With an experience in the real estate sector of more than 10 years, Easy Home Luxury guarantees its customers a professional and personalized service. Nobody can offer you so much experience and advice as we do when selling your property in Spain.
With more than 10 years experience in the Real Estate sector, LuxuryForSale.Properties guarantees their clients a professional and personal service.
We are a young, dynamic & available team who listen to our clients, and ensure the solvency of future tenants and buyers. We keep a close contact with owners regarding information and requests.
We speak Spanish, French, English and German.
Experts in expatriation, we are at your disposal to guide and help you through all administrative and installations procedures, as resident or non-resident. All our staff members speak Spanish fluently. This is a critical point to understand, to succeed during an eventual negotiation but specially to limit the intermediaries!
We propose an available and extensive selection of owners of properties for sale, for short and long term rental, on Marbella and Costa del Sol areas.