1. Start with the correct asking price
Having the correct price for your home is incredibly important as it can filter out many potential buyers. It is thought that around 50% of vendors introduce their property in Spain to the market with the wrong price, up to 20% too high, which correlates with the seven month average time taken to sell in Spain. In the UK a property is on sale for one month on average. An overpriced home could also be used as a comparison to make other homes seem good value, therefore it is important that an accurate price is agreed.
2. Employ a professional agent
Houses in Spain often do not sell as quickly as in other markets due to the lack of professionalism. In Spain there are a multitude of agents and many of them lack the experience or relevant skills needed to sell a property. Furthermore, this lack of professionalism will not sell your house soon, or before the festive period. This is why it is essential to choose a reputable agency such as Lucas Fox, who are specialised in selling bespoke property and can offer effective exposure. A specialised agency such as Lucas Fox will help advise on the correct price and provide the best service.
3. Know your property
It is vitally important for vendors to know the various ins and outs of their property. This means knowing exactly what condition the property is in, whether it needs any electrical or plumbing maintenance and if there is the risk of structural damage. Being aware of this information makes the vendor better prepared for questions from any potential buyers so they can feel more at ease about buying. A vendor who is unprepared and seems disinterested in their property creates a negative image for the potential buyer.
4. Clean and de-clutter your property
Here at Lucas Fox we cannot place enough emphasis on how important a well-presented house is. This means deep cleaning your property and making sure it is spotless, which will make the property appear more inviting. The removal of certain items of furniture and personal items may also be necessary as this will create the feeling of more light and space. Furthermore, if there are less personal items it will be easier for potential buyers to envisage their own items in the property, which is always a positive effect.
5. Give the property a new lease of life
Preparing your home should not stop at cleaning and de-cluttering. Often a slight update of a house is needed just to enable buyers to see the potential of a house. Sometimes, it isn’t always necessary to carry out major conversations and renovations, but a new lick of paint plus new kitchen cupboards and worktops could be all that is needed. It is also important to maintain this good condition, such as mowing the lawn, cleaning a swimming pool, pruning trees, as all of this creates a lasting impression on a buyer.
6. Explore potential conversions
Before selling your property it is important to explore the possibility of any conversions of your property. For example, if it is a spacious apartment in a classic building, is there the possibility of splitting it into two units? Or is there the possibility of building a self-contained annex on a large plot of land? If you are looking to sell before Christmas, of course it is unrealistic to expect to achieve this before, however you could always look at applying for permission to build which may be a good selling point for buyers.
7. Prepare all the paperwork
Another key element for those looking to sell before Christmas is to have all the required paperwork ready. This includes the Energy Performance certificate, the Cédula de habitabilidad and the Nota Simple, as well as legal contacts in the case of a sale. By doing this you appear more serious about selling to the potential buyer, and less time is wasted in finding paperwork further down the line when a party is interested.
8. Consider your target market
When embarking on selling your property, it is important to clearly identify the type of buyer profile you wish to attract. Large villas, for example, should perhaps be focusing on the family market, and really add emphasis to the multi-purpose rooms and close proximity to good schools. Apartments in the centre of Madrid or Barcelona could focus on how their property is an excellent investment opportunity. By doing this, you refine the potential buyers down to those who are more serious about purchasing your property.
9. Be ready at any moment
Many potential buyers see a property and then hope to do a viewing quite soon after. This is a key time for those looking to sell their property as time is of the essence. Potential buyers may require a viewing at a moment’s notice and therefore it is important that your property is prepared in this scenario. You can ensure this by vacuuming every day, maintaining plants and not allowing dust to gather. Also cooperating when an agent needs to do a viewing could help speed up the process.
10. Listen to your real estate advisor
Here at Lucas Fox we use a range of marketing tools to ensure that your property is targeted correctly. We use various techniques including videos, floor plans, PR and advertising. Obviously the more marketing actions you decide to use, the quicker your property will be sold. Here at Lucas Fox we have a team of experienced professionals and any suggestions about price adjustments or cosmetic changes to your property are with good reason.