“Buyers decide in the first eight seconds of seeing a home if they’re interested in buying it. Get out of your car, walk in their shoes and see what they see within the first eight seconds.” -Barbara Corcoran
If you wish to sell your home, read the following advice that will help you find a buyer and sell at a good price.
Create a First-Rate Listing #
Several online sites offer great helpful hints, photo support and premium listings that will help make your property more visible. Take the extra time to look at these helpful guides then think realistically about your property.
Do a search on multiple sites for properties like yours, see pricing factors for amenities and location then price accordingly. Look for a site that has incentives for buyers - perhaps tied to special ‘give-a-ways’ or ease with currency exchange and legal support.
If you hire an agent, make the listing an exclusive so that agent has added trust that she will make her commission. Then, she’ll be more likely to create a first-rate listing with professional photography, clear your title from any problems and help you accelerate the sales process. If someone is interested, you don’t want the person to to sort through buyer’s remorse until after the sale.
Be Willing to Settle In An Alternative Currency #
If you are selling in Spain, traditionally, the transaction is in Euros. If a UK buyer wants to use pounds and not lose funds in the currency conversion, accept pounds and have the lawyer work out the conversion for the 3% withholding tax at the time of transfer. You may consider taking a digital or “crypto” currency.
These funds can be locked for up to 60 days at the time of contract signing or the day of transfer of title. This provides equivalent values at time of closing. If you want, you can also have an exchange ready for the crypto back to fiat currency for a nominal fee. This is often a good way to sell a property quickly and transfer is easier. Send us an email at [email protected], if you would like more information.
Give Extra Incentive to Your Estate Agent #
If you use an estate agent to sell your property, remember you are competing for her attention. Whether they can sell a property under 400,000 Euros and make up to 20,000 Euros that they share with multiple agents or they have a property selling for 1.2MM with a commission of 60,000 Euros, they will focus on the one that pays them more. It’s a simple math issue. Deciding to agree to a slightly higher sales commission can be quite an incentive for your agent.
Get Your Listing Seen By As Many People As Possible #
Create a sales flier and distribute it to many agents both in your village, surrounding villages and in Palma plus places you visit off the island. Remember, selling is mostly a numbers game. The more qualified people who see your listing, the more possibilities you have created to sell. Some sellers do get ‘lucky’ being in the right place at the right time with a friend who knows someone who would “love” your place. But most sellers are competing with other good properties.
Keep Your Listing Consistent #
When friends ask your selling price, do not negotiate against yourself. Never lower price on one or change in multiple places. If a buyer sees different prices for the same property, she will be confused and be in doubt about the authentic value of the property you offer.
Think about it: if you are listed for 425,000€ in one place and 395,000€ in another, then the buyer will see this because of the access to internet data and the way that data is populated. What would you do if you saw both prices? Offer less. So will your buyer.
And remember, consistency is also about the details of your property. Do not let an agent market a room with no windows, closet or access only through another room as a bedroom. This is a large closet, not a bedroom. Your potential buyer will see discrepancy from listing to reality and begin to question other aspects of the offering.
With multiple listing services, your listing will be seen by many who have to wade through thousands of others’ listings competing for attention. Invest some extra care and time in creating yours and make your property stand out.
#Mallorca #Majorca #SellProperty #PromotePropertySale
By Memphis Holland
13 May, 2020