First steps for selling your property!
Here we cover initial concerns people have about the process of selling a property in the Alicante region and finding the best agent.
When selling property you're selling one of the most valuable assets you'll ever have, so it's vital you pick the very best agent to work on your behalf.
Only you can make the decision on when it's the right time to sell and we want you to have all the information needed to then choose the right agent for you.
How The Process Works:
STEP 1: Are you really ready to sell your property?
To begin with, you need to make sure that selling your property is the right choice for you.
1) Do you really want to sell your property right now? If you have a solid reason to sell and are committed to the idea of not having the property any longer, you will most likely end up selling.
2) Do you have reasonable expectations about the sale? This is usually in reference to the price you’re wanting to sell for and the time frame this can be achieved in.
If you answer in the affirmative to these two questions, this indicates that you are taking a serious approach to the sale.
STEP 2: Gaining clarity on your priorities for the sale and defining the ideal buyer for your property.
After you have said YES to the two questions above, you are ready to sit down and map out how you can achieve the best outcome possible.
The next step in this process is to get a clear idea of what your needs are for this sale.
This may seem slightly premature given that you may not have decided to sell yet, but this step:
✓ helps you in the decision-making process
✓ helps you clarify your needs
✓ helps you clarify what type of buyer would be ideal for your property
✓ helps you ascertain what your ideal buyer would like to know at the time of purchasing the property
To confirm, you do not need to make a commitment at this stage: you are only gathering information on what is required to sell your property successfully.
In addition to gaining a clear insight into what you want to achieve, you will also get a clear idea of what your property is worth.
This value is based on up-to-date comparisons and current market conditions.
Unfortunately it doesn't matter what we both think, or what your accountant, lawyer, or best friend have to say about the value of your property, only data and the market can fix the value of any property.
With a figure based on market data and up-to-date comparisons, you will then be in a position to make a decision: either continue owning the property until you're ready to sell or sign a listing agreement and start the sale process.
STEP 3: Choosing who to list your property for sale with
Once you have decided that the time is definitely right to put your property on the market, it's time to choose an agent.
To achieve the best outcome, it's vital you pick the very best agent to work on your behalf.
Here are a some points to take into consideration when choosing the agent to list your property with:
? Have they been fully transparent on how they will sell your property?
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Have they backed up their claims with facts?
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Have they provided you with information on what price similar properties are on the market for in your area or what they have sold for?
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Are you confident they will maintain good communication with you throughout the process of selling your property?
? Are you confident they have the ability to respond to buyer enquiries and then follow these enquiries up multiple times?
? What is their fee structure and listing duration?
? Have you been given details of exactly what's included for their percentage commission (cheapest isn't always the best price!)
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Do they have access to all property portals, or just a few? (Make sure to get an exact list of the portals they will be using).
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Do they offer video as part of the package and have they shown you an example?
? Have they told you exactly what else they do, to make your property stand out over the other properties that are on the market in your area?
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What services do they undertake to actively find you a buyer, instead of just relying on people searching property portals?
It's worth texting or emailing the agents you have shortlisted and see the amount of time it takes to respond. This is because if they don't get back to you swiftly now, it won't get any better upon you signing with them!
STEP 4: Listing your property for sale
Now that you've decided on who you're going to work with, you need to get the documents together in order to market your property and the agent will take care of everything else for you.
We will list the documents below for your information, however, upon instructing us, we will help you with this.
⭐ Escritura: A copy of the title deeds.
⭐ Escritura De Hipoteca:
A copy of the mortgage deed.
⭐
Cédula de Habilidad:
A copy of the first habitation certificate.
⭐ Recibo de la Comunidad: Copy of the receipt for the latest community fees.
⭐
EPC: The Energy Performance Certificate
⭐ SUMA:
A copy of the latest council tax bill.
⭐
Utility Bills: Water and Electric bills.
⭐ Identification Documents:
A copy of your passport and NIE.
YOUR QUESTIONS ANSWERED
What can I do to help sell the property?
The best way to ensure a smooth sale is to prepare your property properly when putting it on the market.
If you have everything prepared then you will save yourself time and stress down the line.
We can do this for you. By being organised in putting your property on the market, this means that once you have a seller, there's no need to wait: the deal can be closed swiftly.
We specialise in helping sellers increase the perceived value of their property before putting it on the market.
Should I hire multiple agents to sell my property?
Multiple listing agreements are where you can have a number of different agents selling your property.
Sellers sometimes believe that having multiple agencies will increase the likelihood in selling their property, so they find ones who will do this.
In reality, this method decreases the perceived value of your property.
This is because when potential buyers see the same property listed with multiple agencies, they often sense weakness in the approach and it can be considered as a desperation tactic.
This leads to people putting in lower offers.
If you work with an experienced agent, they will have all bases covered, so that your property is advertised everywhere it should be. So there's no need for multiple agents.
In addition, agents who take on multi-agent agreements tend to allocate less resources and time to those properties, when compared with a property that the client has specifically chosen them for.
Any effective agent will be hesitant to sign a multi-agent agreement. Keep in mind, too, that real estate is unregulated in Spain, and any professional broker must be careful who they attach themselves to in a deal. If the other agent does anything untoward, their reputation can be dragged through the mud.
Doesn't it make more sense to take the time to find an agent you are happy with? An agent you have confidence in to get you the best deal, and who will work tirelessly for you, rather than 2 or 3 half-hearted agents!?
If you still think it's of benefit to you, ask your agent about dual agreements, where just two brokers who already know each other work on the deal.
How long does it take to sell a property in Alicante?
Statistically, it takes on average 6.4 months to sell a property in Alicante.
Remember, this is just an average: some properties take longer to sell, whilst others are sold in a much shorter time frame.
The agent you choose to sell your property will affect the speed of the sale.
Having all the right information needed to make a sale gathered in a single place, and creating a professional marketing package will reduce the selling time considerably.
It's also important that the valuation of the property is correct from the beginning.
Some sellers overvalue the property to begin with, thinking that they can reduce the price down the line. This approach often fails to bring in a high offer, and wastes a lot of time, as serious buyers with capital rarely spend time looking at poorly valued property.
Source: Idealista: Alicante - 6.4 Months (View Article)
How much does it cost to hire a real estate agent?
In Spain it's between 3-8% and in Alicante you can find agents that have packages for 3%, and other brokers that have packages for 7%.
The most common is 4% when you instruct one agent to sell your property. With 3% packages, they simply don't cover everything needed to get the most exposure possible.
Source: "Googled" - average commission to sell property in Spain = between 3 and 8%
To command the best price, your property sales package needs to include video marketing, paid target marketing and international portals, such as A Place in the Sun (as well as the likes of Idealista).
When agents charge less than the average, it's most likely a below average service, not using a full scope of methods to find the best buyers.
The cheapest package is not always the best and when it comes to selling your property it will lose you a lot of money!
It’s our belief that the goal of a great agent is to add far more value than it collects in commission.
From preparing your property for sale, to marketing, negotiation, and financial strategies, the difference a good broker makes can be dramatic.
It's all about creating competition for your property and this can only be done by putting it in front of the right people. This costs a lot of money and time, both are required upfront.
Based on a €200,000 sales price, you will save €2,000 by listing with an agent that has a package for 1% less. The question is, what's missing from this package and how much is that going to cost you!?
It's most likely going to reduce the final sales price by far more than €2,000, as your property will only be put in front of a reduced amount of people.
For example, even before we put your property on the market, our services increase the perceived value of your property by often 5x this amount, so it often ends up costing you money in more ways than one by choosing a cheaper package.
How long is a listing agreement?
Listing agreements typically cover a twelve-month term.
Remember, on average a property is on the market for 6.4 months in the Alicante region, so be wary of anyone offering listings for less amount of time.