Learn how to get the most from your home in Spain, and save money with cost-effective solutions from the best providers.
If you are selling a property in Spain you need to be aware that the procedure is very similar as for buying a home.
Once you have made the decision you have two options:
- to announce and show it by yourself or,
- choose a real estate agency for them to list your property and to do the hard work. They protect your interests.
It is important to talk to several estate agents in order to find one that you feel comfortable with, trust and they have clients interested in a property like yours. Charges will vary with different estate agents depending on the services they offer, so it is important to be clear on what you will be expected to pay when the house sells. It is recommended that the small print of any agreement with an estate agent is checked as there could be hidden charges that they have not made clear. The successful selling of a property depends on the course of actions followed by the real estate Agent.
Once you have chosen the real estate of your wish you have to decide between:
- Exclusivity assignment, or
- Listing your property with different real estates.
I recommend you the exclusivity assignment but they have to:
- To upload your property on a large database where most of the real estates have access so all the real estates will know automatically about your property.
- To upload your property on their website and any other real estate's website where visitors could be looking for a property like yours.
- They have to collect all the documentation related to the property, create video, photos and a good description of the property.
- To inform their clientele portfolio by sending mailings about your property.
- To post a FOR SALE sign of the property on the announcement board of their office, in your property itself, if it is possible and in the area around it.
- To promote the property in printed marketing pieces (newspaper, newsletter, etc).
- To help you out with the home staging of your home.
- To organize an Open House.
- To promote the property by a newspaper ad.
- To inform you, on a weekly basis over the email or phone about the progress and results of their actions.
A house does not have to be sold through an estate agent, a seller can choose to sell the house themselves. Commission rates can be fairly high with some estate agents so more and more sellers are opting to try to sell the house without an agent. In resort areas the cost of selling through an agent can be up to 10% of the sale price, but in other areas the rate can be much lower.
It is common for properties in resort areas to stay on the market for several months, even if the property market is considered to be good. Both parties need to have legal representation and once the sale is agreed a lawyer should take over and deal with the rest of the sale. In recent years the property market in Spain has struggled a little and is expected to do so for a little while longer, although there are hopes for recovery towards the end of 2011 onwards.
Property exchange is not an option and is only used in Spain for those who wish to exchange homes for a short period of time for a holiday.