Private Property Sales
Private Property Sales in Spain
If you are planning to sell your property in Spain it is not difficult to find a real estate agency who will charge you two to seven percent of the sales price for their services. Nowadays, an increasing number of residential sellers choose to sell their property using the internet. This saves them thousands of euros in agency fees. Whilst the most expensive real estate agencies charge you up to seven percent (or more!) of the sale price, there are options on the internet with fixed prices from as little as 50 € up to 600 €. These internet options now account for five percent of all completed sales in Spain (2014).
The largest sites are all reporting a growing number of properties for sale. They have the ability to save sellers of property in Spain substantial amounts, since they do not need to finance a chain of offices or the agents’ salaries, commissions, expenses and company cars. For example, one of the largest players in this fast-growing digital marketplace is AllPropertiesSpain.com They currently list over 40,000 properties for sale and rent throughout Spain. They have more properties being added on a daily basis.
When you sell your home privately, it is your responsibility to show potential buyers around your property yourself, but this is an advantage. Nobody knows more about your house than you do. You are therefore best suited to sell it. Anyway, in many cases, owners who hire a estate agency end up doing most of the viewings themselves. In addition, there are many who feel that estate agents do not prioritise their property as it often only becomes one of many on the agent’s books. Many feel that the agents will push the properties with the best commissions, easiest chains etc. In Spain it is normal for several separate agencies to sell the same property. It is not unusual that a agency has over 1,000 homes for sale at any one moment. Estate agents also claims to have lists of willing buyers, but nowadays the overwhelming majority of most real estate searches in Spain begins today online. (That figure reached 72% in 2014)
Of course, a good real estate agency can also have its advantages. It can become a useful resource for the sale of a home in Spain. A good real estate agent can use his skills and experience to value your property accurately, deal with potential buyers, arrange views, and coordinate the details of completion. They may also have valuable and professional negotiation skills. But is it worth their costs?
Advertising of property in Spain
Even if you use a real estate agent or sell your property privately, it is crucial that your home is visible on the major property portals for Spanish homes. If not, you will miss many potential buyers. It is important that your home is listed on AllPropertiesspain.com/en, Rightmove.co.uk, and so on. In reality, seven out of ten buyers start their property search in Spain on such sites.
AllPropertiesSpain.com is a major real estate portal for homes throughout Spain. For just 49 euros you can sell or rent out your property on Allpropertiesspain.com. You create a private account, then you can enter up to three homes at no extra cost. Your property will be advertised globally but the focus is Norwegian, English, Spanish and Russian buyers. These constitute the largest group buyers in Spain. Obviously, they reach the important Dutch and German markets and have a global presence. They concentrate on the Scandinavians, British/Irish and Russian markets because, that is where the majority of potential markets are. Read more about private property sales on Allpropertiesspain.com
My best investment
A seller who saved a lot of money selling his home privately in Spain was Erik from Bergen in Norway. He sold his home in Torrevieja, on the Costa Blanca in the Autumn of 2014.
He attracted a great deal of interest when he promoted his villa on AllPropertiesSpain.com/en, with an asking price of 353,000 euros He completed a dozen viewings in three weeks and he got three offers. A lawyer took care of all the paperwork and ensured that the sale was conducted under the current Spanish rules.
“What I like with AllPropertiesSpain.com is that is a international site that attracts buyers from all over the world, not only English people. They appeal to the largest group of buyers of Spanish homes and is an important advertising. I was pleased to sell at a higher price than we had decided to accept.”