5 Things You Should Never Say If You Want To Sell Your Property in Marbella.
Selling a property in Marbella today is not an easy task, so it is vital your real estate agent has a clear sales strategy.
However, you, too, should do your best to support the sales process. Have trust in your agent’s knowledge and follow their advice. Most importantly, absolutely never say any of the following things…
1) “Put my property on the market at a higher price so we have a margin to go down later”
This is a dangerous tactic in the current market, with so much property for sale in Marbella and prices at rock bottom. When setting the asking price for your property, it has to be adjusted to the market value and your agent should be able to provide you with a market comparison as to what has sold in your complex or similar property. Pricing the property correctly to the market is a skill – too low and the estate agent does not do justice to the vendor, too high and it will not attract any viewings.
2) “My property cost me €xxx, so it must be worth €xxx”
You should not use the price you paid for your property as a reference. The valuation must be based on the recently achieved sales prices of comparative properties, which your agent will be able to advise you of. Neither should you add on all the costs of any cosmetic changes you have made, since they may or may not be to the taste of the future purchaser. For example, just because you spent €10,000 on installing a hot tub on the terrace, does not make the house worth €10,000 more.
3) “There is another party who is interested to make an offer”
The last thing you should say to any prospective buyers is that you have another potential buyer in the wings or making an offer, even if it is true. The result is you put the buyers into a Dutch auction and often end up losing both. My experience is that buyers hate it and will walk away. If someone makes an offer on your property, decide if you are going to accept it and then go with it!
4) “I could let you have it a bit cheaper”
When it comes to the price, you have to understand the difference between negotiation and haggling! Even though the price is an essential part of the process, the price is not always everything; we have to take into account the location, and the renovations that the property might need.
5) “You should describe my house as ‘charming with wonderful style’”
You should leave the marketing of your property to the expert. You might think it sounds great, but agents should avoid using flowery language. Who says the house is charming? Who is deciding if it has style or not? Taste is very individual and it is essential for them to remain impartial and describe the property correctly. If the 4th bedroom is really a junk or laundry room, it is a disappointment to the buyer when they arrive to view. Likewise, it’s a long shot to claim to have sea views if you have to hang over the balcony to see them! And 5k is not a ‘short stroll’ to the beach! You should understand your agent must be honest in their description to avoid wasting everybody’s time with unnecessary viewings.
While it’s your agent’s job to sell your property, you can support them by trusting their judgment when it comes to valuation and marketing. Take their advice over negotiations and work as a team to achieve a successful sale. After all, you’re both working towards the same goal!