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Selling a property on Ibiza

Set a starting price

You have to develop a "sales strategy" and the most important point is the starting price. In other words, if you expect too high a price for your property, luxury villa or apartment, many customers will not bother to contact you. If you ask too little, you give away money. The fair sale price is the most important thing in the art of selling real estate. The result and consequence of a thorough market research. Do not settle for a wish sum, but find out the market value the market gives. What do similar properties in Ibiza cost, which luxury villas have been sold and at what price? What other owners are asking for similar villas in Ibiza?

The more unique, the more luxurious and the more exclusive a villa, the higher the starting price may be, and the more firm you can be in the negotiations, the less the house, the villa in Ibiza, the more likely it is that there will be a great deal of similar properties can be found on the market so that the price must be competitive.

Avoid offering a "net price"

What you should avoid when using brokers to market your property on a net basis, that is, you will receive a pre-determined amount and the broker will beat your commission on top of it. This can lead to your property being offered at different prices, creating confusion among potential buyers.

Smart salespeople work with their brokers on the team and make sure that the brokerage agency gets their commission, just as they expect in return to be properly advised and treated by the agency. You will set a single starting price including commission.

Exclusive or not?

Should you conclude an exclusive contract with a broker ? If you are not on-site as an owner, or if you do not feel like coordinating different brokers with different skills, then having such a sole agency with a single broker can make life much easier for you.

The agency in question is also motivated by the exclusive right to sell and advertise your property. A professional agency will provide you with a sensible strategy based on the experience gained and the special features of your property. This includes good marketing material and targeted advertising campaigns.

A responsible broker avoids acquiring the exclusive rights of an asset unless he is satisfied that the starting price is correct and provided he feels able to sell your property within the set timeframe.

Providing easy access to the house for a broker of your own is important so that potential buyers are not lost. A good broker will check prospective buyers in advance. And he will advise you on how to put your property in the best light for sightseeing and also how you should behave during the negotiations.

Commission rates

By default, the brokerage commission in holiday destinations we Ibiza amounts to 5% plus sales tax. This covers marketing, advertising, real estate placement and sightseeing, follow-up interviews with potential prospects, property search, background information and advice throughout the sales process, and often beyond. Brokers do not just give the keys to the customers, they will always show the objects in person. Most of the time, they invest in finding the right buyer.


Frequent comments from sellers:

My property has been on the market for months and hardly anyone has visited it. "

This can only be considered normal if your property is only interesting for a very small number of customers - or if it is too expensive.

If neither is true, then your property is not sufficiently "visible" in the market. Our advice in this case is: Talk to your broker or seek advice from another well-established brokerage firm with a good reputation. An object in which the price is right and which is sufficiently advertised, should be visited regularly by prospective buyers.

"All the customers who come through the broker are a waste of time."

Are they really? If you often go sightseeing, but none of the prospects make an offer, then it is likely that your property is not as unique as you may think. You may need to reduce the price, or maybe some repairs will be needed to make your home more attractive. And always remember that selling a property is a bit like playing the lottery: the more people visit your house, the more chance there is of someone falling in love with your house and buying it.

"I have to sell urgently - immediately."

If you're in a hurry to sell - let's say you want to sell it within 2 to 3 months - you need to be prepared to cut the price considerably. At this point, in fact, a capable broker should be called in who can propose a price that will enable or make the sale likely.

"What room for negotiation do I have to take into account with regard to the price?"

We advise you to set a price with the help of your broker, not only considering similar starting prices, but also prices at which similar properties are sold. Many buyers are well informed and recognize a realistic purchase price. Bear in mind, but also that few of you will be willing to pay the full price you set, so you'll have room for negotiation.


MORE IMPORTANT TIPS FOR REAL ESTATE SALE:

Put your property in the best light.

The first impression counts. If a broker comes with prospective buyers to show your house, open blinds and curtains to allow as much natural light as possible.

Look at your broker's home page for how your house is described there and what photos it presents. Even the basic information must be correct.

The photos should not only show your house, but be as advantageous as possible to animate prospective buyers. To stand out from the competition, you may need professional pictures, especially from inside the house.

If you need a little repair or painting to increase the overall attractiveness of your home, you should do it as quickly as possible, so that any objections do not come up. It goes without saying that a well-kept and clean house makes a better impression. Many buyers lose interest when an object is dirty or messy, or use it as an excuse to offer less. If your house is in perfect condition, it immediately creates a positive impression.

Make sure your main broker affixes a sales sign.

Sales signs always bring prospective customers. Very often, potential customers stroll around to get an overview before going to a broker. Of course, if you do not have a sales sign, such potential customers do not even know that your home is for sale. Blocking a sign will block one of the safest ways to market your property. Our experience proves that signs are an essential part of home sales.

The visit of your house should always be possible at short notice.

If you deposit the keys with a neighbour who goes golfing three times a week, give away the opportunity to show your house to a prospective buyer at a time that suits them. Keep in mind that the brokers usually show the objects for which they have a key first, before they visit with the customer objects, for which an appointment must be made.


Control

All taxes and other expenses should be paid when the house is offered for sale. Ask your lawyer and accountant what options you have for avoiding unpleasant surprises when it comes to sales negotiations.


Sales negotiations

Give your broker the chance to work in the sales negotiations with you as a team. Special points can be clarified with a lawyer or accountant if necessary. This part is the job of the broker, and you pay him for it. In addition, a broker is usually more experienced than a lawyer when it comes to price negotiation. Your lawyer will come on board as soon as the preliminary work has been completed and will (in cooperation with the broker, if necessary) set up the contract and monitor the correct course of action.

If you travel a lot, it is advisable to issue a power of attorney to your attorney so that he can sign a preliminary contract on your behalf in accordance with your instructions. You can discus...