How to sell property in Tenerife
Decided to sell your property in Tenerife? Turn to the professionals!
Having decided to sell their apartment or house in Tenerife, many are beginning to wonder how to do it: to sell it on their own or through an agency, an agent. I want to say at once that if you did not start selling your house on your own, but decided to go to an agency, then this is half the success, at least.
- Firstly, it immediately characterizes you as a business person and understands that everyone in our life does their work, then you are absolutely right to expect that the work will be done qualitatively and on time.
- Secondly, it is logical to contact the agency, because when we have a toothache, we go to the dentist, if the car breaks down, we go to the car-care center.
Now that you have made the right decision, turned to the agency, we will coordinate with you the day and time of the inspection of your house and, if necessary, take pictures. Read more about how to prepare your house for viewing and photo shoots in our article How to sell an apartment quickly and profitably.
Today, many agencies use advanced and high-tech real estate sales systems, participate in professional affiliate programs not only in Spain, but also in all countries where they are interested in Tenerife real estate, and come here to buy it. A real estate agency in Tenerife, which sells your home under an exclusive contract, conducts a segmented analysis of the real estate market in Tenerife and Spain, conducts a set of marketing activities, works with professional realtors in Tenerife and uses affiliate programs and websites, that is, it does everything that forms the highest possible demand for your property, which in turn attracts buyers from almost all over the world, shows the advantages of the object and helps to choose the most interesting a suggestion for you: the price – payment terms – the correct registration of the transaction.
Why do you need to contact a Real Estate Agency?
Real estate should be sold by a realtor, and not the landlord or his friends, relatives — this is how a dentist treats teeth, and not an ear or throat, a car mechanic will not climb into an electrician of a car — it’s hard not to agree, right ?!
Property, whether it is an apartment, townhouse, house or villa, is a product from the point of view of the market, which is not easy to sell at the market price, especially in a highly competitive market, so the real estate agency creates and implements a range of measures to form a sales strategy your home and pricing policy.
A realtor who sells your home should not compete with other realtors who sell your property! This is not the same as regular competition, for example, between firms, between goods, which stimulates the development of the market and sales, where everyone wants not only to be better, but also cheaper.
In the real estate market, competition between agents or agencies that sell the same object comes down to what everyone is trying to attract attention to, and what ?, of course, by lowering the price of the object being sold, he has no other leverage. It turns out that there is no goal to sell as profitably as possible for you, there is only one option left – to sell faster than others, it’s better to earn at least something that the object will be sold by someone else. In other words, you yourself reduce the cost of selling your home!
If you work with several agencies, then you drastically reduce the advertising budget that the agency is ready to invest in order to sell your house at the best price for you and within a reasonable time, and reduce it to its complete lack
The image of the object, its attractiveness for a potential buyer is also important, imagine that you see the same object on different resources, from different people with different quality photos, description, price. What does this mean for a potential buyer? That something is wrong with the object, since it is sold to everyone to whom it was caught, the pricing policy is not defined, that the owners of this object do not want to sell it, do not pass it on as they say to new caring hands, and simply cannot get rid of it; your house in order and quality. Such objects either drastically and lose a lot in price or are not considered at all by potential buyers, especially for expensive apartments, houses, villas, in a word, objects with a price of 350,000 and more.
Therefore, the exclusive right to sell your home guarantees you the highest possible cost of sale, the timing of sales and the allocation by the agency of the maximum possible advertising budget for the sale of your home, the most responsible attitude to the fulfillment of your wishes and instructions. The agency, in turn, is the maximum possible remuneration and the ability to use all possible resources. The agency works solely in your interests.
What percentage does the agency charge for selling real estate?
The amount of the realtor’s fee is determined as a percentage of the value of your property, in rare cases – a fixed amount. The percentage of the cost of the agency – directly related to your interests – to get the maximum possible market value for your property. This encourages the realtor not to act along the path of least resistance (just working on lowering the price), but working to increase the price, that is, looking for solutions and reaching an agreement, keeping the middle ground between the highest market price and the terms of sale that are fixed in the contract.
The sale fee must be reasonable and sufficient so that we can attract our partners to the promotion of the object – professionals, employees of our own and other real estate agencies in Tenerife, Spain and other countries where there are potential buyers of your real estate.
Typically, Tenerife applies agency fee of 5% of the sale price. But by agreement of the parties and the advertising budget, the agency’s commission may amount to 7%, for example.
Not rarely, the agent shares his commission with a partner who helped him in the sale, led the buyer for example. It is very important for the seller that when selling his house there is no conflict of interests of the parties.
Frequently asked Questions FAQ:
How can a real estate agency create demand for my object in an environment where supply exceeds demand?
Property is a product, a product that is always in demand and in any conditions. Of course, this is not a commodity. You can always postpone the purchase of real estate, rent it, save money, wait for the best conditions and prices, etc.
Now on the property market in Tenerife, buyers are active, for whom the need to purchase is quite relevant, there is a clear request for the type of property, its characteristics and value. And what would not be a “bold request” for value (cost below the market), there is always a suggestion.
On the other hand, we have a lot of potential buyers, a client base for which to buy property in Tenerife is not an urgent need, but an investment: buy an apartment for rent, buy a house and move to Tenerife to meet old age, you can buy some kind of building , to make repairs in it and after some time to sell at a profit, etc.
That is, among our potential buyers there is a sufficiently large number of wealthy people who, in principle, are ready to buy property in Tenerife, but if the purchase seems profitable to them, but they themselves, of course, do not actively search, but receive an offer from our company and recommendations for consideration or other offer.
We also use affiliate programs and resources, attract professional participants of the real estate market in Tenerife, Spain and of course in other countries, for example in Russia, Germany, England, Italy and in many other countries. 15 minutes is enough for us, so that the whole of Tenerife knows about selling your home and a few hours for sending it to the customer base and advertising in other countries. I hope that now you understand that even in the second agency you do not need to sell your house or apartment.
If the agency attracts other realtors to the sale of my property, why would I not directly contact several agencies, even if they lead buyers to me, like two agencies, and therefore twice as many clients?
Relationships in the Tenerife real estate market, as in other regions of Spain and other countries, require constant professional analysis, coordination of actions and correction of the advertising company. It’s not for nothing that the manufacturer has a system of distributors, dealers, which is aimed at sustaining the price of a product, quality of service and maintaining the image of a product, which ensures professional sales of goods, lack of dumping and the earnings of all members of the structure. which, in turn, will take on all the troubles of doing business with “retail”, using its own system of control and motivation of all participants. Agree to manage or control the process of one person or one company is much easier than two, three or more. We work only with trusted agencies and partners that do not harm the image of your property, do not violate the plan of sale, do not allow the conflicting interests of the parties.
How can I understand that with this agency or with this agent I can conclude an agreement, entrust the keys and access to my home?
Tenerife is a small island, but of course we do not know each other personally. In this matter, it is enough to have minimal skills in Internet access.
- Specify the company name and agency website. Look at the site, look through it, because this is a business card of the company, where you will see how real estate is represented, how old the company is, information about the company, and so on.
- In a reputable company there is a photo and a list of agents, your potential agent should be on the site
- Look at the agent’s profile on facebook, the professional will almost always have the place of work or activity and the corresponding content in the profile feed.
- Type in google “reviews and the name of the company,” it is important that there are no positive reviews, but no bad ones, because the companies themselves do not write a bad review, they will not buy it, and most often they are on business.
- But in general, 15 minutes of time spent and most likely you will not be mistaken with the choice
Contact us in any convenient way, we have many potential customers!
Tel +34 658377591
