Rebecca Serwotka – Your favourite local property expert, of Inmobiliaria Real Estate Agents in Ciudad Quesada & published author of “Moving Forward – 25 Essential Rules For Buying & Selling Real Estate Without Going Crazy.” Request your FREE copy today! Featured on Best Buy Spain – Property TV
Are you selling your property?
What type of vendor are you?
During my many years of experience speaking with thousands of local property owners, I’ve come to notice there are different types of home sellers amongst us. Each vendor can be identified into 4 types of categories.
Beware! Falling into the wrong category could jeopardize your chances of selling your home. Discover quickly which type of vendor you are and double your chances of achieving a sale.
Here are the 4 categories:
1. The emotional seller – “I must like my buyer, as I only want to sell to someone that will appreciate the blood, sweat and tears I’ve put into this home.”
2. The price setter – “I don’t care who buys, as long as they pay my price!”
3. The waiter – “I’m not in any hurry to sell, and if no one wants to meet my price, then I’m quite happy to wait!”
4. The realist – “I want my property sold for the best price, but also understand I have to be sensible when it comes time to negotiate.”
Here’s why categories 1, 2 and 3 will decrease your chances of a sale in the current market:
Emotional sellers are unable to negotiate a deal based on whether the price of the sale would work for them. They’re more of a heart ruling their head type of decision maker. They feel uncomfortable with the thought that if someone buys their home, they’ll start throwing things out and changing everything. They believe the buyer won’t appreciate the blood, sweat and tears gone into making the house a home. The problem with the emotional seller is when it comes down to negotiating a deal, if they don’t like the buyer personally, they won’t tend to agree on a price. Their feelings will make them think it’s better to wait for a buyer they like before agreeing on a selling price.
The price setter can become too focused on a number instead of looking at the bigger picture. They say things like, “if I sell at a certain price, I won’t be able to buy my next home.” Ultimately it’s the market that will determine the homes value. A property is only worth what someone is willing to pay. No buyer will pay more because they feel sorry for the seller. If you were the buyer would you pay more for a home, if you thought the seller needed more to be able to buy their next property?
The waiter is a type of seller that has convinced themselves, if no buyer will pay their “above market value” asking price, they will wait for someone that will. They think for sure there’s someone out there that’ll love their home and pay their price. They’ve told themselves if it doesn’t sell, then they’ll stay put! The fact is, if the price is too high no buyer will view and no buyer will make an offer.
Bad news if you recognize yourself as being in categories 1, 2 or 3. These types of vendors are ruining their chances of selling. The market isn’t strong enough to be an emotional seller, a price setter or even a waiter.
Selling a home as a “realist” means they appreciate the current market conditions. They understand that attaining the best price will happen as long as they are sensible when it comes to their asking price and negotiating an offer. Holding out for a buyer they like, a price that’s too high or someone that doesn’t even exist will decrease their chances of a sale dramatically.
The good news is, if you see yourself within categories 1, 2 or 3 there’s only one thing to change to easily double your chances of selling! That’s your mindset! Move yourself into the “realist” category. You can start by looking at your asking price.
If your property is sitting on the market with no offers, there is a quick solution! Remember this… Price fixes everything!
I understand the frustrations that come with selling a property in Spain. Especially during the pandemic. If you’re wanting to start the process of selling your property but unsure where to start, head to www.homes4u.es/HowToSellaPropertyInSpain to discover everything you need to know.