Selling a property in Palma de Mallorca

Decisions as important as those relating to the valuation or the sale of a property are not something you should leave to chance. Would you risk a court appearance without a lawyer, or fill in your tax return yourself? Use the market and service expertise of a professional estate agent.

We earn our money if the customer is satisfied with the service we provide! For this reason, we are also very proud of the many properties which we could successfully place on the market. We want to be better than you expect, and look forward to working with you!

Why use a real estate agent?

This is a question which probably arises in the minds of market participant, buyers, sellers and landlords alike.

How do I get the best result?

Buying or selling a property is usually only a once-in-a-lifetime decision. Some people, for example, are looking for the most attractive offer quickly and without complications, while other people want, among other things, to find a sound customer and to get the best possible price. But they are all looking for the service provider who will accompany them in the most effective possible way in buying or selling a property. Below, we outline for you some criteria which will certainly help you to get closer to that target of getting the best results!

Speak to people who have already had good experiences with estate agents. Which company is the most proactive, which one is recommended again and again, which one is the market leader?

Don’t just rely on the tips given by other people, convince yourself.

Study press reports in the regional section of your newspaper about how prices are doing on the local property market. Which estate agents are providing the research?

Developments on the local property market. Which estate agents are providing the research?

Buy the local newspapers and have a good look at the property pages. Who is always advertising new properties? Which advertisements catch your attention?

Have a good look at the range of properties offered by estate agents who have specialised in properties in your district. Which agent is particularly successful in your section of the market?

Compare the internet presence of different estate agents and the properties advertised on their websites. Do the positions and sale prices match your property and/or what you were looking for?

Consider the impression which you get in the office itself. Did you like the atmosphere, were you welcomed in a friendly way, did you like the team of property consultants and the style of presentation?

Ask the person you are talking to why he or she believes that he or she is the right person for you and your property and/or your search for a property.

Check the qualifications of the person you are talking to: Are promises kept, do they have first-class know-how, do they inspire confidence and do they have a high level of people skills? Are they service providers to the core?

Take an all overall look at the range of services on offer, from the issue of advertisements through the arrangement of appointments to view to the handling of the contract and transfer of the property.

Ask them to explain their advertising approach. How will the property be presented in the region and outside the region? Is the advertising random, or is there a strategy which has been agreed in accordance with the wishes of the vendor, to place the property on the market in the most effective way?

Ask them to give you a selection of sales brochures, and check to what extent they include properties which compare with yours or match what you want.

The owners of properties should now invite the selected estate agent(s) to a further discussion, ideally in or at the property.

Inform the estate agent whether you only want a consultation or whether you wish to commission them to buy or sell a property. This is the only way to prepare effectively for the appointment.

Clarify beforehand whether there will be any charge for the consultation.

Let the estate agent have copies of all the required documents relating to the property, so that it is possible to give a professional opinion which fully takes into account the property potential. Allow yourself time for the appointment.

Don’t start off by specifying what you think the purchase price should be, but ask the estate agent for a valuation based on the realities of the market. Give the team of estate agents sufficient time to consult among themselves. Under-valuation can cost you money just as much as over-valuation can!

Have the estate agent explain the reasons for their valuation in writing or verbally. Your choice of the right estate agent should be influenced not by promises of getting the highest price, but by a reasoned explanation of the likely price which the market will bear, the relevant target groups and the period of capitalisation.

Make sure that the flow of information is guaranteed throughout all the process of selling the property. What is the current situation, how will the estate agent deal with interested parties and how will sales negotiations be carried out, what activities are planned? Ask the estate agent to explain to you all the outstanding questions in detail! Make sure that, in addition to the classical sales strategies (For-Sale signs, internet, advertising in the press), the agent will also be using systems of co-operation and synergies which extend nationally and/or internationally. How big is the network which your agent uses to carry out marketing activities?

Make your decision to commission just one single company for a specified period.
Only an agent who is the sole representative will invest the optimum amount of time and money to market your property.

Keep in mind that by commissioning more than one company, the property could lose its uniqueness and thus the possibility of recovering the best possible price. Multiple advertising, multiple approaches to customers cause confusion and annoyance for anyone interested in the property and in the market itself.

There are countless estate agents in almost every town or city, and not all of them have the necessary qualifications. In order to avoid getting any nasty surprises, you should at the outset invest sufficient time to select the right agent for you, in order to achieve the best result for you.

Just think – the way in which the estate agents present themselves to you gives an idea of how your property will be presented.

We wish you every success in choosing your estate agent!

Your team at Engel & Völkers Palma de Mallorca

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