The Ins and Outs of Buying and Selling Luxury Property in Mallorca

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Jennifer Roberts recently talked to Terence Panton, the Managing Partner of Engel & Völkers Palma Centre, about the top end of the property market on the island of Mallorca

 

Jennifer Roberts: How long have you been selling luxury real estate in Mallorca?  

 

Terence Panton: Well, we’ve actively been selling property on the Island of Mallorca for over 15 years, since 1999 to be more precise.

 

Q: Has the demand for property in Mallorca continued to remain high?

 

A: Well, 2013 was an exceptionally good year with an increase in turnover of roughly 30%. There are great opportunities for buyers, and sales are continuing to accelerate in 2014.

 

Q: What kind of market share does your company have in Mallorca?

 

A: I would say Engel and Völkers has approximately 50% market share in the premium property range.

 

Q: Do you have a consolidated team of agents and personal assistants?

 

A: Oh yes, we definitely do! I thoroughly believe that one of the most important keys to success, in any kind of business, is having a reliable, hardworking team of collaborators. Especially an enthusiastic and knowledgeable team of salespeople.

 

Q: Can you provide me with a few recent sales successes? 

 

A: Well, all our property sales are to be considered successes however, to name but a few, I suppose the following three definitely stand out: A spectular luxury first line apartment in the old town, a superb apartment in Portixol with outstanding sea views and a splendid, completely renovated, historic town mansion.

 

 Q: Do you have your own personal Real Estate website for marketing homes and, if so, does it come up in competitive Real Estate searches on the Internet?

 

A: Engel & Völkers invested in an outstanding website (www.engelvoelkers.com/palma) and more importantly it attracts buyers from all over the world. Most potential buyers will type in the country, the region, the city, and other key words like: real estate, property, luxury, estate agent, homes, Spain, Mallorca, Palma etc., etc. We always put our clients’ homes in the spotlight and this is achieved because we understand SEO (search engine optimization) and we always aim at reaching the 1st page of Google and similar search engine rankings for keyword searches.

 

Q: Do you have a Palma “Landing Page” to market your clients’ properties and is it a good marketing tool to drive traffic to their homes?

 

A: Our Landing Page on the E&V website is a great way to promote our properties as well as providing useful information and property reports about our areas.  We create entire articles about a single home, promoting their best features by using multiple photos and descriptions.

 

Q: Do you use social media marketing in your real estate business such as Facebook, G+, Twitter and YouTube to reach potential clients?

 

A: Social media like Facebook and Twitter have become useful tools to help us reach out to an incredible number of potential buyers and sellers and the general public. On all types of media we have our own business page which promotes our company, including properties which we are marketing or,  just interesting and helpful Real Estate articles about the Island of Mallorca. Naturally, we also include a lot of pertinent tips, not overlooking local customs, traditions, curiosities and events with a little innocent gossip thrown in as well!

 

Q: Will you be using video and virtual tours to market your properties?

 

A: Video is another important medium that has really caught on over the last few years and continues to grow.  Buyers love to see a video tour of a property they may be interested in viewing.  Another promising medium is YouTube which gets a lot of traffic and we’ve produced our very first film, using a drone for spectacular aerial shots.

 

Q: Your properties stand out on the Engel & Völkers website. How important is this?

 

A: This is an important question.  Real Estate marketing is all about presentation and standing out from the rest of the crowd, and the competition. We present properties with numerous photos, detailed descriptions highlighting the best characteristics. Surveys confirm that buyers searching online skip properties with only a few photos and no descriptions. This is an enormous piece of the marketing! We make sure our salesperson shows you exactly what your home will look like on the internet.

 

Q: Well, that’s been all very interesting but, I’ve got just one last question for you, why is Mallorca considered one of the best places in the world where to settle?

 

A: It has a lot to do with its splendid weather. Moreover, one has to take these important factors into consideration: the Island’s excellent infrastructures, the outstanding airline connections, topnotch security and first-class amenities such as healthcare and schooling. As an island, Mallorca is alive 365 days a year with great restaurants, fabulous attractions, exciting nightlife… not forgetting stimulating outdoor activities such as hiking: Mallorca has breathtaking mountainous regions with forests. The Tramuntana Range was awarded World Heritage Status by UNESCO as an area of great Physical and Cultural significance.

Last but not least, the sea… beautiful inlets and sandy beaches and fully equipped marinas. Palma’s Marina is the largest and  finest in the Mediterranean.

 

E&V SHOP 2E&V SHOP 1

 


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