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Tips for selling a property in Madrid

Selling or renting a house in Madrid, due to the complexity of the current real estate market caused by the crisis and the large supply and demand, is something that's really complicated. In addition, if we add to this fact that, in most cases, finding the perfect buyer or tenant requires much time, effort and dedication. It can become a virtually impossible task for a single person who does not have the right knowledge or experience in the real estate market. Nevertheless, as the Engel & Völkers Madrid realtors, we can offer you 10 tips that will help you sell your property successfully.

1. Ask for a realistic price. Apartments increasingly take longer to sell and, in many cases, this is because their prices are too high. You should bear in mind that the years of real estate boom have passed and that buyers are not willing to pay just any price. In addition, it is advisable that you do a little research and find out the price of other properties in the area in order to adjust your asking price closer to reality.

2. Take care of all the details. It may seem unbelievable, but on many occasions, a real estate purchase doesn't happen because the owner has not decorated, cleaned, or put the house in order prior to the buyer's visit. In general, buyers tend to be very wary of untidy and neglected properties and, for these facts, they become suspicious of the other party.

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3. Get the maximum exposure. Advertisement of the property must appear in the largest number of sources to attract potential buyers. Only through maximum exposure will you be able to gain interested buyers. This applies to all properties except those luxury types or ones that come with special conditions aimed at a specific market.

4. Create attractive ads. Include detailed information and, of course, as many photos as possible. In addition, thanks to the Internet, you can also post videos now.

5. Empty the building before marketing it. In general, buyers don't like visiting properties that are cluttered with furniture because they feel like they're invading the privacy of others. Therefore, if you want to sell your home fast, ideally move out before starting to market it.

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6. Ask a specialist for advice. A real estate consultant will give you all the information you need about the price, what buyers are looking for, the necessary fiscal arrangements and, in general, anything that covers the process of buying and selling a property. Undoubtedly, due to the complexity of this process, it is a good option to seek the advice of a specialist.

7. Keep calm at all times. Anxiety is the largest deterrent against any seller and, therefore, you must remain calm and attentive whenever someone comes to view your apartment. In addition, try to engage in a friendly chat with the potential buyer and, since it is likely that they will try to negotiate the price, make sure you are prepared for this situation well in advance. After all, buyers will always try to haggle a little.

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8. Do not leave the building completely empty. Maybe you have already moved to another house but in any case, it is not advisable to leave the property completely furniture free. It is best to leave some photos and furniture in the rooms so that the potential buyer can imagine his or her belongings there if they decide to buy the property. Furthermore, in the event that you have an attic, put some plants around in order to increase your chances of selling the property.

9. Enhance lighting. Obviously, everyone wants a bright and spacious house in which as much sunlight as possible gets through the windows. In this respect, open all the blinds and try to arrange visits during the day when there is better lighting. In addition, keeping the furniture to a minimal and painting the walls white will help enhance that feeling.

10. Always be honest from the beginning to the end. Being truthful enables you to create a bond of trust that makes the sale easier. If there is any negative points about your property, sooner or later, it will come to light, so it is always better that you play your cards right and reveal the truth in the most pleasant way possible to the interested buyer when it comes to buying or renting. Just think that in many circumstances, the cons can actually be advantageous.

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In short, you should take many factors into account when selling or renting a property in Madrid. Therefore, without a doubt, the services of a real estate agent are virtually essential for the operation to come to fruition. At Engel & Völkers Madrid, we have a large team of professionals with extensive experience dedicated to this sector. Therefore, if you need, or simply wish to dispose of your property, please contact us. We will be happy to put our knowledge and work at your disposal.

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Engel & Völkers

Génova, 27 - 5th floor
28004 Madrid
+34 91 277 45 00

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