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Engel & Völkers Licence Partner Spain > Blog > Mistakes to avoid when selling property to foreign buyers

Mistakes to avoid when selling property to foreign buyers

An estate agent can ruin an international sale in many ways. A maximum degree of professionalism and in-depth knowledge about both the local and international markets is needed to bring the sale contract to a successful conclusion. However, there are six common mistakes agents can make that can ruin this lucrative business. 

1. Providing Inadequate Information 

When selling property to foreign buyers, the more information offered about the property, the greater the chance of selling it. 
It is necessary for the interested party to know right away the asking price, be able to see the high quality photos of the home or business premises and find out the exact details about the condition of the property. The property's special features should, therefore, be highlighted. Don't forget to also mention the existence of swimming pool, garage, terrace or the attic with views. 

2. Not Understanding What the Buyer is Looking For 

Local buyers normally look for a home that allows them to reach their workplace comfortably and have schools nearby for their children. Foreign buyers, on the other hand, may be looking for something near the beach or the airport if they are going to travel frequently. 
Therefore, the real estate consultant must pay attention to these needs and put himself in the place if he does not want to run the risk of destroying a sale agreement. 

 Spain
- Errores a evitar en una venta internacional

3. Delaying Communication 

The distance between the estate agent and the foreign buyer does not have to be an excuse for the lack of communication. In many cases, the delay in phone calls or in sending email will scare away potential investors who seek a seriousness based on communication, so this aspect should be closely monitored. 

4. Giving Vague Information 

You should never think that the buyer already knows which areas of the city are close to the beach, which ones have better connections or the type of shops that are close to them. All this information can be obtained by the local buyer, but rarely ever is it found out by the foreign buyer. 
Thus, it is the job of the estate agent to get ahead of these situations so that there are no problems that can ruin the sale. 

5. Having an Overly Aggressive Business Strategy 

Foreign buyers who come from northern European countries are the most reluctant to these types of techniques. So much so that they can be scared away by agencies that put the sale before the client's comfort. 
It is better to let them take charge and always be available to resolve even the slightest doubt that the buyer may have. 

6. Not Keeping in Touch 

Foreign buyers usually look at the estate agent as someone who will offer them all the support and information they need. A professional who is employed more as a simple salesperson will have little to do with this type of investor. 
Thus, we must overcome obstacles such as language barriers, tight schedules and other similar situations so that the client can rely on a professional who will help him as much as possible.

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