Sell Your Property Before Your Neighbor
More than 20% of properties for sale have another home, either on the floor above or below, also displaying a “For Sale” sign. In this situation, many owners are forced to compete on price or wait until their neighbor sells their property. Generally, the one listed at the lower price ends up selling first.
Faced with this situation, REDPISO Sant Antoni, a REDPISO real estate agency with 220 offices across Spain and presence in 7 different international markets, has presented its network with the key steps to define a home sales plan and achieve the sale before your neighbor does.
When putting a property up for sale, multiple factors come into play. Some are specific to the property and difficult to modify, such as its condition, location, and orientation. Others do not depend directly on the home but have a strong influence on its sale.
The five key elements for setting the price of a property are: price, available timeframe to complete the sale, marketing plan, promotion and sales plan, and property viewing.
In order of importance, the company suggests following these steps to achieve the simplest and most successful sale possible.
An Appropriate Price
The price of a property changes constantly, and making the wrong decision in this regard will have a definitive impact on the final outcome of the transaction. For this reason, it is recommended to objectively analyze the market situation at that precise moment: the supply of similar properties, their location, the actual condition of the property, the impression it conveys, and so on.
According to REDPISO Sant Antoni, when a property is listed at a price higher than appropriate, it becomes overexposed and ultimately ends up selling below its value if the price is not adjusted over time.
Available Timeframe for the Sale
The sale of a property is the result of an equation in which the variables are price and the time available to sell it.
If the seller needs to sell urgently, the most reasonable approach is to adjust the price from the very beginning. If there is no rush, the seller should at least set a timeframe — three months, six months, but no more than six months — and make price adjustments during that period until the property is finally sold. The final selling price is always determined by the market.
Marketing Plan
The first step before beginning to market a property is to analyze its qualities in order to create an appropriate promotion and sales plan.
To sell a property in Sant Antoni or in any of Barcelona’s historic neighborhoods, the agency recommends carrying out an in-depth study of the potential buyer profile. This information will be key when choosing the most suitable communication channels to promote the property.
It is also important to analyze the advantages and disadvantages of the property, as this will help set an appropriate price and determine whether any improvements should be made before putting the home on the market.
It is essential to prepare the property for sale, especially by applying Home Staging techniques.
Promotion Plan
Real estate companies are increasingly focusing on personalized real estate marketing. In other words, depending on the characteristics of a property, they choose one type of promotion or another.
In more and more cases, this includes tools such as virtual reality and 3D technology, social media presence, content marketing, Google Ads, and other digital strategies. These are combined with more traditional tools, such as listings on major national and international real estate portals, property profiles that include a professional photo and video report, direct promotion, and even automatic mailings to potential buyers from the agency’s database.
The Viewing
Once the attention of a potential buyer has been captured, the next step is to properly prepare the property viewing. This is another crucial stage: in the first 90 seconds, a buyer knows whether they are interested in the property or not.
A home that is excessively hot and poorly ventilated, dark, unpleasant-smelling, or very noisy will make it highly unlikely for a buyer to feel that immediate connection.
