Las Palmas property is in high demand but it is key to make sure buyers know about it
Planning to sell a property in Las Palmas and wondering how to go about it? This guide explains why listing it with a quality estate agency is the best way to make the sale promptly and at the best possible price.
Case study
Property prices rising in high-demand Gran Canaria areas
Recently, I sold a property on the frontline of Las Canteras beach in three months after it had been on the market for two years. Rather than reducing the price for a quick sale, I increased it because a market study showed me that it had been undervalued by the owners.
Why hadn’t it sold at the original low price? Because there’s no point having a property on the market if nobody knows about. And no point advertising a quality property with poor quality photos.
The owners of this particular property had a small sign in the window and had it listed on a couple of websites. However, they didn’t have it listed in the shared property database, the quality portals or on any international portals. And they had used mobile phone photos in the listings.
After I took over the process, we photographed the property professionally, listed it in the shared database and the Spanish and international portals; and started showing potential buyers around within days.
Everybody who was looking for property in the area found it and every agency in the city with a potential buyer brought them to see it. In total, we showed it to over 30 potential buyers.
It sold within three months because it was well-photographed, well-priced and well advertised.
Price: Getting the initial sale price right is vital
The first stage of selling a property is to make sure that the asking price is correct. At RE/MAX Cony we do a detailed market study every time we list a property. This takes into account the current market for the property type and location, similar property in the area that has sold, and similar property that is on the market but hasn’t sold. We gauge the market and produce an accurate price bracket for each property.
At the lower end of the bracket, the property will receive lots of interest and is likely to sell quickly. At the higher end, fewer people will be interested and the sale takes longer. Listing property at a price that is too high damages its chances of selling at a later date as potential buyers get used to seeing it unsold and assume that it is still overvalued.
Photography: Quality photography attracts buyers who search online
Once we agree a price with the owner, we take professional photographs of the property.The key here is to show the property in a good light without making it look unrealistic.
The key here is to show the property in a good light without making it look unrealistic. Buyers must see a property looking attractive but also be able to judge whether they want to see it.
Quality photos of your property make it stand out in the marketplace.
Promotion: Covering all the bases
It’s not enough to list a Las Palmas property on a couple of Spanish property portals and on an estate agency website. Property buyers in the city are diverse as they come from all over the Canary Islands, Spain and Europe.
To make sure that as many people as possible see a property, it has to be promoted widely, both online and offline.
At RE/MAX Cony we list every property in the Gran Canaria shared property database. This means that almost every quality estate agency on the island can see the photos and detailed information about the property and can tell their clients about it.
We also list each property on a selection of Spanish-language portals as most buyers these days start their property search online via a property portal.
At RE/MAX we also list properties on international portals like RightMove if they of interest to foreign buyers.
Of course, the internet isn’t everything and lots of people still pick up our regular property newspaper. We also flyer the surrounding area because local people often want to buy close to their current home.
Presentation
With agents that speak seven languages in the RE/MAX Cony office, we can almost always show potential buyers a property without any communication problems. Having someone present who can answer their questions makes buyers far more relaxed.
Every potential buyer views along with an experienced agent who knows all about the property and the area.
Professionalism
Once a buyer is ready to make an offer, we can take both buyer and seller through the whole process of making a reservation, preparing a contract and buying the property. The process is straightforward but does involve a lot of steps so experience is vital to make sure that happens seamlessly.
And the R
Results
Properties listed with a quality agency sell quicker and almost always for a better price that properties sold privately because of the 5 Ps; They bring in more potential buyers and mean there is less pressure on the owner to negotiate over price.
If you have any questions about selling a Las Palmas or Gran Canaria property, please feel free to contact me and I’ll be in touch straight away.