It is possible to sell a Las Palmas property within a month of putting it on the market. It’s not easy, and takes a huge amount of work, but I know it can be done because I have just sold an apartment in Las Palmas within 27 days.
I didn’t have to reduce the price of the property to under the market rate to achieve a fast sale. The key was to get it on the market quickly and make sure that it reached the largest possible number of buyers.
Here’s how it happened…
Day 1: The owners contact me via my Facebook page.
Day 2: I visit the property and meet the owners. It’s a lovely one-bed flat close to Las Canteras beach.
Day 3: I do a price study and tell the owners what I think their property would sell for. They agree.
Day 4: We sign the contract.
Day 6 (Sunday): We photograph the property (the advantage of having a husband who’s a pro-photographer) and hang the sign.
Day 7: I list the property on the RE/MAX website, the shared MLS database, 15 national portals and international sites. Leaflets printed for local marketing.
I contact buyers that I know are looking for this kind of property, and distribute leaflets in the area around the property.
Week 2
Viewings, viewings, viewings. Over 20 potential buyers visit the property during the first week that it is on the market. Two were people I contacted and from leaflets, and the rest come from other estate agents connected to the MLS database.
Read this to find out why you have to list your property with an agent who shares their properties in the MLS database.
Week 3
Another 10 viewings plus several second viewings from interested buyers.
Reservation: Buyer puts down 300 euros to reserve the property for three days. Viewings suspended.
A second buyer wants to reserve the property.
Week 4
The reservation lapses over the weekend but the second buyer decides to buy the property for the asking price. She is an investor looking for a good rental property and therefore a cash buyer. This speeds things up.
The rest of the week is a blur of paperwork as I get everything ready for the transfer of ownership at the notary.
27 days after I first hear from the seller, the keys change hands.
The key elements of an efficient Las Palmas property sale
Sales normally take longer than 27 days, but quick sales happen when properties are well listed and marketed.
- Quality photography attracts attention online
- Listing on local and international property portals means more interest
- The shared database brings in active buyers from every agency in the city
- Good agents have buyers on file and can contact them straight away
The key, in this case, was the MLS shared database. Other agents saw the property as soon as it listed and told their active buyers about it.
The property was a perfect rental investment flat and got lots of interest. I had over 50 inquiries and did 30 visits before the property sold.
Of those 30 visits, none came via a phone call from the big sign I stuck in the window.
Around 10 were buyers that I contacted because the property matched their requirements.
The other 20 buyers came via other estate agencies in Las Palmas who found the property in the shared MLS database.
The power of sharing
Almost all quality Las Palmas estate agencies are part of the shared property database. They upload all their properties and can see and show all the properties listed by other agencies. When they make a sale, commissions are shared.
Sharing means that each property in the database gets maximum exposure and has the best chance of selling at the right price. The more buyers that visit a property, the more offers you get and the less need you have to accept a low offer.
Contact me via this form if you have a Las Palmas property that you want to sell, or if you have any questions about buying oir selling a property in Las Palmas. I’ll be in touch straight away.
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