According to the data of the appraisal agency Tinsa, the average time to sell a house in Spain is 10.2 months. Cantabria is the region where it takes the longest: 18.6 months. And Soria and Santa Cruz de Tenerife where less, 7 months.
By cities, Madrid is the one with a more dynamic market: the average to make the sale is 5.8 months. It is followed by Barcelona with 6.1 months Houston house buyers.
A report prepared by the real estate network Monapart concludes that it usually takes longer than necessary to sell the house because:
- The appraisal of the property is not adequate.
- The situation of the market in the area is unknown or not studied.
- The operation is not managed effectively.
The report argues that it is possible to reduce the time of sale to less than four months if these ten tips are followed:
- You have to select a good real estate agent. Find the ones that work the most in your area and compare the number of operations they get and how long it took them to complete them.
- Make a realistic appraisal of the home. Go to a recognized appraisal agency and find out the prices of the homes that have been sold in your area.
- Create a sales plan with your agent: minimum price and maximum time of the operation. Let yourself be advised by him because he is the one who best knows the market situation.
- Find out about the strategy you will use to sell it. Photographs, online advertising … There are agencies that record salespeople explaining the characteristics of the house and then upload the video to their websites. The more varied the marketing plan, the better.
- Study with your agent the improvements that the house would need to accelerate the sale (painting, floors, bathrooms …). According to the experts of Monapart, “it is demonstrated that the buyer values the improvements 25% above their real cost”.
- Save the invoices for these improvements because you can deduct them from the taxes on the profits from the sale.
- Create an environment conducive to the sale. The house should resemble a pilot floor: clean, tidy and, where possible, without decorative or personal objects in sight.
- Do not be present when the house is shown. Prospective buyers feel more comfortable when they can browse freely and ask for any clarification from the real estate agent.
- Requires being aware of the evolution of the sales process: advertising, number of people interested, offers, comments … Analyze that information with your agent.
- Check that you have all the necessary documentation to carry out the transaction. As they point out from Monapart, “sometimes they have lost or complicated operations because at the time of signing, the writings did not appear.”