Selling a property in Tenerife today is no easy task with the current market conditions being what they are. The main challenges a vendor faces are that the supply exceeds the demand. If you combine this with some of the bargain buys on the market, be it from a private vendor or through one of the many bank repossessions, a buyer has so many properties to choose from that he can basically take his pick and get the lowest price possible. So, if you want to make your property stand out from the rest and get it sold at its true value as quickly as possible, here are a few tips to follow:
- Take a step back and have a look at the property. Would you want to buy it? Is it clean? Is it tidy? Is it in a good state of repair? Is it modern? If the answers are no, then you may need to invest a little time and maybe a little money to bring it up to scratch. If the kitchen or bathroom is outdated, maybe a bit of a face-lift is needed. If you can’t afford a full refurbishment, then perhaps look at new cabinet doors, new fixtures and fittings, fresh grouting, new lighting etc. Even a fresh coat of paint can make a world of difference to a room.
- Be reasonable with your asking price. Make sure it is in line with similar properties on your complex or in your surrounding area. Be careful with huge price reductions as people will wonder why and may think that there is something wrong with the property. And remember, the initial asking price is rarely obtained so be prepared to negotiate. Take advice from your estate agent, they are the ones working in the industry and will be the best ones to advise you.
- First impressions! This is the key! Make your house stand out from the first moment it is seen. Prepare it for viewings – and don’t forget – your very first viewing is with the estate agent when we come to see your property and take pictures. Make sure your property makes the best impression on the estate agent, because if we fall in love with your house, chances are any prospective buyers will too.
Buying a property is very often based on “feeling” and some people get that “feeling” as soon as they step through the door. They may have their fixed idea of what they are looking for in a property but if a particular house or apartment feels right, then sometimes their wish list can end up out the window. To ensure that your property has a good “feeling” about it, make sure that it is clean and tidy, that there isn’t any clutter lying around. Open windows; let light and fresh air in. And another failsafe trick to make your property feel as homely as possible is to put some fresh coffee on and some bread in the oven! They’ll be wanting to move in there and then!
- Be patient. Usually, with the odd exceptions, it can take time to find a buyer for your Tenerife property, sometimes months, sometimes even years. Don’t compare the Tenerife market to the property markets in other countries and cities, such as London or Moscow which have very dynamic markets where demand still exceeds the supply. Tenerife has a different pace and you need to be prepared for this and give yourself and us time. However, in the meantime, you need to make sure that your house is always at its best and ready for an “unexpected” viewing. Even though we will always try to give you at least 24 hours notice, sometimes we may get a call out of the blue and the client asks to view the property in the next hour! But an ad hoc call like this could well be the potential buyer you’ve been waiting for! So be prepared!