Property buyers in Spain and People who know better

We have been doing sale work in the property market for 30 years as real estate solicitors and consultants. We know what we are doing, we give people facts about the situation here, about the market and about everything to do with moving to live here. We demonstrate knowledge and when we are wrong (because the facts change) we tell you how things have now changed and what the new situation is.

But some people know better don’t they?

They know that owners will accept low offers (See below) because they need money and need to sell. They think everybody in Spain is desperate to sell. (English media fake news, they invented fake news in the XVI century). They know that such and such a property is overpriced, they know that their money is better than other people’s money, they know that Spain is a poor country and they know they can get whatever they want at the price they offer.

Let’s face it they know everything.

Nevertheless there is one thing they don’t know, they don’t know that we don’t need them as clients. We wish them luck on their visit to Spain and wave them goodbye with a short email because we will never be able to satisfy their immense knowledge.

The truth is you may know much more than me and the people who work with me but between us  we have over a century of living and working in Spain, we are all fluent Spanish, English and Dutch speakers, we are real estate solicitors and we have been there and done that. If you know more then cool, demonstrate it, don’t just come over with a fixed idea which is invariably false.

Low Offers

The news in your country can be very confusing, “Brexit made thousands of brits sell their property and go back to UK”. FALSE. “Covid19 has made property prices drop in Spain”. FALSE. Prices are going up. Now the demand for real estate is much higher than the supply, so it is a sellers market, and if you get a 2% reduction you are lucky. When you tell us that you will only be making offers that knock at least 20-30% off the asking price because… well, just because…those days are gone, then we usually concentrate on other clients. We’ll let you know what an owner is likely to accept and what will be considered a decent offer even if not accepted. We have said this before but if you obviously lowball the owner will do one of two things, stand their ground and not drop even one Euro or politely (Or not) tell you to take your money and spend it elsewhere.

Thanks to Valencia-property.com English agents

Before house hunting, are you pre-approved by your bank?

This week I had a Dutch couple that want to buy an apartment in Denia. It was their second trip to Denia and they were very disappointed because in their first trip they found the right apartment and they went back to the Netherlands to talk with their bank. Of course when they came back the apartment was sold to a family from Madrid. This also occurred with some Spanish and some English buyers. Why do people do this? It is a waste of time and money for the buyer and the agent.

I lived in US for several years and people do it the other way around, once you have been in your bank, you know how much you can pay and then you go out house hunting. Why is the real estate culture in Europe so backwards? People don´t even know what is a local MLS listing and what you must do to sell or buy a property. The result is duplicated viewings, confusion, lost of control, a lot of internet search and leg work.

So next time TALK WITH YOUR BANK FIRST and look for a good realtor or a real estate solicitor, they can show you all the properties for sale in the area so you do not need to contact all the agents in town.

MLS Valencia MLS Gandia MLS Denia MLS Moraira MLS Calpe MLS Alicante

MLS Torrevieja MLS Elche

Property owners that know better. Greed breaks the sack.

Sept. 2021

We have been doing sale work in the property market for 30 years as real estate solicitors and consultants. We know what we are doing, we give people facts about the situation here, about the market and about everything to do when selling. 

We demonstrate knowledge and when we are wrong (because the facts change) we tell you how things have now changed and what the new situation is because the market can change very quickly. We are in the notary every week assisting sales and we see what people are paying for properties.

We have access to The Property register´s (Registro de la propiedad) database to see the latest sales and how much has been payed for properties in the area, these are SOLD properties that show the real market value.

Yes the market has changes and it is a seller´s market now, but a question that must be asked to every seller: “Do you want to sell to somebody in the group of people that are searching for a property to buy in this moment or do you want to sell to somebody that will be looking to buy in 2023? If you want to sell now, listen to the market and adapt to it, if you don´t like it, wait and don´t put your property for sale or it will sit in the market for years if you overprice it.

Some people know better don’t they?

They know that buyer´s will pay more for their property because their house is better than other ones in the street because… well just because it´s theirs. They set the price based on how much money they need or how much is the the next thing they want to buy, that´s how they calculate the asking price.

But if the asking price is above market value they will not sell, and the best part is that if they can not sell because the price is above market value the fault will be for the real estate agent, “They just do not do enough…” A Spanish agent will responde “Milagros, a la virgen de Lourdes”, in English “If you want a miracle go to the virgin Mary of Lourdes“.

Then we have the sellers that are confused. A swimming pool, a new kitchen or new bathrooms raise the value of a property, painting, fixing the roof or new windows are maintenance you must do and will avoid buyers to make low offers, but does not raise the price of the house.

Let’s face it they know everything.

Nevertheless there is one thing they don’t know, they don’t know that we don’t need them as clients. We wish them luck on the sale and wave them goodbye with a short email because we will never be able to satisfy their immense knowledge.

The truth is you may know much more than me and the people who work with me but between us we have over a century of living and working in Spain, we are all fluent Spanish, English, German and Dutch speakers, we are licenced real estate solicitors and we have been there and done that. If you know more then cool, demonstrate it, don’t just come over with a fixed idea which is invariably false.

 

Estimado vendedor de su vivienda

¿Comprarías un vehículo anunciado en CUATRO precios diferentes? Piénsalo bien. Es extraño ¿Verdad? Podría sonar incluso a estafa.

Entonces…. ¿Porque crees que tu vivienda se va a vender mejor con cuatro precios diferentes?

Un comprador que ve esa misma vivienda en varios medios con diferentes precios, con la dirección oculta, (ocultan la dirección, que es lo más importante para el comprador) sin las fotos del edificio, sin esa imagen ganadora ante las demás viviendas…. no te va a llamar, a menos que sea para subastar la vivienda… a la baja.

Trabajar en #Multiexclusiva (no exclusiva de agencia única) con una Agencia Inmobiliaria consolidada evita que desconfíen en tu vivienda y se convierta en un “bulto sospechoso”, con solo un Interlocutor… pero conectado a mil agencias en la MLS local.

UN SOLO PRECIO defendido a tope por agentes entrenados en las Técnicas de Negociación más profesionales.

Un responsable que asuma ese trabajo y te informe, minuciosamente del proceso de venta.

Porque esta demostrado que contratar una agencia inmobiliaria da mejores resultados que “dar permiso” a cuatro para que enseñen tu vivienda. (ninguna va a invertir mucho esfuerzo ni dinero, te lo aseguro)

Buscamos personas a las que ENTREGARNOS en Exclusividad, porque nos gusta comprometernos.

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Gracias a Luis Iglesias Embassy Levante MLS Torrevieja

Spanish coast real estate markets in July 2021

People have preconceptions about the property markets they are interested in and most of the times those impressions are totally wrong . What do you think is happening on the Costa blanca?.  This: The Spanish coast second home vacation properties are experiencing a hectic July, with more sales than ever in the last week and the undecided people deciding because the catastrophic and general lack of product can leave them homeless. The recovery is not only taking place on the Mediterranean coast and the Balearic Islands, but also in the rest of Spanish coasts. The absence of many foreign buyers, still with mobility problems, is being overlooked by an increase in the national buyer, even those who live in the province itself, is looking for more meters and comfortable homes. Anything with a terrace, balcony, plot is selling. Despite the decrease in foreign visitors, these sales continue to be carried out especially by French and Germans. Homes get sold quickly and at or very near to asking price, so forget about those low offers you like so much.

Thanks to Valencia-property

The internet mishmash

Internet is a hodgepodge with many old advertisements, under offer, reserved and SOLD properties that had not been removed yet. The photos you see on internet differ greatly from reality anyway.

Do it the American way. Choose a town and contact a good local CRS agent, (residential real estate council) RealtorⓇ or a Real estate lawyer instead of searching for a house . It will save you time and money.

Not everything in internet is instantaneous and done in real time. All the properties for sale are not even advertised (off market properties). In deniacasas.es we have our own website which we keep up to date at all times. As soon as a deposit is left on a property we mark it as under offer, reserved or sold and then once the final signing comes we take it off the site, property advertising portals take more time, we do not do this manually, it is done automatically by a XML feed, so our advertising will still be published and will stop in a day or two, so do not be surprised if you will inquire about properties that are not available, specially when the market is very busy, like now. (Denia, July 2021)

The wrong concept about Spain and the real estate market (again).

If you believe everything you read in the news in your country or on Facebook and other social media I’d say you had recently had a brain wash or at least you would be on your way to one, but there does seem to be an expectation on social media totally divorced from reality. Newbies to the Spanish costas property world seem to think that they will get 20, 30 and even 40% off the asking prices just because they make an offer. Many ignorant people with a pushy attitude are very disappointed. Allow me to disabuse them of that notion with a simple question, “Is that happening where you are from?” Because if it isn’t why on Earth would it be happening here?.

Do you have the feeling you are the only one buying in Spain? The urbanistic pressure on the Spanish Mediterranean coasts is very intense. Imagine, thousand of Spaniards, Europeans, Russians, North and South American willing to buy a property here. Is this happening in your country? Probably not. Right now the demand is booming and properties are sold every day.

Who is buying right now? Spaniards from inland in the first place. Second, French, German and Dutch buyers that are in the village they selected (yes, first you select a region, a town and then you contact a local agent and start searching for a house, in that order, estate agents are not tourist guides) and viewing properties. So contacting an agent from your home in your country to ask what colour is the bathroom floor, or telling the agent that you will travel to Spain in two months, is a waste of time. Things go faster here. If you contacted because you have seen a well priced home, it will be sold in a few weeks. deniacasas.es

Ofertas a la baja (muy a la baja)

Algunas personas lo saben todo, ¿no es así?.
Saben que los propietarios aceptarán ofertas bajas (ver más abajo) porque necesitan dinero y necesitan vender. Saben que tal o cual propiedad está sobrevalorada, saben que su dinero es mejor que el dinero de otras personas, Y saben que pueden conseguir lo que quieran al precio ellos ofrecen.

Seamos realistas, lo saben todo y conocen el mercado local mejor que los profesionales que llevan 30 años pateandose ese mercado todos los dias.

Sin embargo, hay una cosa que no saben, no saben que los agentes de la propiedad no los necesitamos como clientes. Les deseamos suerte en su visita a Denia y les decimos adiós con un breve correo electrónico porque nunca podremos satisfacer sus inmensos conocimientos.

En este momento la demanda de inmuebles en Denia va siendo superior a la oferta, por lo que es ya es un mercado de vendedores. Si, el mercado cambia constantemente y puede cambiar rapidamente, lo que sabias ayer, hoy ya no es valido. Cuando se hace una oferta ultimamente, si consigues una rebaja de 5000 €, tienes suerte.

Cuando nos dice un comprador que solo hará ofertas que reduzcan al menos un 20-30% el precio de venta porque … bueno, solo porque si, le digo que esos días pasaron hace mucho tiempo y entonces generalmente no perdemos el tiempo, nos vamos y atendendemos a otros clientes. Le informaremos cual es la cantidad probable que acepte un propietario y que se considera una oferta decente. Ya le hemos advertido, pero si obviamente no le importa, el propietario hará una de estas dos cosas, se mantendrá firme y no bajara ni un euro o cortésmente (o no) le dirá que tome su dinero y lo gaste en otra parte.

Is your agent a buyer´s agent or a seller´s agent?

In Europe we have a very poor real estate culture, no matter if you come from Spain, Belguim, The Netherlands, Germany or England, other countries are 90 years ahead.

Last week I had a couple of buyers from The Netherlands and we where visiting properties from my partners from the local association of real estate agents MLS Denia. At one point my client asked why were we viewing properties from other agents, he found this very strange. I could see he had no idea how buying a property works.

“It is very simple. He is the seller´s agents, so he will look after the interests of his client. I am your agent, the buyers agent, and my job is to get you the best price possible.” Do you understand it now? You do not pay more because the two agents will share the commission that is always payed by the seller. Do you have a problem with that?

I also have properties in my portfolio that come direct from the seller but If I work with 25 MLS agents I have a very wide range of properties for you to see so you do not have to jump from one agent to the other, saving you time, money, legwork, confusion and duplicated viewings to the same house by mistake. Is that bad for you?

Sometimes a buyer wants to buy a house that I have direct from the seller, then I must act like a “dual agent“, that´s when the seller and the buyer are my clients, so my job is making sure both sides are satisfied, I am the referee. People think that this is how it works all the time but it is not easy at all and has more conflict situations.

When you buy with an agent in a new development it does not cost you more. It is the same price. When we have new developments for sale it works different than private sales. We are independent and have no commitment with developers. We work for several developers as their sales force assisting them with marketing and advertising. But we will always be working for the buyer, our client. We really do not care in which development you decide to buy. Same happens with bank properties.

deniacasas.es

Real estate consultants and lawyers