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Why only one offer at 35% off

Posted: Mon Dec 26, 2022 1:58am
7 replies443 views5 members subscribed
RichardB

Posts: 4

1 helpful points

Location: Crevillente

Joined: 28 May 2019

I have detached2 bedroom 2 bathroom detached villa 50metres from Oasis shops with off street covered parking. 

The agent knows I need quick result. 

But he has only shown 1 buyer through and they offered 35% off the book price. 

I wonder about why?

Sligogent

Posted: Mon Dec 26, 2022 2:34am

Sligogent

Very helpful member

Posts: 1042

570 helpful points

Location: Torrevieja

Joined: 31 Jan 2021

Posted: Mon Dec 26, 2022 2:34am

Most Estate agents  closed  till  second week of  January,  as  not  many clients  around  this time of year,   

Try putting  some  details  up on  forum  if  you allowed,  nothing  ventured  nothing gained 

Herefordjack

Posted: Mon Dec 26, 2022 8:51am

Herefordjack

Super helpful member

Posts: 886

1114 helpful points

Location: Pego

Joined: 18 Dec 2017

Posted: Mon Dec 26, 2022 8:51am

Did you do some kind of exclusivity deal with this agent? It is the norm in Spain for agents to get bigger fees in Spain than the UK, typically 3-5%, but on a no sale no fee basis. Therefore clients often employ multiple agents.

Kimmy11

Posted: Mon Dec 26, 2022 10:15am

Kimmy11

Legendary helpful member

Posts: 6870

12563 helpful points

Joined: 8 Aug 2017

Posted: Mon Dec 26, 2022 10:15am

Hi Richard,

It's typical for prospective purchasers to make offers at least 10% off the asking price, but perhaps the agent suggested a bigger discount because, as you say, they know you need a quick result?

It would he worth asking your agent whether they advertise on Spain's primary marketing portals, Kyero and Idealista.  Before we moved to Spain, we sold our UK home in the first week of January and I spent many weeks trawling Kyero to identify properties in advance of each of our viewing trips.

Good luck with your sale.

Kind regards, 

Kim

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Kenneth1

Posted: Mon Dec 26, 2022 11:04am

Kenneth1

Very helpful member

Posts: 844

921 helpful points

Location: La Marina

Joined: 3 Feb 2017

Posted: Mon Dec 26, 2022 11:04am

I know of an estate agent in La Marina that sold a house for our friend at a highly reduced price, only because they had to sell in a hurry. Three months later the house was sold at a much higher price by same agent. I personally know this has happened twice with the same agent. 

I can recommend New Start Estates. 

Kimmy11

Posted: Mon Dec 26, 2022 11:31am

Kimmy11

Legendary helpful member

Posts: 6870

12563 helpful points

Joined: 8 Aug 2017

Posted: Mon Dec 26, 2022 11:31am

Kenneth1 wrote on Mon Dec 26, 2022 11:04am:

I know of an estate agent in La Marina that sold a house for our friend at a highly reduced price, only because they had to sell in a hurry. Three months later the house was sold at a much higher price by same agent. I personally know this has happened twice with the same agent. 

I can recommend New Start Estates. ...

...

Hi Kenneth,

I would also recommend using New Start on La Marina urb - they sold my in-laws place in 3 weeks, after it had been on with Zafira for months with no offers.

Kind regards,

Kim 

Stephanie86

Posted: Mon Dec 26, 2022 12:59pm

Stephanie86

Legendary helpful member

Posts: 2786

2102 helpful points

Location: Lliber

Joined: 4 May 2017

Posted: Mon Dec 26, 2022 12:59pm

Much of this will depend upon the condition of the property and whether the asking price is, in fact, realistic. My mother’s house was seriously overvalued by her agent, (I subsequently spoke to two other independents who both assessed the value at approx 30% less, and they were correct), it sold after a year for roughly the 30% lower price, and currently a friend has a finca which is resulting in exactly the same situation and has been for sale for some 18 months.

martynjp

Posted: Sat Dec 31, 2022 7:19pm

Posts: 6

8 helpful points

Location: La Marina

Joined: 15 Jul 2020

Posted: Sat Dec 31, 2022 7:19pm

I would also recommend Newstart. It is important to be on Kyero as a big portal for European buyers.  It is  a difficult time of year with fewer buyers about but not unusual to have several agencies working for you unlike the uk. Best of luck 

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