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Selling

YOUR MOTIVATION FOR SELLING

Explore your motivation for selling. Everybody has a reason to sell. If you aren’t truly motivated nor committed to selling you could be setting yourself up for disappointment. Maybe this is not the time to sell for you? Perhaps spring would be better?

Try comparing the pros and cons in a written list to determine if you are making the right move. Talk to trusted professionals.

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HIRE EXPERIENCE

A professional Real Estate Agent should represent you and will be responsible for looking out for your best interests. Interview and meet with at least 3 real estate agents. Consider their experience. Ask questions about their brokerage contract, including the length of time the home will be listed. Ask each agent to present a comprehensive marketing plan that explains what they will do to market your home. In addition, ask the agents to prepare a comparative market analysis for you and ask each for their opinion about the following:

HOW TO PREPARE YOUR HOME FOR SALE

Compare suggestions and consider accepting the most sound advice. Generally, you will follow the rules to declutter your home.

WHAT TO REPAIR BEFORE SELLING

Not all resale repairs will pay off. You don’t want to spend a lot of money making improvements but you do want to repair obvious maintenance issues. Ask for professional guidance or you will probably spend more on things you don’t need to fix.

HOME STAGING

Ask your agent if he knows how to stage. Surveys among US real estate agents have shown that proper staging can reduce sales time by one-third to one-half and increase sales by 10-15%.

PRICE YOUR HOME

Do not select an agent based on suggested sales price. Some will overbid each other to get the listing. But do not overprice. Homes that are overpriced often sell for less than the market value. Try to compare similar homes sold within the past 3 months to determine value.

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LET THE AGENTS GIVE YOU A VALUATION

A vendor’s biggest mistake is to overprice a home. Set your asking price in line with sold homes identified in a comparative market analysis report.

Consider whether your market is a buyers’ market or a sellers’ market and price according to the market climate.

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MARKET YOUR HOME

Your agent should identify the decisive selling points and choose a marketing strategy.

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ACCEPT VIEWINGS

If you’re wondering about what’s better, a lockbox or appointments to be present at viewings: you’ll probably get more viewings if you let agents use a lockbox.

Your home will show better if you sell in spring, autumn or winter in the Algarve. Mind, you’ve got only one chance to make a good first impression, so prepare your home well.

Ask your agent for buyer feedback so you can adjust your price or marketing campaigns accordingly.

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COOPERATE WITH AGENTS FOR VIEWINGS

Ask your agent to provide you with a viewing checklist.

Prepare your home for each viewing, from the basement to pool area.

Make sure you are thoroughly ready for any second viewing.

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RECEIVE OFFERS AND BE READY TO NEGOTIATE

Don’t feel offended with a low offer – just make a genuine counter offer. Don’t ignore offers ever.

If you feel the offer is perfect, accept it. Don’t anticipate that your asking price is too low. The buyer has the right feel about the value of your home and your real estate agent has been working well.

Don’t be afraid to make a full price counter offer, if your asking price is competitive and if your home is priced right, prepare yourself for multiple offers.

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NEGOTIATE A REQUEST FOR REPAIR

Generally, vendors don’t need to accept a buyer’s request for repair, but it makes sense to show your good will.

You are entitled to a copy of the surveyor’s report if the buyers request repairs. If you do not choose to make repairs, a buyer might accept a cost credit instead.

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SELL BEFORE BUYING

The moment your home goes on the market, you might be tempted to browse properties for sale and even view homes. Don’t get carried away too early. It is pretty much always more profitable to sell before buying.

Once the money will be on your account and your property sold, you will have sufficient time to look around. Meanwhile, ask your agent to get a portfolio ready. Be patient, your time will come.

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