When to lower your property’s price, helpful tips.

Bajada en el precio vivienda

In the ever-changing landscape of the real estate market, the duration a property spends on the market can be crucial for its sale. Previous experiences indicate that as this period lengthens, the challenges of closing the sale increase. To avoid stagnation in the sale of a property, it is essential to identify its true value from the beginning; otherwise, the need to lower the home’s price becomes inevitable.

Ideal time for selling a home.

While there are statistics providing estimates on the average time it takes to sell a house in Spain, it is crucial to understand that these timelines are relative and influenced by a variety of factors.

In general terms, a property might stay on the market for 6 to 8 months, but this period can be shortened to three months in more active areas, while in provincial or rural regions, it could extend beyond a year.

The speed of the sale is not solely related to location. The features of the house, its legality or defects, and especially the initial price play a crucial role.

The dilemma of deciding between adjusting or waiting

Typically, a home entering the real estate market with a reasonable price has the ability to attract buyers immediately. Serious buyers often conduct frequent searches when determined to acquire a property, staying informed about prices and market dynamics.

Current buyers have tools and knowledge to compare, enabling them to make informed decisions about how much they are willing to pay for a house. Therefore, their interest becomes a key indicator to determine if it is the right time to lower the home’s price.

In an active market, there are two basic signals that a property has not generated the expected interest:

  • The average selling period in the area has been exceeded.
  • It has not received visits, or if it has, they have not translated into offers. In the latter case, 10 days are sufficient to determine if buyers were genuinely interested in the home’s price and features.

In addition to these reasons, it is crucial to recognize that the real estate market is dynamic and subject to trend changes. Sometimes, a price adjustment is essential to maintain the property’s appeal amid shifts in the real estate market.

Mercado inmobiliario competitivo

Bringing a property for sale out of oblivion

Optimizar el precio de venta es crucial, pero antes de considerar una reducción, hay que tener en cuenta otros aspectos:

  • Abordar las reparaciones esenciales y aplicar la técnica de Home Staging para crear un ambiente más neutral y atractivo puede ayudar a amplificar la percepción de valor de la propiedad ante los posibles compradores sin tener que retocar el precio de la vivienda.
  • Optimizar el anuncio es esencial. Generar una conexión emocional con el comprador es un factor clave. Fotos profesionales que capturan la esencia de la vivienda con una presentación ordenada cautivan al comprador. Además, un texto que va más allá del convencional “bonito piso con…” resulta más atractivo. El objetivo es evocar emociones y recrear la experiencia de vida en la vivienda.
  • Evitar reducciones mínimas y constantes. No son aconsejadas, ya que los compradores activos suelen estar familiarizados con las propiedades en venta y sus precios. Esta práctica puede tener un impacto negativo para futuras negociaciones.

Si la vivienda se encuentra estancada desde hace más de 4 meses, desde Real Estate Balear sugerimos retirarla del mercado por unos días o semanas, para que se enfríe, antes de volver a presentarla con un precio más acorde al valor ofrecido.

Recuerda que para agilizar el proceso de venta de una propiedad, es fundamental establecer un precio de la vivienda realista y competitivo desde el principio.

Optimizing the selling price is crucial, but before considering a reduction, other aspects must be taken into account:

  • Addressing essential repairs and applying Home Staging techniques to create a more neutral and appealing environment can help amplify the perceived value of the property to potential buyers without having to adjust the home’s price.
  • Optimizing the listing is essential. Creating an emotional connection with the buyer is a key factor. Professional photos that capture the essence of the home with a neat presentation captivate the buyer. Additionally, a description that goes beyond the conventional “beautiful apartment with…” is more attractive. The goal is to evoke emotions and recreate the living experience in the home.
  • Avoid minimal and constant reductions. They are not advisable, as active buyers are often familiar with the properties for sale and their prices. This practice can have a negative impact on future negotiations.

If the home has been stagnant for more than 4 months, Real Estate Balear suggests temporarily withdrawing it from the market for a few days or weeks to let it cool off before reintroducing it with a more appropriate price based on the value offered.

Remember that to expedite the property selling process, it is essential to establish a realistic and competitive home price from the beginning.

Como encontrar el precio correcto de la vivienda

How to find the right price for the property

The use of online property valuation tools can provide a general overview of the listing price but often lacks reliability by not considering crucial aspects such as pending assessments, illegalities, potential defects, or the safety and amenities of the neighborhood. The buyer seeks a living experience, not just an object.

For this reason, the guidance of a professional real estate agent can be invaluable in determining a fair and competitive home price. Alternatively, a valuation expert can be consulted, albeit at a cost, to obtain an official document that provides a prominent position when presenting the property to buyers.

If you’re looking to sell your house in Mallorca and need assistance, Real Estate Balear is here to help you effectively and promptly. With our market experience and analysis, we can find the most effective price and strategy to attract buyers to your property.

Don’t waste any more time; remember that every day that passes could be a missed opportunity.

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