It's A Good Time To Start Selling Property in Spain

Published on 24/07/2007 in Buying Process

I was having a chat with a good friend the other day about Eye on Spain and how we plan to grow it substantially over the next few months.  As with any business we are always restricted by two factors, money and time.  We have the knowledge, ideas and enthusiasm to grow it and drive it forwards.

The “time” factor we can easily overcome.  Improve efficiency, hire more staff, etc.  Time isn’t really an issue, we just think it is.  I often hear many people tell me that they would love to start their own business but they just don’t have the time.  Rubbish.  Everyone has time.  Get up an hour earlier in the morning, go to bed an hour later in the evening and if you really want more time….throw the telly out the window (just make sure no one’s walking by first!).

But the ‘money’ factor is more complicated, so we’ve been looking at some options to bring in some more cash so that we can further develop the website (and others too).  We have some good ideas but my friend suggested we become an estate agent!!!

What a crazy idea, what with the Spanish property market being relatively slow and the fact that we are not sales people and we didn’t come here to sell property.

But actually, is it such a crazy idea?  We spent a bit of time looking into this and actually we came to the conclusion that there’s probably never been a better time to get involved in selling property in Spain.

Now you must think I’ve really lost it…but let me explain, and for anyone contemplating coming to Spain to sell property then take notes!

With Eye on Spain we are in quite a unique position in terms of our view of the market and who’s buying what and where (although predominantly off plan).  We have a good feel for buyer demographics and we know what people want and what their frustrations are.  How do we know what we know?  Our forums.

We have over 600 active development forums covering developments all across the south of Spain and also our general Spain forum.  We monitor these EVERY day.  We monitor them not to pry but to moderate them.  They have in turn given us an immense understanding into buyer behaviour and the problems they encounter and most of all….their frustrations!

Couple that with the many requests we get from people who already think we are agents and we could easily be selling property here in Spain.  In fact, I truly believe that if tomorrow we opened our doors as a real estate company selling property here we would be inundated with requests.  Why?

  1. No matter what anyone tells you there is always going to be a demand for property in Spain.  
  2. We’ve built up a trusted reputation over the years before we even considered selling property.
  3. We flood our members with FREE information every week through our newsletter articles, podcasts and sometimes even videos.
  4. We have open forums on the site where buyers can share ideas, photos, information, etc, as well as making new friends.
  5. We have the knowledge through three years worth of feedback and monitoring discussions to know what the buyer wants.

In other words we would do well selling property because WE’RE DIFFERENT.  We wouldn’t just be jumping in head first, we’ve been around for a while and even though some people hate us (yes there are some, although I won’t name any names) most people actually like us because we’re open, honest and up-front….words many estate agents in Spain couldn’t even begin to utter.

To be honest though, I’m not a salesman and even though we could take on sales people we are not here to sell property, which is a shame as we could easily use the cash generated to build up Eye on Spain even quicker.

But I’m new, could I still sell property in Spain?

Yes, of course.  I still see new estate agencies opening up in Spain, despite the fact that many are closing down.  Do they know something we don’t?  Probably not.  The new ones will probably be keen and work very hard to build their business, whilst the ones closing down will be doing so because their whole attitude will have changed with the slow down in the market and the need to reduce overheads.

If you’re new on the scene you can take advantage of the fact that many of the more established players tend to be more stuck in their ways and tend not to do anything too radically different, even if they aren’t making so many sales any more.  And today’s buyer is very different to yesterdays.  Those who adapt succeed.

Be different and don’t be afraid if people don’t like you and what you’re doing.  I had someone unsubscribe from our newsletter a couple of weeks ago stating the reason for unsubscribing as “I hate your chatty patronising style”.  Three years ago that would have upset me but in business you soon realise that not everyone is going to like you or your business.

I really don’t think it’s such a crazy idea starting out selling property in Spain now.  You just have to be different and earn a reputation for yourself.  Give, give, give and then give some more before you even contemplate taking anything from anyone. 

One of the main areas I think a newcomer should focus on is in selling the lifestyle, not property.  You buy a drill because you need to make a hole, not because you want a drill.  You generally buy a house in Spain because you WANT the lifestyle that goes with it, not because you NEED a house in Spain.  This is where I see so many agents go wrong.  Lots of new property websites spring up every day but they are all the same, just a property search engine.  Boring!  Move on, be different.

Here’s an idea that I haven’t seen anyone use yet and I think would work really well (remember I’m not a salesman).  Many property websites have a feature where you can enter the type of property you’re after and then when a property fitting your criteria is added to their database you get sent an email with the property details.  Great, but rather boring really.

How about you get people to sign up for a “7 Days in Spain” series of emails.  You set up an autoresponder to email them a different email every day, from Monday to Sunday.  Each day is say a video or pictures with text of something to do on each day in the area showing the lifestyle in the area.  Beach on the Monday, eating at the Chiringuito on the Tuesday, water park on the Wednesday, visiting a pretty village on the Thursday, etc. 

These can then be tied in with the property alerts in the area too….

Don’t just give buyers details of properties, they are buying a lifestyle, give them information about the area.  Local events information, like when the next feria is on, what banks are in the area, which schools, etc, etc.  I could go on for ever on this….

What’s interesting is that in many of our forums people often link to agent websites (particularly new ones) which have loads of up to date information about their development and area.  These agents have gone the extra mile to offer much more than just lists of properties available.

I’m just thinking out of the box here but what I’m saying is that real estate in Spain isn’t dead, far from it, there are still huge opportunities for those who choose to think out of the usual box.  My prediction is that it’s probably the “new kids on the block” that will bring the fresh ideas here to get the Spanish property market buzzing again.

By the way, although I said we wouldn’t sell property ourselves that’s not to say that we don’t have plans to do something a bit different….watch this space.

Written by: Justin Aldridge

About the author:




Right arrow icon Send to friends   Right arrow icon Printer friendly version    Right arrow icon Submit your own article


Comments:

Lee said:
19 January 2014 @ 16:15

Hi there,
I know this is an older post but was just wondering if anyone knows of any real estate training courses here in Spain. I'm currently living in Barcelona.
Many thanks.



Tharsis.teddy@orange.fr said:
29 October 2010 @ 20:21

Bonjour à tous, et à vous JUSTIN.

pour vous faire une idée de moi je vous dresse un petit portrait de ma personne

38 ans marié une belle fille de 9 ans, je vie à bordeaux, je suis né en Guadeloupe
j'ai vécue prés de paris, ou pour la première fois une agence immobilière à embauchée un homme de couleur, en 1998 sa date, je suis un amoureux de l'immobilier pas uniquement pour ce que cela génère comme aisance financière, mais par passion pour l'aménagement intérieur, et surtout voir ce que de futur propriétaire arrive à faire d' un lieu à rénover, ou d'une construction sur plan lorsque ces future propriétaires ont vraiment les moyens.mais depuis des années je me trouve face à un dilemme, qui devient un mal français je crois, c'est que le professionnalisme de l'agent immobilier, reste une chose très peu sur et donc considérer comme un escroc. par contre dans les pays anglophone, il est bien définie comme une personne incontournable, pour mené à bien une transaction bravo la au moins, ils travaillent main dans la main avec leurs clients. le travaille est fait avec des engagement contrat exclusif, c'est une chose qui est de plus en plus compliquée à obtenir en france, ils veulent tous faire un travaille pour le quel ils non pas prient conscience des engagements et des connaissances des loi du marché, et de l'importance de leurs implications à vouloir vendre eux même leur bien, à des prix qui ne son pas le reflet du marché sectoriel ou encore, du climat économique du moment, ce qui fait malheureusement augmenté les prix, et malheureusement fait fuir les acheteurs.d'ou une folie du marché français, il suffie de regarder, dans d'autre paye voisin pour ce rendre compte, que le prix au mètre carré reste relativement correct, en rapport à la valeur réel du marché, de la qualité des biens à vendre, de leurs emplacement, des matériaux utilisés et chose hautement importante, ce qui fait la justification de la valeur, c'est la surface proposé, parce que sans surface pas de prix au mètre carré, ou squr m. et comme nos voisins espagnols offre de vrai espace et on une qualité de travail extraordinaire, je me demande comment faire pour crée un société d' 'investissement en Espagne, et comment cela peu ce faire et quelles sont les obligations par rapport , à leur législations.

si vous pouviez me donner quelques info ou une marche à suivre je vous en serai gréer. bien à vous et bonne réussite à tous. tchao



shar said:
25 July 2007 @ 23:00

Here here !!!

This is what I have been saying for ages but it is hard work!!

Shar



adylig said:
25 July 2007 @ 19:49

Hi Justin

We are buying a property in Tenerife with a view to spending considerable time there. We note that you do not seem to have any representation in Tenerife and do not mention it (or the Canaries)Is there some way we could co-operate and work together and perhaps set up eye on Tenerife??

Adrienne


Only registered users can comment on this article. Please Sign In or Register now.

Comment Using Facebook:




Related articles in this category

"Ever Thought of Retiring to Spain?", She Asked

10 Year New Build Property Insurance - Seguro Decenal

2007 – The Outlook for Spanish Property….

4 Ways To Help Your Kids Enjoy Their Spanish Holiday

A Quick Guide to Spain's Autonomous Communities

A Room With A View

Agent Property Sharing Systems Cost You Money

Aparthotels - Touristic Apartment Legal Requirements

Bank Guarantees for Spanish Off Plan Developments

Being a Film Set Extra in Alicante

Bored In Spain? Not The Spanish

Breach of Contract - Off Plan Success Story

Building Defects in New Properties

Bullfighting in Spain - On its Last Legs?

Buy Property Safely In Spain...NOT!

Buying a Property in Spain - 10 Points to Consider

Buying a Property in Spain - The Private Contract

Buying A Property in Spain Just Got Safer - And Much More Affordable!

Cave Houses in Spain - ADSL Included!

Completing a new property purchase

Consumer Law - Abusive Clauses In Your Contract

Costa Brava Holiday Ideas

Currency Exchange from Sterling to Euros

Deadly Secrets And Those Books About Spain

Decreto 218 - What It Is And How It Affects Buying Property In Andalucia

Deposit Contract

Dispelling The Myths Of What Is And Isn’t A Snagging Defect And Some Amusing Responses From Builders

DIY snagging - Some pointers on how to ‘Do-It-Yourself’

Do Not Move to Spain if…..

Documento Informativo Abreviado. Brief Informative Document (DIA)

Don't Blame Spain

Don't Criticise the Junta's Actions, Only the Delay in Implementing Them

Eco-Friendly Holidays

Financial And Currency Overview - 2012

Furnishing your Off-Plan

Getting Planning Permission in Spain

Getting The Best Euro Exchange Rate

Help! I'm Busy But Poor!

How to Choose an Architect in Spain

How To Spot The Timeshare Fraudsters

In Times Of Recession Some Imagination Is Needed - Option To Buy

Is Anyone Still Moving To Spain?

Is Disney Coming to Spain? That'll be No.

Is it Dangerous to Buy Property in Spain?

Is Spanish Residential Construction Showing Signs of Recovery?

Is There More To Spanish Wines Than Just Rioja?

It Is Possible Not To Pay Enough For A Property - According To The Tax Man!

It's a Buyer's Market

It's A Good Time To Start Selling Property in Spain

Licence of First Occupation and Completion

Mallorca Property - The Cost Of Buying Explained

More on Consumer Rights When Buying a Property

Most Commonly Asked Questions on Completions and Snagging Inspections

Must Have Common Spanish Phrases To Spice Up Your Spanish

New Regulations Protecting Spanish Property Buyers

No Money? No Problem!

Off Plan Consumer Rights - Sample Purchase Contract

Paramount Theme Park In Murcia - What You Need To Know

Prices Soften As Mortgage Approvals Fall In Lanzarote

Private Purchase Contract - Resale Property

Problems Found by Residential Surveyors in Spain

Property Management - Who Needs It?

Publicity - Part Of The Contract

Real Problems Buying Property in Spain

Result Of Building Standards Survey

Snagging Horror Stories

Snagging Trends & Analysis

So, you want to sell your off plan?

Spain Top Choice for Second Home Abroad

Spain, a Gone Conclusion

Spanish Property Market Stalls On Exchange Rate Strength

Spanish Property Valuations - Confused?

Stimulating The Spanish Property Market – Please Take Note Mr. Zapatero

Taking Better Pictures of Your Property

Taking The Developer To Court - Jan's Story

The art of a successful Snag

The Beginner's Guide to Snagging

The Death Of The Spanish Estate Agent

The Do's And Don'ts Of Buying A Mobile Home In Spain

The Euro - Looking Back and Looking Forward

The Licensing Process For Off Plan Properties In Spain

The Mystery of Spanish Property Online

The Other Side of the Coin

The Right Groups’ – The Costs of Buying in Spain

The Rights Group’s Guide to Buying a Property in Spain

The Spanish Property Crash – Was This What Was Really Happening?

Time to Complete

Time to Complete? - Part 2

Top 10 Reasons To Buy In Spain

Top 3 Budget Restaurants In Central Madrid

Try Before You Buy

Try Before You Buy - A Change In The Property Market

What to do Before and After You Complete on Your New Property

What You Need To Do If Your Spanish Developer Goes Bust?

What's In Store For Spanish Property In 2011?

Where Are All The Property Bargains In Spain?

Who Is REALLY Looking After Your Interest In Spain?

Why Buy On A Golf Resort?

Why Buy Property On A Resort

Why Choose Interest Only For Your Spanish Mortgage

Why You Need a Website To Market Your Rental Property

Click here for a list of all the articles from our magazine 

Spain insurance services


This site uses cookies. By continuing to browse you are agreeing to our use of cookies. More information here. x