Selling any real estate property involves several processes and may be arduous, especially when you cannot seem to find anyone willing to pay for your asking price.
However, marketing and selling one’s house is much easier today, thanks to different social media platforms and other ways of communicating online. But other than knowing which social media networks to use, there are several other factors to consider in order to ensure the fast and smooth sale of your holiday home. We rounded up three things you should know if you are selling your holiday home in Europe.
1. Contact real estate agencies or property buying companies
Selling your holiday home, especially the ones that you don’t often get to use, means additional financial freedom for you. Contacting real estate agencies is most beneficial to owners living outside the country where their holiday homes are located. In a lot of countries like the UK, there are no legal restrictions that prohibit property owners from disposing of their properties even if they are not currently residing in the UK. If you are currently residing in a different country, the first few things to consider are consulting a reliable financial or investment advisor and choosing between a real estate agent or home buying company.
Depending on where you are, flying back each time an issue or legal impediment arises is not practical for sure. While both real estate agents and property-buying companies can handle all the necessary paperwork, there are differences you need to know. Real estate agents cannot promise a fast sale but if they find an ideal buyer, you might get a bigger profit. Meanwhile, property buying companies would be your best option if you want an instant sale since they offer competitive prices and will pay for your home as-is.
2. Choose the currency with less risk
Currencies are almost always volatile. With concerns over politics or economy, you need to put a lot of thought into choosing between Pounds or Euros (or even US Dollars) when selling your holiday home in Europe. As a case in point, because of Brexit, property prices may move anywhere between 2% to 5% in a single week. Coupled with the changing bank interest rates, selling your holiday home in Europe may not be as appealing to potential buyers who are on a strict budget.
Taking into account these uncertainties and the financial impact of sustainability it might cause you in the long run, it’s crucial to set up a meeting with your account manager (real estate agent or property buying company) to discuss possible currency strategies. Prioritize finding a strategy that will translate to the most profitable option for you as a seller and the most attractive option for your buyer.
3. Use high-quality photos or videos
Posting on advertising websites or sharing your holiday home’s photos and videos on social media networks gives you a better chance of selling your property faster and with a bigger profit margin.
Put as many photos as you can and write as much information as you are willing to share to aid buyers in deciding whether your holiday home is going to be theirs in the coming holiday. And while we cannot underestimate the power of social media, this is to be used with caution. When sharing pictures of your property, make sure that they are clear, accurate, and up to date.
But once you receive negative feedback on social media, it might spread like wildfire and put off other potential buyers. At all costs, you’ll want to avoid the risk of writing an apology email or being tagged as a scammer with photos that don’t look anything like your holiday home. Investing in high-quality photos or videos can save you from a lot of trouble and may even help you get more from the sale.
Though selling your property is not an easy feat, the good news is that it is doable! Buyers have a lot of holiday homes in Europe to choose from. They have different budgets and expectations, but you’ll certainly find a buyer for your home if you follow these tips.
Enlist the help of real estate agents or property buying companies so you can forego the headache that paperwork brings. Carefully choose the currency you will use, especially if return of investment is your major concern, and you’ll get a handsome profit. Use high-quality photos and videos in order to earn trust and positive feedback from potential buyers. Last but not least, if you need more help, you can talk to the European real estate experts at Europe Properties. They can help you advertise your sale or even find you an agent.