Do you really need an estate agent to sell your Costa del Sol property? The honest answer is no. This article looks at what an estate agent actually does, what you can do yourself, and how to decide which approach is right for you.
Use an agent or do it yourself?
The honest answer to the question, "Do I need an estate agent to sell my Costa del Sol property?" is a simple no. You don't need an estate agent to sell your property. People sell privately every year, and if you're prepared to put in the time and effort, there's no reason why you couldn't do the same.
A more pertinent question is not so much whether you can sell your own property, but whether you really want to.
Let's look at the situation where you decide to sell it yourself. The first job is preparing the property for the market. You'll need good photographs, an accurate description and an asking price that reflects the current market. You will then need to advertise wherever you can so that potential buyers can find it. On the Costa del Sol, that means remembering that your buyers may come from many different countries and speak many different languages.
Once the property has been advertised, the enquiries should begin. Some will be genuine, and others won't. Some people just want more information. Others will ask questions that you've already answered in the description. Some may criticise the property or tell you why they think it's worth less than your asking price. You'll almost certainly hear from estate agents as well, all convinced that they're the best people to sell your property.
The enquiries won't always arrive when it's convenient. They come by telephone, WhatsApp and email, often outside normal working hours, and if you're selling privately, every one of those enquiries becomes your responsibility.
Hopefully, the enquiries will be followed by viewings. Some buyers arrive exactly when they say they will. Others are delayed by traffic or change their plans altogether. Occasionally, people view a property that was never going to suit them in the first place, despite the description making it perfectly clear what they were coming to see. This is simply part of the process of selling property.
Hopefully, one of those viewings will produce a buyer who decides they would like to buy it. In most cases, they will make an offer. Now, this is the part that many sellers underestimate: the process of negotiation.
Negotiation is where it becomes important to separate your emotions from the transaction. Most buyers will try to establish how flexible you are on price. Some will genuinely believe the property is worth less than you're asking, and others will simply be testing to see how far you're prepared to go.
I have often thought that negotiating a property sale has a lot in common with a game of poker. The less the other person knows about your position, the stronger your hand usually is.
Once you've agreed a price, the legal process begins. Whether or not you have used an estate agent, I would always recommend using an independent lawyer. There will be documents to provide, enquiries to answer and legal checks to complete before the sale can proceed to the notary.
None of this is particularly complicated. It simply takes time, organisation and patience.
So, in answer to the question, "Do you need an estate agent?", the answer is no. But it is worth remembering that when you choose to sell privately, every one of these jobs becomes yours.
An estate agent will usually:
- Prepare the marketing
- Deal with enquiries
- Qualify buyers
- Arrange viewing appointments
- Handle the inevitable cancellations and delays
- Negotiate offers
- Liaise with the lawyers
- Help keep the transaction moving towards completion
In my opinion, the negotiation stage is often where a good estate agent earns their fee. Because they are not emotionally involved in the transaction, they are able to remain objective. They know when to push, when to pause and when to hold firm. Quite often, the difference between an average negotiation and a good one is greater than the fee itself.
Of course, some owners will genuinely enjoy handling every part of the process themselves. They're organised, they have the time available and they're comfortable negotiating directly with buyers. If that sounds like you, selling privately may suit you perfectly.
For many, however, selling a property is something they'll only do a handful of times in their lives. They would rather spend their evenings with their family than answering enquiries, rearranging appointments or wondering how best to respond to the latest offer.
As with most things in life, neither approach is right nor wrong. The important thing is understanding what's involved before you make your decision.
If you are thinking of selling your Costa del Sol property and would simply like to talk through your options, we're always happy to have an informal conversation with no pressure and no obligation. Call us on (0034) 952 90 52 00, WhatsApp us or email info@michael-moon.com.
More Thoughts & Insights for Property Sellers
If you're thinking about selling your Costa del Sol property, you may also find some of our other articles useful. Together they explore many of the questions that owners ask before putting their property on the market or while trying to achieve a successful sale.
