Expert: Jessica Bryan - 3/2/2005

Question
Hello,
I am not looking at selling a property in the USA but in Menorca, Spain

My husband and I are thinking of putting our property up for sale and would like to know some of your real estate techniques, hint and tips on selling a property.

It is beautifly restored old country house. 280 sq m. on 4000 sq m. of land. It also has an old barn at the end of the garden which we are not sure wether or not to restore and turn into another living area or just do it up to make it look livable. Money is now very tight after doing up the main house.

Please tell me all you know - I am dying to learn
Thank you
Caroline

Answer
Dear Caroline;
Telling you all I know about this would take volumes! There are many good books on selling your home and what and how to prepare.  Visit the library or look in a bookstore for the books relating to this topic. I can suggest some things, but the best thing I can suggest is to contact an agent in the area who knows that market.  The agent will help you not only prepare the home but advise you on what must be done to earn maximum profit.  Most good agents are reluctant to deal with properties or areas in which they are unfamiliar since it is a tremendous diservice to the client so choose someone very local.

I can tell you that as a rule of thumb the best thing to do to market a home is to present it as a clean, well maintained home.  Have it inspected for structural defects and fix anything that is a potential deal-breaker. Fresh paint and clean surroundings are very important.  Well manicured gardens, flowers, and shrubs help as well.  Clean and new or sparkling kitchen and bathroom fixtures are a must.  Okay...that is for starters.  Knowing what the competition looks like and what they are charging for the same size is also important.  Lead the competition and offer more value.  This is very important for a quick sale.  Offering an incentive is always good, so try  to pay some of the closing costs, a bonus to the selling agent, or maybe offer a free trip with purchase. I understand that money is tight so do the things that make the home appear cosmetically great and forego any major rennovation.
Good luck;
Jessica Bryan