How to sell Costa Rica real estate in a bad market

August 20 2010 - Many properties are selling well in the Costa Rica real estate market even though we are in a slowdown. This slowdown is worldwide and will continue for a couple of years, so those needing to sell, may panic and think they need to make drastic cuts in their asking price. If a property has been on the market for some time and has not sold most of the time the problem is not price. The two biggest challenges are proper marketing and presentation.

The Costa Rica real estate market is undermined by the owner's pervasive thinking that listing with as many realtors as possible and trying to sell one's own property is the correct approach. This is a formula for disaster that leaves some good properties on the market for literally years. Owners who want their property to sell in a reasonable time know the value in giving an exclusive listing of the property to a single agency. Companies are not going to make a significant investment in marketing a non-exclusive listing. Realtors save their advertising budgets for the exclusive listings where the return is guaranteed and these are the listings that sell. Yes there are dozens of commissionaires, who work part time and from their home who will want to list your property and If and when they sell something it is usually an accident.

List your property with a company that's website is properly optimized and will show up on the first to third page on google using the search term Costa Rica real estate. Less than 10% of shoppers go past the third or fourth page of websites. Be sure that your Realtor will share your listing with the other reputable companies in the area. This takes care of having to list with several companies and gives their agents confidence that the listing agency has helped the seller properly price and prepare the listing. No agent wants to spend time showing property that is unrealistic priced or presents poorly.

Your exclusive listing agent not only does not want to waste his time and money. He will give you a breakdown on what similar property has sold, for so you can list at a price of no more than 10% over the lowest price you would accept Overpricing will led a potential buyer to another property and you won'tt get a second chance.

The next important item is presentation. Buyers want to visualize a home as if it were already theirs. This means all or the family photos that make you feel at home makes a potential buyer feel the opposite. So remove and store all that clutters create a spacious environment even though it may require renting storage.

Get your home in pristine condition. Buyers are choosing what the best is for their money and they don't want to spend a lot after they move in. If you are wondering about doing something... Do it!! Start a relationship with your Realtor and ask them to be completely honest with you. Start at the front of the house and go from front yard to the backyard

Now you are ready to have your agent take good photos and video that can be uploaded to sites like YouTube Not only will this expose your home to more buyers it will eliminate 90% of the traffic to show your listing

If you are one of today's sellers who have an assumable mortgage or can carry a mortgage on their property will you find more buyers faster. With substantial down payments and the property as security you are provided with a risk free return of possibly four to five times more than bank certificates.

 

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