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Home Buyers Haggle Down Prices by 21%

24/07/2014 – El Economista & El Confidencial

Discounts demanded by property purchasers in June averaged at 21%, according to portal idealista.com.

The figure is by two percentaige points lower than the December 2013 datum posting 23%.

Sellers trading their properties through the website have received 20.000 bids during the last month.

By provinces, the biggest discrepancy between the asking price and the buyers´expectations was found in Girona (-26%), Badajoz (-25.5%), Lleida (-25.2%), Tarragona (-24%) and La Rioja (-23.6%).

On the other hand, bargaining turned out to be less effective in Zamora (-15.2%), followed by equally tough sellers in Palencia and Soria (-16.6%in both) and in Albacete (-17%).

Descending to the city level, Bilbao purchasers asked for the biggest discounts (-23.2% price slash), only a little bit less in Zaragoza (-23%), Seville (-22.2%), Valladolid and Valencia (-21.8% in both). Barcelona (-20.6%) and Madrid (-20.1%) rank further in the list which is closed by Caceres (-11.8%) and Jaen (-10.4%).

Idealista.com gives several advices to sellers who would fancy avoid cuts in their property´s asking price without losing the visiting rates:

1. Setting the price higher than your neigbhors to have some negotiation margin will only result in their selling the homes faster.

2. Respond calls and messages rapidly.

3. Be flexible when it comes to your apartment´s visiting hours and make sure you will be at home at that time to show it.

4. Take an advantage from current popularity of renting. Maybe it´s time to change the strategy and put the house up for rent and enjoy increasing returns.

5. Weight each offer up. Setting an eye-catching price and being ready to negotiate are the key elements of a successful sale.

 

Original article: El Economista, El Confidencial (by E. S.)

Translation: AURA REE