Selling a home is not always easy. Sometimes the real estate market is saturated, we do not have tools and resources to expedite the sale or we cannot make our offer attractive to potential buyers.
The factors that come into play in the speed or slowness with which an apartment is sold are many. The most important are where the property is located, what is the demand for homes in the area or what is the condition of the home.
How long does it take to sell a house?
Currently, in our country, it takes between 12 and 18 months to sell a home. In large cities (those with more than one million inhabitants), this period is considerably shortened; specifically, up to six months.
This happens 84% of the time. In 10% of cases, the sale can be delayed up to two years and in 6%, more than two years. Transaction delays occur for various reasons. The most common are:
- The price of the house is very high and does not match the market.
- The house is not in good condition or requires immediate renovations.
- The area where the property is located has low sales demand.
- The owner is inflexible when negotiating the terms of the sale.
Where is it easier to sell a house?
Madrid, Seville or Zaragoza are some of the cities where it is easier to sell a home. In the capital, the average time to sell a house or an apartment in 2018 was 2.4 months in neighborhoods such as Salamanca, Moratalaz and the downtown area. Zaragoza with 4.7 months, Barcelona with 4.8. Seville with 5.8 and Valencia with 6.9 are other Spanish cities in which the time it takes to sell a house is minimal if we compare it with the average for the country.
On the other hand, in provinces such as Cantabria, Orense, Segovia or Salamanca, the time to sell a house can triple. The average is between 14 and 16 months.
What factors can speed up or delay a home sale?
Before selling a home you should ask yourself some questions. The most important ones are:
- How much money, effort and time are you willing to invest in the operation.
- How long do you have to sell your house?
- What is the minimum price you expect to sell for?
- What benefit do you want to obtain for the floor?
- If you are willing to delegate the sale to a professional external company, such as a real estate company.
Once you have answered these questions, you should assess the following factors that determine how long a house sells for:
Selling a house involves organization. Ideally, spend several months planning the sale. In this time you can take the opportunity to study the market situation in the area, assess possible reforms that add value to the house, gather all the documentation related to the property, carry out a professional appraisal to offer a more competitive price or take quality photographs of the rooms and their facilities.
If we are not urgent to sell, planning is key for the operation to be a success.
The time of year
Generally speaking, the real estate market has more movement during the first six months of the year. This means that in this period it is easier to find a buyer, being March, February, June, April and May the months in which more house sales are registered.
Knowing the best time to put it up for sale can be decisive in determining how long a house sells for.
As we have already mentioned, the location of the house is key to expediting its sale. The demand for housing varies greatly depending on the provinces, cities, and neighborhoods/areas. It also depends on whether it is close to supermarkets, schools, metro and bus stations, parks, etc.
A good advertisement should not only attract many buyers: the important thing is that they are “real”, that is, that they have the interest and the creditworthiness to negotiate the transaction.
Negotiation is another fundamental aspect in defining how long it takes to sell a house. If you are clear about your maximum and minimum profit margin, it will be easier to close the operation successfully. Although you should always weigh all the pros and cons before making the sale, having an established margin will help you speed up the negotiation.
Legal procedures and associated expenses
Before closing the sale of your house, you must carry out several bureaucratic and legal procedures that, sometimes, entail a series of expenses associated with the sale of the property and can delay it. If you are clear from the beginning what these procedures are, you will be able to advise you to start them with enough time.
How to improve the time to sell a house
So that selling our house does not become a long process that makes us lose patience, we must inform ourselves about the sale deadlines in our area. In this way, we will know if our offer is correct or if we should modify it. It is also convenient that we analyze the actions that will allow us to accelerate the sale. These actions are, among others, adjusting the price of the property with respect to the market, being more flexible to negotiate or making reforms to revalue the property.
In any case, our professional advice is to always be advised by an expert or by a company with experience in the sector capable of giving you the keys to a faster and more profitable sale. The advantages of hiring a real estate agency like ours to reduce how long a house sells for are:
- We are committed to you. If you hire a real estate company like displace, you will establish a win-win contract with us: we only charge when your apartment is sold and with a fixed price, so both parties benefit. Our commitment to you is guaranteed.
- T e have our own customer base. Selling an apartment with a real estate agent is always faster than doing it between individuals. The reason? Those who want to buy a home consult specialized real estate portals because there are more offers. If your house appears on this type of website, it will have more visibility and your options for sale will increase exponentially.
- We are experts in advertising and sales techniques. Agencies and real estate have a clear and defined sales and marketing strategy. Hiring their services is the best way to benefit from it.
- We centralize the buying and selling process. Real estate agencies not only advise you on how to expedite the sale of your house. They also help you with all the paperwork related to the process. In this way, you will save time and have the guarantee that everything is done legally.
Deplace, the smartest way to sell your home
Are you looking for a real estate agency to sell your house quickly? At nova city, we offer you the best personalized service by managing to advertise and contacting people interested in buying your home. We do not ask for exclusivity or commissions: we take care of providing information about your house to potential buyers and scheduling visits, but you will be the one who shows the house, offering a close and direct treatment. And if you reach an agreement, we will manage the negotiation and the sale documents.
Deplane is your trusted online real estate agency. Get in touch with us!