The process of selling a property is something that may seem simple to us; we might think that it is enough to publish an ad on the internet and that will be sufficient to put our property on the market and successfully close the transaction.
However, at Gumper, our experience teaches us that in most cases it is advisable to have a professional who can advise us when putting our property up for sale, as something that appears simple can quickly turn into a delicate matter that can lead to unnecessary costs. The advisor can drastically change the reality of how the property is sold and its price. The property must be positioned as the most desired on the market.
What is a real estate exclusivity contract?
The real estate exclusivity contract is the agreement we formalize as a real estate agency, which establishes that the owner of the property grants the agency the rights to sell the property for a specified period.
When we are in the process of selling a property, one of the first things we must be clear about is how we want to carry out its marketing. A real estate agency is a powerful ally for its marketing, as most agencies have their own client portfolio.
For example, on many occasions, we may find that the property fits the characteristics of a property sought by one of our clients who are waiting to buy, so from the very first moment, the product is “hot” for users.
When working with an exclusive property, we must avoid the image of a system that limits opportunities; instead, we must understand that the real estate agency will try by all means to prioritize its marketing.
At Gumper, we work with the multi-exclusivity contract because we believe it is not good to tie ourselves to a single professional. The success of our sales method is based on sharing the properties for sale with a real estate group of more than 300 agencies.
Therefore, the following will be achieved:
- More real estate agencies will offer the property.
- Greater dissemination of the property sale.
- More potential buyers.
- Faster selling time and at the highest price.
What advantages does signing a real estate multi-exclusivity contract have?
As we mentioned earlier, real estate exclusivity contracts offer extensive advantages for the marketing of properties.
- Defense and advice: When we start the process of buying and selling a property, we may encounter the first key question of the process, which is, what price should I set for my property? This question is one of the first we will ask ourselves as sellers, and this is where the advice from our real estate agency comes into play. When we want to set the value of a property, we can be influenced by the current economic situation or the memories associated with the property, and these, along with other variables, can lead us to make a poor decision regarding the sale. Therefore, the first thing the agency will do is suggest a selling price, taking into account the property, its condition, location, and average price in the area. Additionally, during the negotiation process, they will always look out for the seller’s interests to maximize the benefits obtained in the transaction.
- More product than buyers: Although it may seem obvious, it is not easy to make our property stand out from the rest automatically. That is why consulting a professional who knows how to enhance our property is always a guarantee that this property will receive the necessary attention. Moreover, there is something really important: to make a sale, many visits must be conducted, so when a property is received exclusively, the work done by the agency must be thorough and quick to avoid wasting time on the sale. Remember, the exclusive contract is for a limited time.
- Tools and experience: Here lies one of the most valuable added services we can find when granting the property in real estate multiexclusivity. The marketing knowledge we have as real estate professionals will allow us to establish a successful strategy for the commercialization of the property.
In addition to industry experience and a database of potential clients, marketing actions on the property are carried out that are absolutely impactful on the sale’s outcome.
- A single point of contact: If the sale is conducted with multiple agencies and even open to individuals, one must attend to different interlocutors, which ends up creating a really annoying situation of having to constantly pay attention to the different actions on each front, the schedules of visits, the availability of keys, the status of each negotiation… Having a single point of contact will avoid several things: first, having many fronts that require control, and also a unity of opinion; in many cases, having contradictory information can lead you to make poor decisions.
- The keys: One of the common headaches for the seller is being able to leave the keys for visits; if you do not have an exclusive real estate agency, you will have to make a difficult balance to fit visits with keys, and it may require a time commitment that you, as the property owner, may not have.
- Fees: The agency fees should not be a conflict. Each agency estimates its fees in a certain way, so an open dialogue will resolve any possible discrepancies. When it comes to selling, there are different needs; that’s why at Gumper we offer three service plans.
In the current real estate sector, real estate exclusivity should not be understood as a limitation, but as a positioning strategy for the property within the market. When a property owner asks “Can I sell my apartment if I have exclusivity?”, the technical answer is yes, but always within the conditions agreed upon in the contract signed with the agency.
This type of agreement, especially in multi-exclusivity real estate models, allows several agencies to collaborate in a coordinated manner to increase the visibility of the asset, improve its exposure on portals, and accelerate the sale without losing control or legal security for the owner.
It is important to differentiate between closed exclusivity and professional collaboration: in a well-structured system, exclusivity does not block the sale of the apartment, but rather organizes it, professionalizes it, and avoids duplicities that can harm the perception of the property in the market.
Are you afraid to put your property up for sale in multi-exclusivity?
This is a common situation, as normally a person usually makes a couple of large property transactions throughout their life, and that lack of knowledge and feeling of vulnerability makes us have a fearful view of granting exclusivity to a real estate agency.
You should know that real estate agencies are used to working constantly with this type of product and that it also responds to a specific period of time that limits the multi-exclusivity contract, so as a seller, you have nothing to lose and much to gain.
What do I need to know before putting my property up for sale?
The first thing we need to know before putting our property up for sale is whether there are any pending charges on it, whether it be a mortgage, an unpaid tax, or some debt with the community.
This diagnosis, which may seem very obvious, can save you from unpleasant surprises, as if there is any situation that you do not have under control once the sales process has started, it may become more complicated to resolve.
At the time of selling the property, you must provide:
- National Identity Document, valid Passport, or valid Residence Card.
- Original deed of the property.
- Receipt of the Property Tax (Contribution) for the current year.
- Community of owners current payment status
- Last paid receipt for each of the property’s services
- Valid occupancy certificate.
- Energy Efficiency Certificate of the property
- Possible existing charges on the property
- Mortgage. If the mortgage is not paid off, you must provide the Certificate of Outstanding Capital.
- Usufruct: In the event that the usufructuary has passed away, provide the death certificate.
- Other charges: The documentation to be provided will depend on the charge presented by the property.
- Plusvalía from the municipality.
- Keys to the property. (empty homes)
- Technical inspection certificate of buildings.
- Warranties (in cases where the property is less than 10 years old)
We can assist you throughout the entire process. We analyze the documentation, and all of it is verified by our legal and management department, to inform you about any limitations that may exist, as well as how to eliminate them.
As you can see, there is a lot of diverse documentation that you must manage to carry out the sale of the property. Therefore, it is recommended to carry out the procedures accompanied by a professional who can advise and guide you in each situation, so you can avoid problems when trying to successfully complete your real estate sale operation.
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