To help your clients make an informed final purchasing decision in a foreign country, you need access to local, on the-ground-knowledge. They’ll only sign if they feel confident in their purchase and trust your incisive expertise. Many buyers falsely assume investing in property abroad is the same as buying local. However, Spain, like any other country comes with unique buying costs, ownership expenses, legal issues and challenges that can be a minefield without adequate knowledge.
Bringing on board a trusted professional is a prerequisite if you’re going to sell the covetable foreign real estate. They can help you sell the Spanish lifestyle, showcase prime property and attend to your clients’ needs. Real estate agents in Spain have an extensive network at their disposal and direct access to industry knowledge that’s difficult to procure as an outsider.
Partnering up with real estate agents in Spain allows you to take advantage of the emergent real estate opportunities available without having to stress about suddenly amassing the know-how yourself. Here are the key areas of knowledge the right partner should assist you with:
Access to Additional Properties
Real estate agents in Spain will be familiar with the nuance of the Spanish market that you can’t discern from a phone call, two-week business trip or online search. An agent with a successful track record will have a large selection of high-quality properties appealing to a diverse market of buyers. The point of expanding your property portfolio is to increase your client base and attract more leads. However, this will only happen if the properties you have are competitive and worthwhile investments so make sure your potential partner’s property portfolio is substantial.
How do you know if your clients are receiving the best deal? A local partner can provide you with quantitative and qualitative information for in-depth market analysis. Real estate agents in Spain are privy to the cyclic behaviour of the market and will clarify any concerns you and your clients might have when it comes to assessing the long-term growth of their investment. You can always ask potential candidates for market reports to assess how thorough their information is.
Marketing a foreign location requires intense research. You’ll need to spend time there, in and out of season, as well as do homework on local amenities, general accessibility and any future developments that could affect the character of the neighbourhood or value of the property. A reliable Spanish agent, who lives and conducts business in the area will have inside information that’s probably not shared openly with outsiders or lone buyers in case they’re deterred from purchasing. This makes it easy to avoid dodgy property developments and ensure your clients are receiving value for their money.
Legal and Tax Assistance
Inevitably your clients will have questions around the Spanish tax system and property laws that you’ll find difficult to answer off-hand. Spanish real estate agents will be able to advise with confidence on how your clients’ ROI could be affected by local taxes relating to rental profit and capital gains, or if the property becomes part of a deceased estate.
You want to inspire trust and confidence in your clients and having a local partner illustrates you’re taking care of their needs and avoiding loopholes because you have expert assistance. It’s important to find out how they deal with legalities and who they consult in their network. You don’t want to lose clients due to minor technicalities so make sure they’re above board when it comes to tax and the law.
Any agent who you choose to work with should be readily available, trustworthy and have a strong property portfolio. Make sure their properties are aligned with your clients’ requirements, and their testimonials are positive. Besides having trustworthy credentials, you also need to determine what your working chemistry is like. You won’t get any work done with someone, who is excellent at their job, but who you don’t see eye to eye with.
While your foreign property partner can impart valuable knowledge about the foreign market, it's still up to you to devise creative marketing strategies that appeal to potential clients and attract increased leads. For useful marketing tips, you can download our ebook, How to Market the Spanish Properties in Your Portfolio and learn how to package your foreign property in the most desirable way. If you’re planning to focus your Spanish property portfolio on Spain’s pristine coastline, then take a look at our property for sale in Calpe. We have prime real estate options surrounded by breath-taking landscapes suitable for every type of client.