Elena H. Ghazale
La Boutique SalesManager & Coach

• SIGNING AN EXCLUSIVE AGREEMENT YES OR NO - LA BOUTIQUE •

Dear reader, this is possibly one of the questions that causes the most uncertainty in the real estate industry.

In this blog I will try to clear up any doubts you may have. For many, it is a question related to the ideals of the seller. For me, without any doubt, it is a question that only concerns your property and its target audience. 

In other words, selling exclusively depends on your house and not on you. Nor does it depend on the real estate agency or their personal agenda. 

For me, selling a €100,000 flat is not the same as selling a €500,000 house. 

Or maybe Luis Vuitton uses the same sales techniques as Zara?

There are a number of statistics that tell us about the number of people who can buy your home and that's exactly what I'm going to base my blog on today.

That is to say, if there are many people with the capacity to buy my house, it is logical that the showroom should be bigger, as I need my house to be seen from different places to reach all my audience. But if my niche is small, as it is the luxury market, my showroom has to be aligned with my public and that means that exclusivity will play in my favour. 

A house that is "prostituted" is an unappetizing house for an exclusive buyer. In fact, most buyers of more than half a million usually entrust the search for their home to their trusted boutique real estate agency. They don't go to many real estate agency because they don't have the time or the inclination to deal with so many people. And precisely because of this, the smart thing to do in that case would be to work on an exclusive basis. 

• BENEFITS OF WORKING EXCLUSIVELY •

1.You only deal with one person to manage your property.

2.The image, texts and advertising are unified and transmitted in a more elegant and forceful way. Without creating doubts or ambivalence in the buyer's mind.

3.The contracted agency will invest much more time and money to achieve the desired objective and create a better result.

• NATURAL DOUBTS REGARDING EXCLUSIVITY •

1. If I sign an exclusive agreement does it mean that only one real estate agency can sell my house? No, what it means is that one real estate agency is responsible for the sale of your home. The agency can share the sale with other real estate agencies that considers suitable for it, sharing the images, the text and all the marketing materials created to reach the goal.

2. If I sign an exclusive agreement and another real estate agency sells my house, do I have to pay them both? No, it will be the estate agency with whom the agreement has been signed who will be responsible for sharing the fees with the other collaborating agency.

3. If I sign an exclusive agreement, for how long do I have to commit? It is usual to sign for one year, but the length of time is always negotiable. The minimum I always recommend is 6 months in order to have enough time to make adjustments and create different strategies for the sale.

4. Does selling exclusively mean selling at a higher price? No, buyers are not stupid and we should not treat them as if they were. The right thing to do is to sell at the right price. The valuation of your property will depend on many factors, among them, the reference value given by the notary, the region in which it is located, the construction materials used and the finishing materials, the current state of your property, the real demand in the area, other properties that are for sale and compete directly with yours, the situation of the real estate market, the Euribor and many other aspects that professionals have to take into account before giving you a fair valuation.

This month La Boutique has been awarded the prize for Best Luxury Real Estate Agency in the Canary Islands. Quite something! I am thrilled to be part of this team and I believe that good work pays off in the end. 

If you are interested in selling your home and don't know where to start, come and see us, we will be delighted to help you succeed and achieve your goals. 

With much love, Elena