We went on a listing frenzy last week as, while researching the articles about what your money buys you at various price points, I realised that we didn't have much on the shelves at various price points. A missive was sent out to the team, "we need to get more listings on the site". However, as we have mentioned many times before on this page, we don't list everything.
In fact I wrote about the reasons why on our substack recently and as I am moving away from publications elsewhere and wanting to concentrate much more on our homeground, here on the blog, I thought it was time to bring over something from there to here to give the explanation of what is happening.
Our Substack Article
Over on substack I described refusing to list properties as a revolutionary act. Have a read why.
"I’ve just turned down the “opportunity” to list a property on the website. In my (not so humble) opinion it was a pile of sh*te at a ridiculous price and whoever advised the owner to put it at that price then failed to sell it so that the owner now wants a new agent should be first up against the wall when the revolution comes (Wolfie Smith anyone? Oh yeah, Freedom for Tooting!)
This is not an isolated incident recently though.
Just this week I was offered two properties through agents we know and very politely (Unusually for me) turned them down saying “Yeah, it’s not really our style of property” and “it’s a bit out of our area”.
I’ll translate.
“THEY WANT HOW MUCH!!!”
Quality Control
Quality control is at the forefront of what we do in terms of value for money, comparisons with the rest of the available properties out there and the potential a property may have for future renovations. We don’t just list everything we get offered and never will.
At the same time, last week I went to see a client from 22 years ago who now wants to sell as they will be moving to a smaller place in a town so as to be closer to facilities now they are at the point of not being able to drive anymore. They asked for a valuation so I visited and gave them it. You can now see the result on the website.
Equally, on Tuesday we visited a place we sold back in the day in the city which the clients then renovated and have rented out for ten years to students. We have given them the price we think it should be sold at and very soon that will be on the site too (But not until the end of the University term)
It’s not rocket science.
In order to sell a property it must be competitive in the market, well located, well looked after, possibly with potential for modernisation, have great views, be near to amenities etc… Not all of the aforementioned things of course, because no property will have everything, but a good selection. Properties have to have “something” in order to stand out and if they don’t have “anything” then it’s the price which counts and price alone.
"Things don’t sell just because they are for sale and not everything for sale should be on the market because really they are out of the market".
Somebody has told the owner of the first place I mentioned above a really ridiculous price to get the listing or has listened to the owner telling them what they wanted for the property and hasn’t had the guts to say no. That they cannot then sell it is no real surprise. Overpriced rubbish doesn’t sell however short supply is. Buyers will wait and rightly so.
Some agents are desperate and will list anything. Other agencies see getting the listing as a business opportunity and will publish anything at any price to get any property for two reasons. One, their real business is talking the owner down for six months before selling at a more reasonable price and two, that ridiculously overpriced place is used as the comparison to make their other properties seem much more reasonably priced. Sometimes these places get more visits than the good stuff in order to set the prices in the mind of the buyer. (Yes, estate agents can be shady. Who knew?)
We won’t do it. Because… ethics or something like that.
When you see a property for sale on Valencia Property you know that it has something. We don’t just list anything. You may look at things and think, “That’s expensive”. Sometimes we do too to be honest and that is because of how we are all looking at things. Our clients from other countries often see things as cheap because their comparison is their own country or area that is hugely expensive from our viewpoint.
We, on the other hand, are comparing properties with what prices were in the past even if that past was just six months ago, which properties are actually selling and at what price it’s happening, right here, right now. Usually though, like in the case of the one I visited this week that I sold 22 years ago, prices then and prices now bear little relation.
The only true comparison is with the prices now, the comparatives on sale of what is actually selling and what people are paying, not just what is up for sale because many of them have that situation where the owner is asking for the Earth and the agent has said “OK, we’ll give it a try”.
In the last quarter again we had a new record of sales volume. It’s because we don’t just list anything. We go out there and try to find value for money and great properties. Our clients appreciate that. If you want to join them then contact us. Head on over to our website and take a look at what is currently available. And if you have something for sale then contact us, we may well have the perfect buyer for you.
Meanwhile we’ll just continue to be horrified at what we get offered and how much it costs and be extremely polite in our replies rejecting stuff.
What Have We Listed In The Last Week?
Just click on the images below to find out more.
Huge Apartment in La Pobla 200k
New Build Village Home in Pedralba 260K
Reach for Ruzafa at 399K
Splendid Isolation in Betera 380K
Third Level Townhouse in Moncada 550K
Gran Via Scene at 750K
Classic High Ceilinged Apartment 490K
Central Valencia Penthouse 495K
(Already has an offer on it as I am writing this)
Stepping Stone Rentals Property of the Week
Lorcas Light
A home where sunlight lingers like a verse left open. Welcome to Lorca’s Light, where—as the poet whispered—“Todo espacio quiere ser habitado.” Every space longs to be lived in, and, who knows, quizá “cada habitación tiene su alma.” And just as Lorca wrote, “En cada rincón se esconden pequeñas historias”- in every corner, small stories hide, waiting for their next voice.
Let your stories unravel in this spacious flat that sleeps up to 5 people, with a hidden Murphy Bed for extra guests! The single bedroom pulls out, providing the room with two comfortable singles perfect for kids! Three split A/C units, two full bathrooms, and the rare gift of a 5th-floor with a lift. Step outside and you’re moments from the Turia park or the heart of the city. Set within a working-class neighborhood, daily essentials, cafés, and local life wait right at your doorstep.
This apartment does accept well behaved pets, that are used to apartment living!
Recap Time
Now take a look below at what we have published in the last few weeks too.
It has been a busy time for us.
You can see our article about the selling costs of Spanish property including our tax calculator here.
And equally we have a buying costs calculator on this post.
And here’s a little video about selling costs.
And another about buying costs
There's plenty more so make sure to bookmark this page and come back regularly. You won't find a better or more comprehensive guide to Valencia and Valencia Property on the web.
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