Speaking with a client recently and the topic of why the same Lanzarote properties are being sold with different real estate agencies in Lanzarote came up.
It can look confusing and even suspicious to Irish, British and other outside property buyers who are interested in buying property in Lanzarote.
It is however down to the way the Spanish sales market has been for many years.
There are two main reasons:
From the sellers point of view, they mainly wish to have the property presented to as many potential buyers as possible. Sometimes Lanzarote Real Estate agencies have a particular market that they work more strongly with.
An example would be where an agency focuses more on the Irish or British buyers market rather than the German or Norwegian. This could be down to a number of different reasons but mainly language skills and having built up a strong relationship or database within that market over the years.
Being familiar with what a buyer requires is important to an agent to work well for a seller. By having in-depth knowledge of buyer behaviour based on where they are originally from, can even make or break a sale.
Knowledge such as this can take years to build up and acquire. Although Lanzarote is a small island, there is a wide variety of buyers markets interested in property here.
Lanzarote property buyers from Ireland, the U.K and Germany often compete with buyers from France, Italy, Belgium and Norway.
That is not forgetting that there is a large number of buyers for property in Lanzarote who come from mainland Spain. The Lanzarote lifestyle is sought after by many nationalities throughout Europe.
It would be very tough to cover all territories in depth and in equal measures, so in many cases Lanzarote Real Estate Agencies will focus on the markets that they can serve the best.
If you are interested in viewing a Lanzarote property that is with different estate agents you are probably wondering ''Which is the best agency to contact?''
In our experience the agency that has the lower asking price is a good place to start. There is a far greater chance that they are working more closely with the seller and working in a more effective way together to get a deal done with a buyer.
Raise the question with the agent when you are in contact with them and see what they have to say. Ask the agent if they are dealing directly with the seller or if they are working with another outside agency.
If that agency are dealing with another agency and there is a price discrepancy then this can be a red flag in terms of how strong the relationship is with the owner.
Good agents are open and clear about any question asked. The more questions a buyer asks the better for everyone involved, so that there are no mysteries around a potential purchase. Also it can put an agent to the test.
As a buyer you should feel confident that you are getting solid information in return. Queries can always be checked online or independently with a lawyer as a second opinion and that can give a measure of who you are dealing with.
Bear in mind that if a property is listed with multiple agencies there is also a slightly higher chance that information is not up to date in each.
Start with the lowest price advertised and then check with another one or two afterwards anyway to see how they answer your queries. The agent or agencies with the best seller relationship are more than likely going to be able to help you seal the deal on your dream Lanzarote home.
Can I look at the same property with different agencies?
There is usually nothing stopping you as a buyer to arrange multiple viewings of the same property with various Lanzarote agents. It depends on the aim of what you feel you want to achieve. If it is to qualify the agent then read on, but there are some things to bear in mind.
Lanzarote is a small island and if a property has been listed as part of an MLS service then usually there is one agency keyholder. In this situation the keyholders might become suspicious by the viewers actions of trying to visit multiple times with various agencies.
Another situation that could arise is that the home-owner could be present when a viewing is happening and might feel that a second viewing with another agency is suspicious, so it might not be a good idea.
As a buyer the temptation could be there to do this with good reason. Buying Lanzarote property is a big investment!
You might want to do a second viewing with another agency to check if you are getting all of the details or to uncover something that didn’t feel quite right with the first agent.
This is understandable, however the best way to avoid this feeling is to ask lots of questions either on the day or with follow up questions soon after the original visit.
Here is possibly one of the best tips when choosing which sales agent to work with: If they are asking you lots of good qualifying questions, then this is a very good sign!
Of course it must be professional but if you feel that the agent is trying to understand what it is that you require, that provides a solution to help you, then mark that down as a positive in the agent's favour.
Another great tip: is to get this feeling from the beginning of your interaction with the agent working with the property that you have an interest in.
A professional agent will be able to save you time and energy while applying professional advice to each situation. They will work with you, so that the focus is on finding the correct solution to your Lanzarote property needs.
If you recognise or feel this as a buyer there is a very high percentage chance that they are being as professional with the selling side as well, which is a solid sign overall.
Feedback is key from all sides including you as a Lanzarote Property Buyer, to getting what you want.
Just click this link: to find great tips and resources to make your dream come true. Avoid pitfalls and zone in on the Lanzarote property that best suits you, your familys or your investment needs doesn't have to be as nerve racking as you may think.
Lanzarote offers wonderful opportunities for a remarkable lifestyle just 4 hours from most cities throughout Europe. Its climate is amongst the best in the world and even throughout the major changes of 2020/21 it has been proven to be one of the safest places in the world as well.
A full time move to Lanzarote or buying a holiday home on this wonderful Canarian Island is a solid choice that is recognised by generations of people who revisit this island year after year.
Lanzarote property for sale in Playa Blanca creates a different set of criteria than Lanzarote property for sale in Puerto Del Carmen and this is something to bear in mind.
It also creates a different set of criteria when seeking a foothold in the Lanzarote investments market.
Wherever you wish to be, the art in finding your best life here is choosing where you wish to live, carefully, and with the mind as well as the heart!
Many potential buyers stay in private rental accommodation to get a better feel for an area before eventually purchasing their own slice of Lanzarote heaven.
The sheer number of tourist visitors and underpin the evergreen buoyancy of the Lanzarote property market.
On top of that, Lanzarote island stands firm in its commitment to not over reach on the number of properties that are built here.
In doing so, the housing supply is far lower than the mainland of Spain which sees wilder price swings and seems far more dependent on stronger economic conditions then this little jewel in the Atlantic ocean.
Lanzarote truly has something to offer everybody within its beautiful terrain.
From families looking for quiet relaxation to sports enthusiasts who wish to train all year round, most would agree that it is one of the most wonderful places on earth. Recent reports suggest that it will stay that way for many years to come....at least!
Further Resources and Reading
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If you wish to speak with us about Selling Your Lanzarote Property or to Buy a Home in Lanzarote then call Espacio Lanzarote Property Consultants on +34 686 606 541 or click here to contact us online