A long time to sell houses.The Bank of Italy and Tecnoborsa’s recent survey

Edited by AC

On average, its taking longer, more than nine months in fact, to sell a property and only if the price drops by 15%. The findings by the Bank of Italy and Tecnoborsa are based on the first three months of 2014, which sees an increase of about one month more than in the same period last year. In 2013, the time between the acquisition of a property and selling, was 8.6 months (now 9.3). The report then shows how this is affected by the “price” factor, and how this is out of sync with demand and supply. Again in the first quarter of 2014, there has been a sign of growth in the number of people who have returned to buy a house and apply for a mortgage, so the market is obviously moving in the right direction, why then are there still difficulties in selling?. One factor lies in the price, this has to remain competitive and keep pace with the market. Persist in wanting to sell at a particular price outside of the market, means not selling at all. Another is the property’s visibility. In a growing market, in particular a global market as it is today, a property being clearly visible is important to reach a greater number of potential buyers.
We asked David Parish, International Property Consultant for the Marche region for the Great Estate & Chesterton real estate group, about what happens in the international market.

“If you want to put a property for sale on the international market it is important to maintain a competitive cost compared to the market, otherwise the property will never be sold

Is visibility important in the international market?

“Absolutely, perhaps even more so than in the domestic market. Potential clients who, in most cases, do not know the area are looking for a home by browsing online or directly relying on professionals

How does the Great Estate & Chesterton Real Estate Group ensure the visibility of a property?

“Firstly, due to its reliability and professionalism gained in the industry over its many years, and secondly by sharing marketing plans

What’s this?

“The Great Estate & Chesterton Real Estate Group knows how important communication is, especially at certain levels. If you want to sell a property in a foreign market, it is important to be present on that market, have advertising space in real estate magazines and websites, do all the work necessary to achieve top positions for the property when you search for certain keywords. In short, it is full-time work but it gets results

You talked about sharing, does this mean that the seller has to bear some of the costs?

“It means that we ask the seller to “anticipate” a portion of the costs that will then be separate, however, the percentage is up to the agency

And this system works?

“Yes, because by doing so, we are able to bear the costs of an advertising campaign in most European countries not only from the UK and Germany, but also from Russia to China, and this, together with our professionalism, provide clients with a quality service. I don’t believe that there are many other agencies that can provide such a service!