Extreme House Selling For Spanish Property Sellers

Over the last couple of weeks,
the problems facing Spain’s banks have become clear.  The country’s government has applied for a €100 billion
bailout from the EU to shore up the country’s struggling financial services
industry with banks in more trouble than previously thought. International property sites
have seen a rise in Spanish property owners listing houses for sale to attract
an overseas buyers. Lenders and property experts now advise to employ new marketing
techniques to help sell Spanish property.

One of the reasons that Spanish
banks are in such debt is because of the volume of bad property
investments.  Banks own billions of
euros worth of repossessed and empty properties and need to get these off their
books before a recovery can happen.

So, it’s no surprise that banks
are using increasingly quirky and desperate tactics to sell their property
assets.  Keep reading to find out
more.

Quirky incentives trying to encourage buyers of property in Spain

Recent Bank of Spain figures show
the banks have amassed a total of around €184 billion in bad property
investments since the housing bubble burst in 2008.

In order to recoup some of this
money, many banks are offering a range of incentives to buyers wanting to
purchase homes from them.  BBVA, one
of the 18 banks recently downgraded by credit agency Fitch, is now offering a
mortgage with 100 per cent financing on its real estate website.

CNN reports than Spain’s largest
bank, Santander, is offering ‘retro prices’ on its real estate website. It is
advertising homes for under €50,000 and ‘very favourable financing conditions.’
 Bankia also has incentives, with a
website offering a €2,000 discount on any properties sold for over €50,000.

Some lenders are offering even
quirkier incentives to would-be buyers. 
La Caixa’s website is offering a free iPad for anyone who recommends a
friend who successfully purchases a home from them.  The website is also recommending that customers put forward
any offer, no matter how low, on their properties, with the line: “You set
the price… we’ll give you an answer in 24 hours.” The tactics seem like extreme house selling a form of proactive marketing undertaken in desperate markets.

Extreme House Selling

The
concept of Extreme House Selling is supported by one of UK’s longest running
private house sale or for sale by owner website The
Little House Company and is a phrase first used by best selling author
Jonathan Blain.

Homesgofast.com director Nick Marr “ The fact
that an agent may have applied similar marketing strategies to all of their
homes could mean that you are able to take advantage of the situation. This
blanket marketing approach means that all a seller has to do is to introduce
something different to their marketing and you will effectively stand out from
the crowd. The concept requires that only a few people become Extreme House Sellers.

Learn more about
extreme house selling