Ready to Sell?

Your real estate agent will thoroughly guide the process and fundamentally consists of giving your property exclusively to an agency that belongs to AMPI. They will show your property to potential buyers until offers are received. Once your offer is accepted, the buyer will receive the transaction of the property, and simultaneously, you will receive the funds from the transaction.

Your listing agent will explain more details about the process that will be mostly related to your property and the real estate agent involved along the process.

Even if you have bought many properties or are even a real estate agent, there are some particular aspects beyond the conventional process that you should know and that will be key for a successful transaction and experience:

1. Home’s Sale Price

Be realistic when setting the price. Your real estate agent, your potential buyer’s agent, and even buyers have direct access to price information in the local market. Your agent can help you figure out what your home is worth; an unreasonably overpriced property will delay the closing date.

An experienced agent will discuss the matter head-on with you. An inexperienced agent would probably allow you to list your property at a premium as long as he has the opportunity to sell it. Some agents use the strategy of waiting to confirm due to the lack of showings requests or the receipt of lower-priced offers that the unit is overpriced. That is when they will address the issue of overpricing. On the other hand, setting a higher ticket is reasonable if there is a shortage of properties like yours in the market or the unit has premium features not found in other properties.

2. Legal / Taxes 

Before selling your house, you must ensure that your property has all the legal aspects in order. If anything is not in order, prepare to regularize it ahead and not leave any legal part for the end. In Mexico, some legal aspects can take considerable time. Therefore it is recommended to plan correctly.

The taxes you must pay to sell your home are based on the profit you will obtain from the sale. However, this calculation is based on the Mexican peso’s national currency. It is not a straightforward, specific percentage because it involves appreciation with time. Your profit in pesos will be the calculation basis for your taxes. An experienced agent will present you with an estimated tax calculation to pay before signing an agreement.

This calculation will be performed by an experienced tax attorney, who will most likely be part of this agent’s team. In addition, the agent will ask the tax attorney to plan a strategy for reducing your taxes promptly, which will help you have the best possible result. The agent’s commission for the real estate sale is 100% deductible from your capital gains before-tax calculation.

3. Real Estate Marketing

Marketing nowadays is a crucial point when selling your home. To have maximum exposure in promoting your property, you must sign an exclusive listing agreement with an agency that belongs to AMPI (Mexican Association of Real Estate Professionals).

This agreement will allow you to advertise the property on the Multi Listing System, commonly called MLS. Agents access this platform to search for properties for their buyer clients, and the general public can also access it. A percentage greater than 50% of sales in the Bay is made with the participation of 2 real estate agents or agencies.

Therefore you must advertise your property online in MLS. Additionally, an experienced local agent or agency will take specific initiatives to market your home according to its profile and location. For example, some buyer profiles have areas and types of favorite properties according to their family configuration, life stage, and others.

An experienced agency will focus all promotional efforts on those buyer segments compatible with your home. Also, professional agencies have correctly segmented buyer databases for specific properties allowing your property to have a more brilliant exposure by promoting directly to those potential buyers.

The presence and activity of internet marketing and social media in all its flavors will be a crucial differentiator to accelerate your home’s sale and obtain qualified buyers who will pay the price defined above.

4. Photos / Staging 

“A picture is worth more than 1000 words.” We have heard this phrase or other similar ones many times, and your property’s sale does not escape from it. Quality photos and recent tools like virtual tours will help you while listing your home and allow potential buyers to learn about all facets of their potential new home.

An experienced agent will make the key recommendations for the photography session, from staging to situations that must be corrected and strengths that must be enhanced in the photos of the house.

Your agent can also give you advice on staging and quick fixes and repairs that you will need to do to sell your home for top money. For example, putting a fresh coat of paint on the walls, or patching holes and cracks in the walls and ceilings, keep in mind that the first impression is vital in the process on selling a house fast.

5. Sales Commission

The standard real estate commission set by AMPI on the Bay for the agency’s services is 8%; it is fully deductible from your capital gains. At this point in the process, you should have already formed an idea of the agent you have interviewed and surely have a perception of their value as a professional.

Remember that professionals do not need to discount their services to attract clients. An agent who cannot defend his professional value will hardly be able to protect the value of your property. 

6. Security & Technology 

Last but not least. We all know cybercrime is focused on identity theft. Ask the agency that would support your transaction how they handle your sensitive data and information. Ask them what technology they are using to protect you and the process. Also, look for time-saving services and other technologies that will save you valuable time and a pleasant overall experience.