Pricing your home and choosing a selling agent

Terms used

• Tasación — A tasación is a certified valuation of your home by an official appraiser.
• Valor de referencia — The valor de referencia is the official value the tax office assigns to a property for tax purposes.
• IVA — IVA is Spain's value-added tax, 21% on most services, including agency fees.
• Contrato de exclusiva — A contrato de exclusiva is an agency contract giving one agent the sole right to sell your home for a set period.
• Catastro — The Catastro is Spain's official property register, showing each property's data and cadastral value.

Key rules

• Pricing evidence: Base your price on sold prices, not asking prices.
• Commission: Agents typically charge 3% to 6% of the sale price, plus 21% IVA.
• Exclusivity: During an exclusive contract you cannot use other agents, and you usually owe the commission even if you find the buyer.
• Renewal: Many exclusive contracts renew automatically unless you give notice before expiry.

Price from what homes sold for, not what they are listed at

Asking prices show what other sellers hope to get. Sold prices show what buyers paid. Build your price on sold prices, then use asking prices only to see your competition.

Do it in this order:

1. Find sold prices for similar homes in your street or district. Adjust for size, floor, condition, views and parking.
2. Ask one or more agents for a free estimate.
3. If you want an independent figure, order a certified appraisal (tasación) from an official appraiser. It costs roughly 250-600 euros. A bank's valuation can differ from what a buyer will actually pay.
4. Check the price per square metre against area statistics.

Where to find sold prices

Most of these are free to view as area statistics:

• The property registrars' price reports by area.
• The notaries' average sale prices from deeds, by province.
• The national statistics office's housing price index, with regional series.
• The housing ministry's price per square metre by municipality, based on valuations.
• The Catastro, which shows cadastral value and property data, plus the official reference value (valor de referencia) used for tax.

Property-level registry data costs a small fee. Listing portals publish asking prices, not sold prices. Area statistics rarely show individual comparable sales, so ask agents which recent sales they used.

Leave room, but do not overshoot

Spanish asking prices usually leave 5-10% room for negotiation. Pricing too high tends to make the sale slower. Margins differ by city, so ask local agents what buyers are really paying.

Test the price for 4-8 weeks. If you get few visits or no offers, cut it in steps of around 3-5%.

What a selling agent costs

Expect 3% to 6% of the sale price, commonly 4-5%. Cheaper homes often carry a minimum fee or a higher percentage, and so do holiday areas. IVA of 21% is normally added on top. You normally pay, and the fee is due on completion at the deed or as the contract says. Fixed-fee and online agents charge less. Rates are negotiable.

Exclusive or open terms

In an exclusive contract (contrato de exclusiva) you cannot use other agents during the term. Before signing, check:

• Length: usually 3 to 6 months, sometimes up to 12.
• Automatic renewal: many contracts renew unless you give notice, often 15-30 days before expiry. Put the date in your diary.
• Selling it yourself: the agent is usually still paid, normally the full commission.
• Early exit: a penalty is common, often equal to the commission or a set percentage.
• Protection period: some contracts make you pay if a buyer the agent introduced buys after the contract ends.

Everything here is negotiable. If you are unsure about an agent, ask for a shorter exclusive term, or keep the terms open. The decision below compares the options.

Choosing between options

Should you sign an exclusive agency contract or keep your options open?

• Sign an exclusive contract (exclusiva): You want one agent to put full effort into your sale and you accept a term of typically 3 to 6 months with no other agents.

• Keep terms open with no exclusivity: You want to use several agents or sell directly without owing a commission on your own sale.

• Negotiate a shorter exclusive term: You like one agent but want a short term, a clear notice period and a low or no early exit penalty.

Choose exclusive only if you accept that the agent is usually paid the full commission even when you find the buyer yourself, that the contract may renew automatically unless you give notice, and that leaving early often means a penalty.

Timeline and deadlines

• Compare sold and asking prices and get an agent estimate before you set your price: before you list

• Test the price on the market and watch visits and offers: for the first 4-8 weeks

• Cut the price in steps of around 3-5% if you have few visits or no offers: after 4-8 weeks without offers

• Give written notice if you do not want the contract to renew automatically: commonly 15-30 days before it expires

Documents you need

• Agency contract (contrato de exclusiva), issued by the agent: read the term, the commission, the automatic renewal and notice period, the early exit penalty and any protection period after expiry before you sign.

• Certified appraisal (tasación) from an official appraiser, if you want an independent valuation; it costs roughly 250-600 euros.

Frequently asked questions

How much room should I leave for negotiation in my asking price?

Expect buyers to negotiate, because Spanish asking prices typically leave 5-10% of room. Pricing too high tends to make the sale take longer.

Where can I find real sold prices for my area?

Notary and property registrar statistics, the national housing price index and the Ministry of Housing's price per square metre by municipality show prices from real deals. Most are free to view as area figures. Property-level registry data costs a small fee. Property portals show asking prices only, not sold prices.

What commission will a selling agent charge me?

Selling agents typically charge the seller 3% to 6% of the sale price, commonly around 4-5%, plus 21% VAT (IVA).

Do I still owe the agent if I find the buyer myself during an exclusive contract?

Yes, under an exclusive contract (exclusiva) you usually still owe the agent the full commission if you sell directly. Some contracts also protect the agent for buyers they introduced after the contract ends. Check these clauses before you sign.