As part of an ongoing review of the Novi Property Mallorca business, and the activities of the associated Property Finding, Professional Services and Mortgage Broking business areas, Owner and Managing Partner David Novi has announced, via the Company’s , the core benefits offered to clients using Novi Property to buy property in Mallorca and that will be central to the Company’s new Business Plan for 2009 – 2010.
Explaining, David Novi added, “these are uniquely challenging times for businesses in most sectors of the economy, but perhaps especially those related to real estate. Spanish and Mallorca property is suffering particularly badly and while as an organisation we can largely only react to these market conditions what we can do, more positively, is examine how best to compete moving forwards, central to which is offering our clients what they really want when they are buying a property in Mallorca“.
“What we did was ask what buyers really want and, from this, we derived the basis in which we will operate our two property agency businesses, and (Specialists in the Pollensa and Alcudia property markets)”. The central requirements were identified as:
- Access to a very wide selection of good quality properties meeting the profile of our main target market, international clients seeking mid to top range Mallorca properties as second homes or for a relocation to the Island.
- That the asking price, for the properties identified, is the lowest available (as many properties are offered via a large number of separate agencies, it is not uncommon to find the same property offered by different agents at different prices unless the vendors are particularly strict that they want “uniform pricing”). What a client wants is the peace of mind that they are starting from an “informed and transparent” picture when they start to negotiate.
- That the purchaser client understands the value of the underlying property (here we are talking about the “value” of the property not the price or asking price being sought by the vendor). In other words the prospective buyer wants to know that not only that the asking price is the best available on the market but also what the property is worth in order that they can assess what price they want to offer. In the current market there can be considerable differences between asking prices and underlying value, the result of which can be a purchaser over paying.
- Comfort that buyers are dealing with and being represented by an individual or organisation with Values aligned to their own; are honest and professional; knowledgeable; and are impartial (have a duty of care to one party only – the buyer)
“From these “central requirements” we identified the “benefits” we can offer clients” added Novi. These can be summarised as:
- Access to avery wide selection of good quality properties – Via our extensive network of major and niche estate agents, and private owners, in Mallorca we are able to access, for clients, the widest range of properties for sale on the Island obviating the need for our clients to contact with many different estate agents.
- The asking price is the lowest available - Applying a thorough approach to market research we will always endeavour to identify the lowest price a target property is offered in the market.
- The real value of the underlying property – As Chartered Surveyors and specialist Mallorca property valuers to lending and legal institutions in the UK, we are able to provide an informed opinion as to the real value of any particular property and thus at what level offers etc should be made. With very significant discrepancies between asking prices and real values this is a very important aspect if buyers are to not risk overpaying.
- The buyer is represented by an honest, professional, knowledgeableand impartial person / organisation - As member of the RICS we have adopted the of our professional Institution thus giving clients an assurance that our approach will at all times be strictly professional and based on our core values of integrity, honesty and respect.
For further details as to how Novi Property Mallorca and Properties International can assist you with your Mallorca property acquisition requirements please David Novi BA MPhil MRICS at