Selling a house in Costa Rica can be an ongoing affair if you do not get off to a good start. The market here has always been soft. In my 16 years of experience, I have seen one of the best markets ever after COVID. Just after COVID the market spiked and many realtors found themselves without much inventory. Since then things have slowed down a bit, but the market remains busier than it was before COVID. After the USA election, we are seeing another small boom in the market, so most properties are selling faster than in past years.
Once you decide to sell, the last thing you want is for your house or property to sit on the market for months or years. Hiring a realtor can be a scary step in the process, some do not speak both English and Spanish which is crucial in this market, some are not here legally, and some do not pay taxes and are working under the table. Some do not answer their phones or emails, and some are simply unmotivated. Any of these qualities in a realtor can affect the sale of your home.
Regardless of experience, skill, or market knowledge, many realtors now push for exclusive listings, stating that they will take professional pictures, promote your property, and represent you as the seller.
In my experience, all realtors will do all of these things without the need to sign an exclusive agreement. Most marketing here is not expensive and since we all use the same platforms sellers without exclusive agreements will receive the same amount of marketing as those that have exclusivity.
What does exclusivity mean? It means that if you sell your house during the period of the contract you will be obligated to pay the realtor with whom you signed to pay a commission, even if you find the buyer. It limits your exposure and ties you to this realtor. You are 100% reliant on one person to sell your home in a market that is inundated with properties for sale.
Costa Rican realtors rely on realtor.com for an MLS and there is a CR MLS, but not all properties are on it and it is not a very user-friendly webpage so it is not a popular spot for clients to look for properties. Before realtor.com we used point2homes and before that, it was another independent website. It changes from year to year. Most realtors will put their best listings on these sites to try to grab the clients.
To sell your home in CR you need a professional realtor. Your best bet is to list your property with 2 to 3 realtors who are experienced and well-known in your area.
Please feel free to contact Bishop Realty for a free consultation on the pricing of your home, we never ask for exclusive contracts, and we are the top-selling agency in the Grecia area. With over 16 years of experience, no one knows the market better than us and we are happy to help you move on in life to your next adventure.