It’s a seller’s market worldwide, especially in highly desirable locations for families, expats and retirees such as San Miguel de Allende. This historic town in central Mexico is incredibly attractive place to live (it was recently crowned the best city in the world). With wonderful weather, a rich history, and a beautiful landscape, it’s easy to understand why San Miguel is such a great place for a primary residence, vacation home, or even to purchase an investment property.
If you currently live or own a home in the area and are considering selling it, it is truly one of the best times to sell. However, because most of today’s buyers aren’t locals, having a knowledgeable broker to help you navigate the selling process is essential.
“Most buyers today are coming from another country and are facing changes that go far beyond adapting to a new house. For many, it is a new culture, filled with customs and traditions that will be surprising to them,” says agent Doug Robinson of the area’s top brokerage CDR San Miguel.
Here are a few helpful tips for finding the right broker and navigating the sales process in San Miguel de Allende.
Ask For Recommendations To Find The Right Broker
Fellow CDR San Miguel agent Jessica Patterson is a native of the area, bilingual, and has managed over $30 million in sales. A true expert in her field, she shares that the best way to find a broker is to get recommendations from someone you know who has bought or sold in San Miguel de Allende.
However, if there isn’t anyone in your family or social circle, Patterson adds that there are other ways to find the right fit for your property. “You can also seek recommendations in the various online newcomer communities, such as the ones on Facebook,” she says. “Alternatively, you can do your own research online. The major real estate agencies provide a profile of each of their agents.”
Your Broker Should Be In Constant Communication With You
Even after you sign a contract, it’s not unusual to question if you’re working with the right salesperson. But if your broker or agent is in constant communication, you are likely in good hands. “You know you’re working with the right broker if you are confident that they are listening to your needs, you feel comfortable working closely with them, and you trust that they are being ethical, honest, and reliable,” says Patterson. “For example, a broker should always be transparent about the following things— which properties they personally represent and the experience they have, as well as the properties they have sold.”
Keep Your Eyes Open For Red Flags
If you don’t feel your broker is listening to your needs and communicating well, it might be a sign to end the relationship. “This relationship is critical to the success of your sale. In particular, you should reconsider your choice if you notice any red flags. If you feel pressured to accept an offer that does not make sense to you or is significantly below your expectations, or if you have not yet confirmed your capital gains tax liability,” says the agent.
Understand The Role Of The Notary
Buyers from outside of the country may be unaware of the particulars of buying and selling in Mexico, including comprehending the role of the notary, which Patterson explains is crucial. “In Mexico, a Public Notary is a government-appointed lawyer who processes and certifies all real estate transactions, including drawing up and reviewing all official documents to ensure the proper transfer of the property. In addition, it is essential for a seller to understand the capital gains law in Mexico and ascertain with a notary the specific capital gains implications of a given sale. Your broker will coordinate this for you.”
Home Staging Can Be Unnecessary
While many of us are under the impression that home staging is essential for bringing in top dollars, that’s not always the case in San Miguel, according to Patterson. “A good broker, or for that matter, any good salesperson, can see past the limitations of the products they are selling. I have found that most homes in San Miguel are already decorated beautifully or have sufficient character and charm to make them desirable, so simply presenting your home in a clean, neat manner is enough.”
Still, she notes that in certain instances, some brokers may want to have their clients professionally stage their homes.