I have run a property website for 7 years now and have followed the big changes in the Spanish market with a personal and professional interest. The buyers are certainly a lot thinner on the ground now compared with 3 or 4 years ago, but they are there! So how should you set the price of your property? The first thing to do is to speak to local (and I mean local) agents, they know the market, they know what is selling and for what price. It is no good you telling them what you want if it is completely unrealistic. I know lots of agents that won't even take on a property now unless a sensible price is agreed. The frequent answer to that is "I've seen one similar to mine for x euros", but did it sell, probably not.
Look in many agents windows and you will see photos of villas that have obviously been on their books for years. From the agents point of view, why would their salesmen take potential buyers to see your property if it is overpriced, they want to earn commission, so they will concentrate on the best priced villas and apartments on their books. Check out prices on the internet as well, if you see something similar to yours contact the owner or agent and ask them how long it has been on the market. I always ignore printed price lists and brochures, they are usually out of date, plus the bargains are always sold before they get on there. Now once you have settled on a value, then visit all the local agents and get it on as many of their books as possible, but don't sign sole agent contracts. This brings me to another point, get plenty of keys cut, enough for a set for each agent. This is very important as salesmen may only have a couple of hours with a potential customer, they won't want to spend half that trying to get keys, they will take them to see the properties to which they already have the keys.
Agents fees certainly vary a great deal, but what does it matter how much they earn if they sell your property? In my experience the more expensive agents tend to sell more properties, but I'm sure that isn't always the case. To avoid this expense you should try to sell it your self, as long as you get a good solicitor it shouldn't be a problem and their fees shouldn't be more than a flat fee of a few hundred euros.
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