Massive drop in keywordword with no change
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Hi Jason,
Have your competitors changed anything and for how long has this change been there at the moment? Sometimes we see it happen that we rank stable for weeks on a certain keyword and that after that we rank terrible for a day or 2-3 while afterwards returning to our 'old and normal' positions.
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I second the suggestion to investigate what your competitors have been doing, Jason. It's just as likely that they've pulled ahead as it is that you've fallen behind.
One thing I'd suggest is to do some competitive research using the Keyword Difficulty tool, which is included in your Pro subscription. There's a quick video on how to do that here.

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Couple things I noticed...
1st - Is the business name "Properties For Sale Mallorca" or is that the keyword you're trying for? It looks like it's on dozens of pages on your site, which isn't ideal. If that's a target keyword, then it should be focused down to one page to make sure you're not confusing Googlebot. That could be diluting your ranking potential.
2nd - Some of the wording on your website seems a little wonky... "Not just your Estate Agents Mallorca, but property finder for Mallorca, search today on our vast database." To me that is an indication that your site may be over-optimized. I would check to make sure the site content is natural and not keyword stuffed, since that could be contributing to your ranking problems.
What else have you done on the site (either onsite or offsite)?
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