Expat Property Agents Fees !

I asked georgia because she was the only one writing posts! any agent was free to put their views forward. It's a fair enough question about whether those who charge more do more. Estate agents used to be regulated in Spain, but for some odd reason they are not now-shame!

"If their level of work and services justify the amount paid, then yes their fees are justified. They set their fee and are making a living, just like anyone else. But that is only my thought...others may feel not."

Could not agree more & also concur this COULD BE a helpful thread for anyone considering buying in Spain. Clearly, the OP was not directed at any particular agent but was hoping for general feedback from people in the profession.

Harry

 The whole business of agents fees just demonstrates the age old adage :  A property is only worth what someone will pay for it.

In the heady days of madness, Parador, Atlas and Masa - and no doubt others added huge sums onto the builders prices - (I always thought 15% but can believe 18%), and yet there was no shortage of buyers.    

A local agent is currently advertising that they charge 1% - and still nothing but the cheapest is shifting.  People will only look at the price they have to pay - and worry about charges after the event!!!

BTW - I bought from Atlas and do not really feel ripped off.   I think I got a reasonable service from them - but obviously now that I know the area and speak decent Spanish - I would not use anything like them again.

Someone PMd' me to suggest its surprising that no one in the real estate profession takes this opportunity to explain their services etc.

Perhaps not an unreasonable point !

Harry

elviriadreamer, you should post more you are one of the few people who make any sense on here, a voice of reason, thank you.

I think the reason you haven't had any other agents adding to this thread is that it is an impossible question. However, there seemed to be a bit of a challenge thrown down, so I will at least add some comments to the thread and hope it is useful.

We have a minimum fee we can't go below, or we would go bust., but each sale is different.  What people seem to forget is that we bear all the costs of marketing the property and only get paid if we sell.  When I sold my house in Glasgow I had to pay a thousand pounds in advertising, also I paid for brochures and for the For Sale sign - without any guarantee of a sale.  In Spain you don't pay a cent if you don't sell.   The cost  of running a business in Spain is very high and, as a self-employed agent, I need to pay Social Security of 274 euros a month, plus 60 euros for an accountant, even if I have earned nothing at all.  I also need to give a portion of the fees to the office I work with, and often to another agent who has introduced either the buyer or seller.  Then Income Tax, VAT ... hopefully you get the picture.

We check all the paperwork on a property and can spend a lot of time contacting the local council, water companies, electrical companies, administrators, etc, chasing up documentation.  Even today, some clients don't bother with a lawyer, so we can end up doing all the conveyancing work which a lawyer is often paid 1,000 euros to do, as well as attending the Notary.

So there is no clear answer to the question - the fees are different every time and the amount of work is different every time.

We get a lot of our clients through personal recommendations, so hopefully that means I am offering a service that people value.

...  and by the way, Georgia is male!

Hi Claire,

Thats helpful & provides a better understanding of whats involved.

Harry

Hi Poppyseed

Aaaaw that's nice of you. I do still check the site lots/daily for info and interesting blogs...even if not posting. Because I am still not living in Spain and not holidaying abroad/in Spain at the moment I only post if I feel I can share something useful.

If I ever make it to my field in my caravan, I'm sure I will post lots...I will have nothing else to do...except appreciate my surroundings  :)

Thank you for your kind comments.


Claire...That was put very well and as a professional, you have described far better the costs and legwork involved. More than meets the eye. Some agents really do, do a good job and are worth every penny they charge. Sadly, it's the sharks that have tarnished the good guys and given agents a bad rep.

So why couldn't georgia put forward the same points? However, if  I sold a property for 250000 euros, and the agent was paid 2% + iva, that's a hell of a lot of money, even taking into account what they do, so commision rates of 5+ % seem way over the top to me. 

 The reason i didn't is because whatever i put on here people like you (well two or three) would moan because thats all you seem to do,i have looked through the threads and you are arguing with everyone,especially over Camposol...strangely your EOS name?!

I would be damned if i did and damned if i didn't so i chose not to get embroiled in your petty bickerings.

I haven't got the time or inclination to defend my fees,my vendors dont question them so why should a complete stranger.

Believe me, many, many people question the fees of estate agents in  general!

 Could you tell me what was your previous proffession?

Nursing sister

would have never have had you down as a woman!!

That's very sexist-perhaps a back handed compliment if you think I argue like a man!

 you need to seriously chill out....

Because you haven't disc;losed your profile information i wasn't to know,just an observation,how can it be deemed to be sexist for goodness sake???

I bet your ward was a laugh a minute...

If Spain is making you this miserable and you can't sell your house then maybe its time to lock up and go,only a suggestion!

My ward was fine-many happy moments over the years

Spain itself doesn't make me miserable-some aspects of how people behave here do.

I am prepared to wait, and no way would I lock up and go, leaving a house that is totally mine. I would not let it go at a giveaway price , not line an estate agent's pocket with high commission rates, so I'll be around for a while yet!

 just one comment...the "give away"....i get this quite often,because you are selling for less than you purchased people think they are giving their property away, when in actual fact they are only selling for today's market price.

I would imagine by the sounds of it you will be here some time......

Late lunch today...so back to the grind now.

It's been fun, georgia