Where do agents get there price from.

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22 Feb 2016 14:41 by newworld Star rating. 910 posts Send private message

i am looking at a property  on a Polaris resort, one agent has it at 130k another at 115k and the selling bank has it at 105k, good job I am not as daft as I look,For many people not in the know, they are getting mugged off  by greedy agents ( Not you Roy )





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22 Feb 2016 14:53 by TPCI Star rating in Marbella. 1 posts Send private message

If it is the same property, some agents list it with a different commission. But what you find is that is not the same property, but there are several available in the urbanisation, the developer/bank has one, there are let´s say, 2 resales and have different specifications. Also, some agents increase the price because the banks pay just a 1% or 2% commision of the selling price and the normal percentage is 5%. Best option if the bank has one...go with them.



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22 Feb 2016 14:53 by inspectahomespain Star rating in Orihuela Costa, Spai.... 2417 posts Send private message

Vip Supporter

I totally agree with the comments here, as an agent that does not list many of my own properties even for me it is frustrating to see the same property, listed by multiple agents, at different prices, where all they are doing is taking what the main listing agent is charging and then putting on their chunk, this is just greed however wit bank properties they ofetn pay the agent so little in commisson that they are not worth selling

Even today an agent mailed me with a just reduced by €30k offer on a property that I know is €20K less than another agent, with a decent commission in the price, €50k commission potentially on a €160k property is a little heavy

One good tip is to use things like Google picture search to get a list of all of the agents listing a property and then find the main supplier or use somebody that like me works with a variety of agents to find the right properties and take money from the commission paid to the listing agent



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22 Feb 2016 15:36 by johnzx Star rating in Spain. 5239 posts Send private message

I guess to be fair to the agents, unless they have a contact with the seller that says differently, they are open to ask what ever they like for a property.  It is up to buyers, like Newworld,  to be savvy.  

Retailers buy products from manufactures, via wholesalers, each adds their  margin.  with some that is more, with other less, but I think it would be  unfair to say that a small corner shop keeper is greedy just because he sells a product at a higher price than a supermarket.

I believe it was in 1964 that price control was abolished in UK thus opening the door for competition.  Many prices came down. That was considered as a good thing for the public.  I dont know if there ever was price control in Spain.





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25 Feb 2016 11:08 by gtivano21 Star rating. 1 posts Send private message

The 5% average commission agents ask is very high. I am selling my townhouse privately and I have been approched many time to list my property with the commission on top my asking price or other deals.

 

 





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25 Feb 2016 11:46 by johnzx Star rating in Spain. 5239 posts Send private message

I first became involved with the property market in Spain in 1983.  Agents commission then was usually 5%. I thought it was high then.





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18 Mar 2016 12:24 by jameswhite Star rating in Gibraltar. 1 posts Send private message

If you just want to sell your property in Spain then there is no need to choose estate agent with some sales commissions. There are several other options are available where you can sell your property privately with no sales commissions.



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18 Mar 2016 13:09 by Hephaestus Star rating in The Peak District Na.... 1237 posts Send private message

A 5% agents fee appeared to be very resonable back in the 1970's when you could pick up a property for very little, how do you quantify the fairness of a fixed sales percentage through the years?



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18 Mar 2016 13:38 by mariadecastro Star rating in Algeciras (Cadiz). 9288 posts Send private message

Legal Questions? Speak to Maria Direct

In my opinion, with the access to direct owners by online means of our days, work of estate agents need to be added with big guarantees to be justified.

An independent lawyer to help you through the whole process is much more somthing to pay for. I l know.... I am a lawyer and this reads as me selling my own " apples" but.... what could I say?

I am seeing these days some advertisements of agents which include lawyers fee into their packages. Dangerous for buyers, unethical for both agents and lawyers involved.

Let´s not committ same important mistakes again

Cheers

Maria



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Director www.costaluzlawyers.es

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18 Mar 2016 14:30 by scubamike Star rating in Murcia province . 220 posts Send private message

scubamike´s avatar

Agents in Spain tend to work on a multi agency basis A property may be listed by as many as 5 or more agents The agent therefore has only a one in five chance of selling If the commission is 5% and he only sells one in five of the properties on his books he effectively only gets 1% You will probably get a better deal if you have a sole agency  the agent is more likely to work in your favour and not try to persuade you to take a silly offer to line his pockets 





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18 Mar 2016 18:05 by newworld Star rating. 910 posts Send private message

I started this thread, the property I that I was looking this was put back on the market by the bank for 100k, so in 2 weeks the bank has had it at 4 different prices, I offered 105k the asking price at the time, then the bank said I was to late the offer had finished and it was 125k, I give up.





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18 Mar 2016 19:33 by windtalker Star rating. 1660 posts Send private message

This is standard practice in the UK as well I am a property developer and often get the run around from agency's acting on behalf of mortgage / banks ,what they tend to do is create a small action they will advertis a property very cheap generate a load of interest and then phone you back saying the price has gone up as they have had a higher offer would you like to make a higher bid that's the way it works .





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18 Mar 2016 21:56 by newworld Star rating. 910 posts Send private message

Or right ( that's how it works is it ) it's clearly not working that well in Spain with the same properties on the banks books month after month. And it clearly did not work out on this property starting at 125k then 105k then back to 125k then it' was offers over 120k then this wed 100k now it's been moved from the web site, hopefully it's sold it must be dizzy it's been going up and down like a brides nightie.





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