Juan, we all know that agents fees are daylight robbery, but:
55% of the commission goes to the agent that sold the property
45% of the commission goes to the agent that listed the propperty
5% of the commission goes to the IN.
Whether the commission is 5% or 7.5%, please don't tell me we now have to pay 105% of that fee????!!!!! "
Excuse me Roberto but I do not understand your post.... but let me give you an example...
Property sold: Price: € 200,000.- > Comision to be split 5%= 10,000.-
55% = 5500 To the selling agent 45% to the Listing agent 5% to the IN ( Interagency Network) Why 105% ? All IVA goes straight to the "Taxman"... not to any agent.
This IN Network, "interconects" the data bases of properties of many- many agents...... so you make a search ( is like google but for properties for sale) and then you have to make contact with the listing agent to assure acces to the property.
Now, this IN systems was copied by Viva from the "Interstate" of Interealty when they were born, but they "opened it" to all the agents....... before ( in 2004) there was a minimum of 7,5% commission..... but when I started to use it again last year..... there were more propperties at 5% than 7,5%....... actually, it is difficcult to find properties with more than 5% and if so....6%.... last year.... and VIVA listings dissapeared from the IN I guess because of the 2% ( ji.ji...) schemme.
So, let´s imagine.. a sale... price € 200,000.- 5% comision = 10,000.- ( +VAT)
5,500 goes to agent who produced the client.
4,500 goes to the agent that listed the property
500 goes to the IN System ( who placed the info arranged for us), obviously "fed" by the members of the system.
plus the VAT that goes to "Hacienda" ( Inland revenue service).
I hope this clarifies for you so you have at least an explanation from an agent...... daylight robbery.... that is your impression...... if you think it is so easy, you are welcome to join the business unemployment figures are on your side....... there is a lot of work out there.