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Scambuster, I agree about salespeaple promising things that the company does not condone, and yes it is the companies fault, but it does change the prospective regarding the ethics. Most posters on this type of forum beleive that Large REA´s force sales people to lie to get sales in the bag without exception, but, this, in my opinion is only practiced by a few, in the main, ethics have begun to enter the Spanish property industry over the past 2-3 years as our industry is more closely watched and monitored. Most of the wide boys are in Bulgaria and Turkey now, preying on a fledgling market just as they did in CDS 20 years ago.
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Oh BTW scambuster, am I missing out on large chunks of commission. Where on earth can I get 20% commission!!!!??? My new build sales avarage 8% at best, and even then I have to commit to sending the developer every client I can get my hands on and on the odd occasion have taken my aunt Peggy just to lookactive or they will drop me to 6%.
Another thing, it makes no difference if a buyer goes direct to the developer, there is no discount for private buyers, one large developer tried that once and it turned out to be an agent sending his brother to see if they gave a discount, when the story broke agents deserted them in droves, quite right in my opinion, I spend thousands of Euro´s advertising projects in the UK on behalf of Polaris etc. so why should they offer the properties cheaper if a buyer walks into their sales office probably after seeing my expensive advert. At some point loyalty to their agents has to be paramount to a developer or we take our clients elsewhere. Not disshonest, not greedy, just trying to survive and pay my advertising bills.
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And another bloody thing!!! sorry about this scambuster i´ve go me self goin now ;+) If you buy from a developer direct, they tend to forget you very quickly and don´t really keep you informed about things, yet you can buy through an agent at no extra cost and a good agent will pester the living daylights out of the developer to keep you informed, mostly for the right reasons, but, if you look as though therés another sale in you, they will lick your car, kids, and wife clean every night before they are put to bed as well.
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Calm down Gillespie you'll bust one.
Sorry to hear about your low commission, I don't know who you work for, however you know very well that some of the larger REA's charge as much as 30% on off-plans and more in some cases (certainly in the past)
I have every sympathy with the smaller honest agents trying to make a living in a tough market which has been spoilt to a great extent by the scammers often mentioned on websites.
As for alanwspencer saying his property is in positive equity in Duquesa area, unless he bought a while ago he's very much mislead in thinking that. Look on the Spanish Property Insight, an agent called Inez says the opposite to him. In this market if he's recently bought he's in negative equity.
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With regards to property and supposed equity and money made - something is only worth what someone else is prepared to pay for it.
Unfortunately at the current moment no one would be prepared to pay in excess of 350,000 euros or more for a 2 bed apartment that end of the coast! Even at 180,000 euros they are hard to shift!
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I bought 3 years ago and as I said even allowing for the market levelling off I am not in negative equity. In any case the market at some point will pick up again and as I don't intend to sell for quite some time I am not too bothered at this moment in time!
Alan
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Thanks Justin,
Alan then thats great and its the way buying abroad should be approached. If any agent says you will make a ton of money by flipping then walk away....Fast!
Yes the market will pick up in time - the average past results look at a 7 year cycle. People do still want to buy and there is business around - its really back to a normal market now, athought the illegal build situation is a thorn in the side!
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Thanks Smiley - I reckon you me and a couple of others will be the only ones making sense out of a non sensical situation soon!
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www.herbalmarbella.com
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Went to one of their shows few weeks ago. They're plugging Brazil now + many other places. It comes over as hard sell + they don't seem to know much about the places they're promoting
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Hi Milli,
Not seen you on the forumbefore, so welcome to EOS!
I don't know anything about MRI International, I have had no dealings with them, but I am sure someone will have on the forum and will relpy to you soon!
Kind regards,
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Hi - i don't know much about MRI either, but friends of mine from Ireland have just told me a horror story they're still struggling with after buying through MRI in Bulgaria. Very simply, MRI have been negligent in their care of the buyer. Only looking for a quick sale and leaving out crucial information that only they knew. This has just come to light - nearing completion of course - and they are furious with MRI.
My friends have successfully bought off-plan in Spain (with great agents and developer), they're not inexperienced but this time they chose the wrong company! Same old caveat - buyer beware , ...............and maybe stick with Spain ??
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Jane
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Hi milli, and welcome to the site.
It seems many companies try and jump on the bandwagon and start promoting "the next big thing" without really knowing much about it. Personally I would rather use a locally based company.
********* I believe MRI have had some trouble in Bulgaria and have had to close some offices and everything.
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The trouble is that quite a few of the usual rogue agents on the Costas have been hard selling in Bulgaria, Turkey etc now that business has slowed in Spain. I have a view (shared by others) on a few including the agent poor old Jan is upset about me airing, who have already been caught mis-selling in Turkey as well. Many people have been glad to have learnt about the pitfalls though and not fallen for the spiel as a result.
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It really doesnt matter where they are selling - if the agent is unscrupulous they will be at it wherever they think they can make a buck. One of the reasons I think more people will come back to Spain as the market matures further and we start to get more transparency here - there are a lot of people out there buying up Bulgaria, Turkey, Dubai etc as if property is going out of fashion - it seems that people will buy anything if it seems cheap enough - question that I think is more pertinent is whether it is good value and what is the risk element - I know there are a lot of people who have been sold up the swanee here but at least things are starting to happen so that it shouldnt happen again. Long live the revolution!
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Oh i dont know - you forget I have seen what you REALLY look like - dont be fooled by the avatar folks - his teeth are in reality not quite as sharp...
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