Estate Agents in Spain

Estate Agents Spain Estate agents do not actually need any formal qualifications to operate in Spain, and as no regulations are in place, competition is enormous and many agents are in the Spanish property business for short-term gain and high commissions - and their commissions can average anything between 3 - 30% on top of the owners asking price! It is therefore advisable to shop around various property companies (inmobiliaria) both Spanish and English rather than buying a property in Spain from the first estate agent you find.

Often, many companies in the same area will have the same property, but prices will vary. In general, the smaller the company, the less staff to pay and the lower the commission added - however this is not the case with all of them! If you are selling your property, ask the agent what their commission rate is, and once the property is being marketed check to see what has been added.

Many people believe they can avoid commissions on new build or off plan property by buying direct from the builder. At one time this was true, but today property prices are set, and whether you buy through an agent or the builder, the price will be the same. The builder sets the price, and if you buy property direct from him, he will keep the 'commission' value, if you buy through an agent, the builder pays the agent the commission - on average around 5%. It is actually beneficial to buy property through the agent as they will help with all the legalities and after sales whereas the builder may not. There are also as many unscrupulous builders as agents, so choose well and always seek impartial legal advice.

Unfortunately, the British are rather mislead by the media when it comes to buying property in Spain, and are often disappointed when visiting to find that they cannot afford to buy what they had their heart set on. We get enquiries daily from people with £50,000 to spend, and their requirements are 2/3 bed villa near the beach. This is virtually impossible now along the Spanish Costas without the help of a Spanish mortgage We are able to offer mortgage advice, low interest rates and cashback on mortgages for Spanish property.

Contacting Estate Agents Many people believe that the best way to find their ideal Spanish property is to contact as many as possible before leaving home, arranging meetings and viewings for the time they will be in Spain. Generally, this is not a good idea from either your point of view, or theirs. When an Agent realises that you have contacted every estate agency in the area, (and many work together so its highly probable), they will not give you their full attention. Apart from this, you will probably find that each agent you contacted will call you once you arrive, and if you are carrying a foreign mobile, this will cost you approximately £1 a minute, eventually costing you (and them) a considerable sum.

However, if you have built up a rapport with either one, or a couple of agents via email or telephone before you visit Spain, by the time you arrive, they will (or should have) a very good idea of what you are looking for and will have built a portfolio of suitable properties to show you. Many people complain that they send requests for further information to agents who either don't bother to reply- send details of a totally different property way out of their budget - don't fully answer their queries etc.etc. If this is the case, move on to another agent. Work with an agent that has time for you and all your queries. By the time you arrive in Spain, it is advisable to have your viewing schedule arranged and appointments set up with just a couple of agents.

Unfortunately, we often find that having spent weeks, or even months, corresponding with clients, answering queries and sending property details, arranging viewings and booked all the appointments - the client arrives in Spain, look in Agents windows/meet other agents/meet friends who know someone who knows someone.....and never turn up for the viewings.

Our working life invariably involves a 7 day week with long working hours, and it is not true that we all earn fortunes and drive expensive BMW's! Although we appreciate that clients on a weeks viewing trip do not have time to waste - neither do we, so on behalf of all hard working estate agents in Spain - please clients, let us know in advance if you wish to cancel your appointments. :)