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