Buying a Spanish Property - To Use An Agent Or Not
To use an agent or not.
The big question.
As many have learnt the hard way - there are agents in Spain who
will willingly take you for a ride - and it tends to be the
bigger and well known foreign agencies that are the worst (the
very ones who say you can trust them). So in this jungle is it
worth using an agent to buy your Spanish Property or is it worth
going on your own?
There is no doubt that an agent can be of great assistance if
they know their area and should be able to help you narrow down
your search to a few specific properties. Ideally they should
sit with you a while and endeavour to discover your real
requirements for your house. But this boils down to much more
than how many bedrooms a house has and if it has a pool or not.
For example you may see your dream house in a photo, and the
agent takes you to view it, but after talking to you he/she
discovers that one of you doesn't drive. The house may be
perfect but the area is miles from anywhere. Clearly then going
to see such a property would be a waste of your time.
You can rest assured that if you visit 10 agents at least 9 of
them would take you to see this house. The sad fact is that most
agents aren't really concerned about your needs, only whether
you buy a property from them or not, so you may end up being
shown many houses that really don't fit the bill. You will feel
frustrated, dejected and probably begin to think that your dream
home doesn't exist.
They may have nothing better to do with their days (and in
today's slow market it is probably a welcome relief to be
showing houses than sitting in their office drinking coffee).
But do YOU really want to be trailing around houses that do not
meet your basic needs let alone your implied needs.
Also some agents put you under inordinate pressure to buy and
some (like my now friends who bought by a main road) are
pressurised into buying something not suitable for them. Don't
ever be pressurised by anyone. If you don't feel comfortable
with a viewing for any reason - politely say so and exit.
I once asked to see apartments within 200M of the beach and was
shown a town house 20 minutes inland (that's 20 minutes drive
inland). When I asked why we had come to see it I was told that
it was a lovely house. No doubt it was but it wasn't what I
asked for. Needless to say we went back to the car park to pick
up my car amid protests from the agent that he had some really
nice properties to see.
Your time is important and you need to utilise it very
carefully. A good agent on the other hand, is worth his (or her)
weight in gold. They will help you through every step of the way
and guide you through the minefield and ensure you get the best
property to suit your needs. At the very least they will try and
understand you as a person/family and try to ensure that they
match you with an ideal property. It shouldn't stop there
though. A good agent will also help you long after the ink has
dried - easing you into your new life, helping you locate
schools, buying cars finding tradesmen and much more.
How do you find a good agent?
Finding bad agents is easy. Finding mediocre ones equally so. So
how do you pick out the good from the bad? The easiest way is to
ask questions. Many people advocate only using agents who have
API membership - this is the Spanish Estate Agents association
(or one of them). However whilst current membership extends
certain safeguards on the client, not all API registered agents
are still registered. Equally not all non registered agents are
bad. Wow what a battle - how do you judge?
Prepare a list of questions to ask them - the following is a
sample, but not exhaustive, list * How long have they been in
business * How many clients have they dealt with * What services
do they offer their clients both during and after the sale *
What commissions do they charge * Do they speak good Spanish (if
not how can they possibly operate in Spain) * Do they translate
all documents in English * Can you speak to some previous
clients
and anything else you deem important. Also ask in local bars
(specifically Spanish ones) who they would recommend - the
Spanish don't like estate agents and so will only give you
recommendations that they believe are good.
What about going it alone?
So let's assume you decide you don't want to use an agent. How
do you find a property yourself? In the Costa Blanca and the
Costa del Sol you will find many publications (CB News, Inland
Trader, Costa Del Sol News, Sur in English). However these are
English Language papers and so you will in the main be dealing
with English owners (a lot of whom have over realistic ideas as
to the values of their property). Also be wary because a lot of
agents advertise in the local papers in the lineage ads. Why -
It is cheaper to do so and a lot of people just go straight past
the main display ads for agents.
The internet is obviously a good source with sites such as
ThinkSpain.com and Kyero.com - but these tend to be mainly
agents advertising. In fact most of the properties advertised on
the internet are agents. You may find a few For Sale By Owner
type sites - but not many for the Spanish Property Market.
You can also pick up a copy of the local Spanish Papers (in the
Valencia region a great source is Levante). These have adverts
by Spanish People for property. You will find these
comparatively cheaper than similar properties in the English
Speaking Press.
You could also drive out to the areas you would like to live in
look for Se Vende Signs (for Sale), ask at bars, in streets and
anywhere (obviously this requires a knowledge of Spanish) but
you would be surprised how many properties are up for sale but
not advertised - there is a great jungle telephone system
working out here. Many a time I have asked about property for
sale to be told that neighbours have properties for sale - and
the prices being asked are considerably less than you find in
the estate agents.
Finally you could locate a buyers agent who would only act on
your behalf. Be wary though many so called buyers agents are
really just estate agents or collaborators who use the term to
lead the buyer into thinking they are working for them. If it is
a true buyers agent you should be paying their commission not
the seller (or their agents)
So If you choose to go it alone make sure you do your homework -
locate your area first then locate your property.
To use an agent or not? If you find the right one they can make
the process so much easier. There are a few good ones. There are
also many who have the best intentions but don't really know
their right hand from their left, and there are others who will
rob you blind if you let them But if you have no other option
then just make sure you choose wisely.