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Advice re Estate Agents

Posted: Wed Jun 1, 2022 11:56am
16 replies506 views10 members subscribed
Susan 66

Posts: 4

2 helpful points

Location: La Zenia

Joined: 5 May 2022

Hi all

We are looking to purchase a property in Spain (around Costa Blanca area) my question is :

Would it be the norm to work with a few estate agents or would it be best to work with just one agent, my understanding is that "each estate agent can show you properties from each others portfollio".  We have seen a few properties which we would like to view but they are with different agents.

Any advice would be welcomed.

Thanks in advance.

tebo53

Posted: Wed Jun 1, 2022 12:03pm

tebo53

Legendary helpful member

Posts: 4777

4960 helpful points

Location: Benidorm

Joined: 29 May 2018

Posted: Wed Jun 1, 2022 12:03pm

Susan 66 wrote on Wed Jun 1, 2022 11:56am:

Hi all

We are looking to purchase a property in Spain (around Costa Blanca area) my question is :

Would it be the norm to work with a few estate agents or would it be best to work with just one agent, my understanding is that "each estate agent can show you properties from each others portfollio".  We have seen a few properties which we would like to view but they are with different agents.

Any advice would be welcomed.

Thanks in advance.

You are within your rights to use as many estate agents as you like. You won't be tied to any until you make a decision on your property. The general advice is never to use the solicitors offered or suggested by the estate agents but to find your own solicitor. 

Steve 

Susan 66

Posted: Wed Jun 1, 2022 12:13pm

Susan 66

Original Poster

Posts: 4

2 helpful points

Location: La Zenia

Joined: 5 May 2022

Posted: Wed Jun 1, 2022 12:13pm

tebo53 wrote on Wed Jun 1, 2022 12:03pm:

You are within your rights to use as many estate agents as you like. You won't be tied to any until you make a decision on your property. The general advice is never to use the solicitors offered or suggested by the estate agents but to find your own solicitor. 

Steve 

Hi Steve

We have already chosen an independent lawyer to work with.

Thanks for the advice re estate agents, would you say then it is not the case that each estate agent has access to all the available properties?

I was wondering if, as in America, estate agents can show each other properties but they earn a higher commission on properties they sell within their own portfolio.?

Thanks

tebo53

Posted: Wed Jun 1, 2022 12:24pm

tebo53

Legendary helpful member

Posts: 4777

4960 helpful points

Location: Benidorm

Joined: 29 May 2018

Posted: Wed Jun 1, 2022 12:24pm

Susan 66 wrote on Wed Jun 1, 2022 12:13pm:

Hi Steve

We have already chosen an independent lawyer to work with.

Thanks for the advice re estate agents, would you say then it is not the case that each estate agent has access to all the available properties?

I was wondering if, as in America, estate agents can show each other properties but they earn a higher commission on properties they sell within their own portfolio.?

Thanks

I not heard that estate agents have access to all the properties on sale but anyone selling their property often use several agencies to advertise and it could give the impression they offer other agencies properties. I Don't think that it's the same system as the UK where you are tied to one agency. 

Steve 

Kimmy11

Posted: Wed Jun 1, 2022 1:08pm

Kimmy11

Legendary helpful member

Posts: 6869

12554 helpful points

Joined: 8 Aug 2017

Posted: Wed Jun 1, 2022 1:08pm

Susan 66 wrote on Wed Jun 1, 2022 12:13pm:

Hi Steve

We have already chosen an independent lawyer to work with.

Thanks for the advice re estate agents, would you say then it is not the case that each estate agent has access to all the available properties?

I was wondering if, as in America, estate agents can show each other properties but they earn a higher commission on properties they sell within their own portfolio.?

Thanks

Hi Susan 66,

It's not accurate to say that all estate agents have access to all available properties, but many will tell you that.  Many agents do cultivate good relationships with other agents and will share the commission if they sell each other's properties (as was the case when we bought our house).  However, agents don't typically like to share commission and if you only work with one, you'll likely only see the properties where they are the sole selling agent.

From my own experience, I would say that it comes down to who you're comfortable to work with.  I contacted at least 10 agents: a couple didn't respond at all, some responded but never followed up, one appeared to be very responsive, even arranging a couple of viewings on properties we thought were their listings, only to find that when we went to their office at the pre-arranged meeting time, the agent wasn't there and a colleague in the office said the properties were sold anyway!  We made 4 viewing trips from the UK of no longer than 5 days each time, so needed agents who were focused on what we wanted.  I'd highly recommend spending time on the phone with a selection of agents, or visit their offices if you're already in Spain.  We did viewings with 3 of the agents, but whittled it down to the one who listened to what we both wanted and always did what she said she was going to do.  Ultimately, she found the perfect property for us, which wasn't on the main Spanish property portals, Idealista and Kyero, because the primary selling agent only advertises on their own website. 

I'd also say to be aware of "property finders" - many have low overheads, because they don't have offices, but as the buyer you may not get a good deal.  Friends of mine used one and paid at least €30k more than they needed to have done and discovered months later, through the vendor's brother, that the property finder took that amount as commission, with the vendor receiving considerably less than my friends thought was the list price.  I'm sure the property finder would say that the vendor received an amount they were content to accept and the buyer was happy to pay that amount, but ultimately, they both felt duped.

If you're happy to share the type of property that you're looking for and in which areas, members may be able to recommend good agents - as well as those to avoid.

Kind regards,

Kim

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Susan 66

Posted: Wed Jun 1, 2022 1:24pm

Susan 66

Original Poster

Posts: 4

2 helpful points

Location: La Zenia

Joined: 5 May 2022

Posted: Wed Jun 1, 2022 1:24pm

Kimmy11 wrote on Wed Jun 1, 2022 1:08pm:

Hi Susan 66,

It's not accurate to say that all estate agents have access to all available properties, but many will tell you that.  Many agents do cultivate good relationships with other agents and will share the commission if they sell each other's properties (as was the case when we bought our house).&...

...nbsp; However, agents don't typically like to share commission and if you only work with one, you'll likely only see the properties where they are the sole selling agent.

From my own experience, I would say that it comes down to who you're comfortable to work with.  I contacted at least 10 agents: a couple didn't respond at all, some responded but never followed up, one appeared to be very responsive, even arranging a couple of viewings on properties we thought were their listings, only to find that when we went to their office at the pre-arranged meeting time, the agent wasn't there and a colleague in the office said the properties were sold anyway!  We made 4 viewing trips from the UK of no longer than 5 days each time, so needed agents who were focused on what we wanted.  I'd highly recommend spending time on the phone with a selection of agents, or visit their offices if you're already in Spain.  We did viewings with 3 of the agents, but whittled it down to the one who listened to what we both wanted and always did what she said she was going to do.  Ultimately, she found the perfect property for us, which wasn't on the main Spanish property portals, Idealista and Kyero, because the primary selling agent only advertises on their own website. 

I'd also say to be aware of "property finders" - many have low overheads, because they don't have offices, but as the buyer you may not get a good deal.  Friends of mine used one and paid at least €30k more than they needed to have done and discovered months later, through the vendor's brother, that the property finder took that amount as commission, with the vendor receiving considerably less than my friends thought was the list price.  I'm sure the property finder would say that the vendor received an amount they were content to accept and the buyer was happy to pay that amount, but ultimately, they both felt duped.

If you're happy to share the type of property that you're looking for and in which areas, members may be able to recommend good agents - as well as those to avoid.

Kind regards,

Kim

Hi Kim

Thanks very much for the information it was very helpful and answered all my questions!

So therefore, we would like to ask for recommendations for estate agents, we are looking to buy area of Ciudad Quesada and within approx 10 miles.  So any personal recommendations for estate agents which cover this area would be much appreciated.

Thanks

Susan

Peter3473

Posted: Wed Jun 1, 2022 5:31pm

Peter3473

Very helpful member

Posts: 988

900 helpful points

Location: Torrevieja

Joined: 21 Oct 2019

Posted: Wed Jun 1, 2022 5:31pm

I used Solar berna estate agents Torrevieja in 2019 who worked in conjunction with other companies and would share commisions, I just supplied information to solar berna of properties I wished to view, and 9/10 properties were shown, others were sold? although still advertised, although in the end I used another estate agent, I used solar berna to act on my behalf = power of attorney, and I completed my purchase with-in 6 weeks, no problems at all at the time, but when I asked for power of attorney to be withdrawn it has taken some time with their yearly fees? I can recommend Solar Berna Abogados & Inmobiliaria and hopefully Rosana still works for them = estate agent and Alexandria Solicitor, excellent service and speak English. Good luck.

Adge

Posted: Wed Jun 1, 2022 11:19pm

Posts: 52

7 helpful points

Location: Algorfa

Joined: 28 Dec 2019

Posted: Wed Jun 1, 2022 11:19pm

Ask for Zoe. Very transparent and helpful and can highly recommend. If you do contact her tell her Adrian told you to get in touch 👍


https://www.spainpropertyspecialists.com/

Kimmy11

Posted: Thu Jun 2, 2022 12:31am

Kimmy11

Legendary helpful member

Posts: 6869

12554 helpful points

Joined: 8 Aug 2017

Posted: Thu Jun 2, 2022 12:31am

Susan 66 wrote on Wed Jun 1, 2022 1:24pm:

Hi Kim

Thanks very much for the information it was very helpful and answered all my questions!

So therefore, we would like to ask for recommendations for estate agents, we are looking to buy area of Ciudad Quesada and within approx 10 miles.  So any personal recommendations for estate agents which cover this area would be much appreciated.

Thanks

Susan

Hello again Susan,

As your area of interest is Ciudad Quesada and its surrounds, you may find CBF's sister forum, TalkQuesada, is also helpful for you:

https://www.talkquesada.com/

Kind regards,

Kim

Davebev1

Posted: Thu Jun 2, 2022 8:45am

Davebev1

Legendary helpful member

Posts: 1560

2200 helpful points

Location: Playa Flamenca

Joined: 7 Nov 2017

Posted: Thu Jun 2, 2022 8:45am

Despite the claim that all agents show each other's properties, there are several who wont allow others to show theirs and, if you think about it, any agent would be financially hurting themselves to promote one they haven't listed as less commission for them.  

Location is the first things to decide - once you know where you want to be visit local agents and drive around the area to look for private sale signs or signs for agents not in the same town too.

Second is to sign up with a local INDEPENDENT lawyer, and make all your financial transactions via your lawyer only. 

Remember that as soon as you contact an agent they will consider you their direct client and refuse other agents to show them their properties even if they do property share usually (and, as I said, some never do anyway), so don't restrict yourselves - this is a big investment and you need to get the best property for you.

Having said that, don't go out with ten different agents looking at all and sundry.  Make your requirements list out in writing, the things that are non-negotiable such as number of bedrooms, location, having a pool, proximity to beach/shops etc; then things that are desired but not essential; and finally list all absolute no-goes, which could be road noise, orientation, lack of outside space etc.  This is about what matters to you in a property, not what the agent wants to show you.  Make those things known to the agent.  You can refuse to look at anything, you are not obliged to go inside if you have said not on a main road and it is on a main road etc.  Better to look at 5 properties that meet your criteria than 30 properties which don't.

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