Estate agents - Page 3

RichT wrote on Wed Apr 21, 2021 11:37am:

It's Market forces...

Estate agent needs €45,000pa to pay for his advertising, rent an office and pay himself. If the market is slow and he can only sell 10 properties per year, then he needs €4,500 per property commission. If the average sale price is €150,000 then he needs to charge 3%. If the market is active...

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... and he can sell 20 properties per year, with higher average sale prices, then he can charge a lower commission (or just make more money!).

In the UK, commissions used to be 1.5% - 3%, but an increase in sales prices, combined with increased competition has driven commissions down to 0.75% and some 'internet only' agents are offering fixed price offers of £999 or even £750.

Bob1 wrote on Tue Apr 20, 2021 8:27pm:

So it cost you nearly 40 grand on top of your house price. That’s disgraceful really. I had no idea the Spanish tax man was so greedy. Thanks for that info.

Bob1 wrote on Tue Apr 20, 2021 11:35am:

Can anyone recommend a reasonably priced estate agent. I saw one advertised that charged 5% on a sale. On a €200,000 house that’s €10,000. Ten grand to sell a house!! That’s outrageous. Any advice? Thank you

rma44 wrote on Sun Apr 25, 2021 12:17pm:

You shouldn't be paying more than 3%, but the way it's done in Spain is very different to the UK. In Spain, the agent will take prospective purchasers to your house and do the 'selling'. In the UK they usually phone you up to say someone will be calling round and you have to sell kit yourself!

Factor in all your costs before doing anything is my advice, and remember the total you paid when you bought the property!
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