Ah yes, the Spanish Property Agent. Considering that according to my profession I am one, I need to be careful here. There are hundreds of really trustworthy knowledgable real estate agents in Spain. Unfortunately there is an equal if not greater number inefficient and in some cases, plain old fraudulent sellers too.
There are two main problems- a lack of an enforceable code of conduct amongst Spanish real estate agents and the obvious amount of commission available can in many cases leave buyers of Spanish property vulnerable to fraud.
The most dangerous sellers bar none, is the broke sales agent. Buyers often feel sorry for these guys trying to make enough money to pay for the rent and fail to consider exactly why they are broke. If these guys absolutely must make the sale, do you think they will give you the best advice or rather sell you what suits them best? Think about that.
So what are the characteristics of the rogue agent? If your seller drives an english reg car, run a mile away. Don’t even let him drive you back to the hotel- make your own way home. Is he not sticking around Spain long enough to get a Spanish car? Is he more interested in his own image than your well being? Also think “Broke agent” and the dangers of that.
Next- Bald guys with tattoos- actually no, lets not go there.
Gold is a great investment these days and a great hedge against inflation. If a sales person feels the need to wear their gold in the form of sovereign rings, necklaces (especially male sellers), ear rings (again, especially males), or bracelets, be careful. Don’t even give him/her time to explain their swallow tattoo and go find yourself a Real Estate professional. You can also replace gold and or tattoos with fake tan, inability to remove their Raybans and crocodile leather shoes… Runaway.
Estate agents in Spain can make outlandish promises. My favourite is from the auction houses springing up all around Spain. “Pay me 200 euros and i’ll sell your home.” I would rather pay double or triple when they sell my house. Paying up front gives the seller very little incentive to get me a good price.
Closely related to “pay now, sell later” is the increasingly popular 0% commission. Perhaps the agent has realised exactly what their services are worth or more likely there is a hidden cost somewhere.
I never mind a salesperson earning a fair commission, so why tell me you work for free?
So is there a full proof way to know you are dealing with a reputable seller? Well, not really. Ask the questions though- do you pay tax?
Do you or your company own your office? Do you have kids in school in Spain or are the back in Norway, England or wherever.
Remember how i started this article- we are all sale people. Why not come and speak to a reputable agent here in Spain if you are buying or selling a property. We can be your agent and you can be assured the rest of the transaction will fall into place. www.comaskey.com
For more advice please contact us at [email protected]
There are two main problems- a lack of an enforceable code of conduct amongst Spanish real estate agents and the obvious amount of commission available can in many cases leave buyers of Spanish property vulnerable to fraud.
The most dangerous sellers bar none, is the broke sales agent. Buyers often feel sorry for these guys trying to make enough money to pay for the rent and fail to consider exactly why they are broke. If these guys absolutely must make the sale, do you think they will give you the best advice or rather sell you what suits them best? Think about that.
So what are the characteristics of the rogue agent? If your seller drives an english reg car, run a mile away. Don’t even let him drive you back to the hotel- make your own way home. Is he not sticking around Spain long enough to get a Spanish car? Is he more interested in his own image than your well being? Also think “Broke agent” and the dangers of that.
Next- Bald guys with tattoos- actually no, lets not go there.
Gold is a great investment these days and a great hedge against inflation. If a sales person feels the need to wear their gold in the form of sovereign rings, necklaces (especially male sellers), ear rings (again, especially males), or bracelets, be careful. Don’t even give him/her time to explain their swallow tattoo and go find yourself a Real Estate professional. You can also replace gold and or tattoos with fake tan, inability to remove their Raybans and crocodile leather shoes… Runaway.
Estate agents in Spain can make outlandish promises. My favourite is from the auction houses springing up all around Spain. “Pay me 200 euros and i’ll sell your home.” I would rather pay double or triple when they sell my house. Paying up front gives the seller very little incentive to get me a good price.
Closely related to “pay now, sell later” is the increasingly popular 0% commission. Perhaps the agent has realised exactly what their services are worth or more likely there is a hidden cost somewhere.
I never mind a salesperson earning a fair commission, so why tell me you work for free?
So is there a full proof way to know you are dealing with a reputable seller? Well, not really. Ask the questions though- do you pay tax?
Do you or your company own your office? Do you have kids in school in Spain or are the back in Norway, England or wherever.
Remember how i started this article- we are all sale people. Why not come and speak to a reputable agent here in Spain if you are buying or selling a property. We can be your agent and you can be assured the rest of the transaction will fall into place. www.comaskey.com
For more advice please contact us at [email protected]
