Same house, different price??

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This topic contains 7 replies, has 5 voices, and was last updated by Profile photo of Anonymous Anonymous 10 years, 2 months ago.

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  • #52264
    Profile photo of Anonymous
    Anonymous
    Participant

    Hello all, I’m farily new to the site but is it right that a house can be listed at different prices with different agents? If this is the case are there any checks you can do to ensure that you are not buying at the highest price? This just happened to a friend of mine in Cyprus??
    Thank you!

  • #65905
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi Bopsy

    what tends to happen here in Spain is that the agents ask the client how much they want – the seller then gives them their estimation of the value (usually way over the odds) and the agent adds their commission on top.

    Different agents charge different rates and some may be 3% others 6% (others even more) and therefore the same house can go for much higher price depending onthe agent you use

    How do you ensure that you pay te lowest price – shop around. If you look at enough estate agents windows in a town you will find that they all have pretty much the same houses on their books (certainly here they do anyway) so determining the price is not difficult. Also a search on the internet will usually throw up the same house with other agents too.

    I recently saw a townhouse advertised on Think Spain – recently – with two agents. One had it for 108,000, the other for 98.000. Supposing the second only charged 3% commission that means the first was making 13% commission.

    Also a lot of agents use 3rd parties – they will list another agents properties and add their commission on top. The easiest way is to ask an agent how much commission they charge, they have to tell you, in writing, exactly how much they charge, how mcuh IVA is being charged etc.

    Best wishes

    Vince

  • #65906
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi Bopsy

    what tends to happen here in Spain is that the agents ask the client how much they want – the seller then gives them their estimation of the value (usually way over the odds) and the agent adds their commission on top.

    Different agents charge different rates and some may be 3% others 6% (others even more) and therefore the same house can go for much higher price depending onthe agent you use

    How do you ensure that you pay te lowest price – shop around. If you look at enough estate agents windows in a town you will find that they all have pretty much the same houses on their books (certainly here they do anyway) so determining the price is not difficult. Also a search on the internet will usually throw up the same house with other agents too.

    I recently saw a townhouse advertised on Think Spain – recently – with two agents. One had it for 108,000, the other for 98.000. Supposing the second only charged 3% commission that means the first was making 13% commission.

    Also a lot of agents use 3rd parties – they will list another agents properties and add their commission on top. The easiest way is to ask an agent how much commission they charge, they have to tell you, in writing, exactly how much they charge, how mcuh IVA is being charged etc.

    Best wishes

    Vince

  • #65907
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi Bopsy

    what tends to happen here in Spain is that the agents ask the client how much they want – the seller then gives them their estimation of the value (usually way over the odds) and the agent adds their commission on top.

    Different agents charge different rates and some may be 3% others 6% (others even more) and therefore the same house can go for much higher price depending onthe agent you use

    How do you ensure that you pay te lowest price – shop around. If you look at enough estate agents windows in a town you will find that they all have pretty much the same houses on their books (certainly here they do anyway) so determining the price is not difficult. Also a search on the internet will usually throw up the same house with other agents too.

    I recently saw a townhouse advertised on Think Spain – recently – with two agents. One had it for 108,000, the other for 98.000. Supposing the second only charged 3% commission that means the first was making 13% commission.

    Also a lot of agents use 3rd parties – they will list another agents properties and add their commission on top. The easiest way is to ask an agent how much commission they charge, they have to tell you, in writing, exactly how much they charge, how mcuh IVA is being charged etc.

    Best wishes

    Vince

  • #65908
    Profile photo of Melosine
    Melosine
    Participant

    All to common Bobsy. The difference is the agents mark up !!! But we have already been down that route.
    Only check you can do is to try and see which agents are selling and hopefully find the cheapest or if you know where the propery is attempt to buy direct from the owner.

    Ask what commision the agents are charging before you proceed then double it as many charge both parties and you will then know the true cost of the property.

  • #65910
    Profile photo of Anonymous
    Anonymous
    Participant

    Thanks Vince and Melosine

    I’ll keep them peeled as PC Plod would say 😆

  • #65911
    Profile photo of Anonymous
    Anonymous
    Participant

    On the same theme I have seen properties listed by a company that spent several days on the forum recently discussing and debating their new commission structure, the properties were dearer than their competitors by at least 2%, I suppose we have to give them the benefit of doubt perhaps the cheaper agent is selling them gratis. 😉

    Jim

  • #66036
    Profile photo of Anonymous
    Anonymous
    Participant

    at the end of the day the agent is providing a service and getting the property noticed and then sold, whatever you sign up to is your own destiny, the agents don’t work for nothing do they?

    cliff

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