Reply To: Abusive Agent’s Commissions

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Anonymous
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In Spain we do have rogue agents and equally rogue lawyers and for that matter just about every other type of profession that all give their professions bad names.

I am an agent and have never charged more than 5% commission and in many instances have reduced this considerably to make sales happen.

I am transparent about my fees if a buyer asks I tell them.

The sales people working for me get a proper wage a car and fuel card and commission equal to what the commission only sales men get, this takes away the desperation seen with many of the rogue agents along the coast and gives a better service to our clients.

We do not charge for after sales service like Parador and cannot believe anyone can justify this, after sales service should be provided no matter what commission is charged and this ultimately is what the commission is for in the first place.

I stopped selling off plan properties two years ago because you didn’t need a crystal ball to see the problems stacking up.

Today we have over supply of over priced properties all back on the market at the same time and all looking for new owners before that ever looming date with the Notary.

Most of the people that bought these so called investments believed the sales pitch of the agents because it was what they wanted to hear big profits quick return etc.

I know many people who came to me 18 months ago and didn’t like what I said to them which was keep your money, don’t buy off plan or to buy a resale in a good location i.e. beach front that you can always sell on if need be, they then went on to buy off plan via other agents and today are the proud owners of an off plan investment that they soon have to complete on which was the one thing they never intended to do and in some cases don’t have the finances to complete.

I get emails or phone calls everyday from people who have been conned this way looking for someone, anyone to sell on their contract just to get their money back.

I had a very sad conversation from a lady a few months ago who had originally been looking for a holiday home of her own that was ready to move into,
after being qualified by the agent, no names mentioned she was given a nice trip along the coast in a nice clean BMW to view off plan investments and eventually talked into buying 3 not 1 or 2 but 3 off plan apartments, she was told that she would not need to complete on any and if she wanted the agent would sell 2 of the properties on within a year making enough profit to pay for the third, we all now the outcome and this lady cannot afford to make any more payments she just does not have enough money left.

I could be sat on a nice big yacht somewhere in the Caribbean if I was a rogue agent, but I prefer to sleep at night and can honestly say I have never ripped anyone off, I and the sales people who work with me give our honest opinion of properties and developments with the buyer in mind.

I do work longer hours than most people I come across, but in return I make a good living and I am more than happy with my lot.

I do however get upset with all the flack given to estate agents in Spain because we truly are not all the same.