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had an email with the usuall list of properties for sale but noticed the old language is creeping back
things like
superb price
extreamly cheap
super bargin
unbeatable value
real bargin
If they are so great why are they on the market they should of been snapped up by all those investers giving the estate agents a brown envelope for the heads up 😆You can’t blame estate agents for being estate agents. It’s up to each one of us to see through the BS.
The trouble is Mark most people believe the hyperbole and cannot or don’t want to see through it. They then end up in trouble as a consequence.
I don’t believe in over regulation of markets but in this instance exceptions should be made. Property is probably the biggest purchase anyone makes in a lifetime and the quality of advice from agents crucially should be accurate, honest and impartial.
Estate agents are not controlled or regulated sufficiently in Spain. Anyone can set up as one and start trading without qualifications or any vetting procedure. They are mostly simply used car salesman with all that meaning has. Their only concern is to shift stock.
It is high time the Spanish government followed the rest of Europe and controlled them. Insisting on appropriate academic qualifications and personal character vetting.I don’t believe in over regulation of markets but in this instance exceptions should be made. Property is probably the biggest purchase anyone makes in a lifetime and the quality of advice from agents crucially should be accurate, honest and impartial.
A simple solution for many purchases is to strongly regulate lending by banks, limiting their ability to make risky loans.
I know that the banking industry is not responsible for all of the real estate industry’s problems, but banks are the hub of this ‘universe’ and imposing accountability and regulation would have a positive and corrective cascading effect throughout the RE industry.
Who would want an agent that writes “Crappy property for sale! To expensive but if you are naive you probably think its a good price”? You can’t blame agents for using rosy words etc but you can ofcourse joke about it. I did myself when I worked in that market. You should however not have to worry about the agent lying to you about objective facts and also do what one can expect of them.
Gary that’s what happens when banks are allowed to lend out money that they don’t have with no personal risk.
I agree there should be some regulation but I never believe anything an estate agent says….in any country. Just the same as in any shop when considering a purchase, they are in business to sell, they aren’t your NBF.
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