How easy (or difficult) is it to start a real estate agency business in Spain?

This topic contains 4 replies, has 3 voices, and was last updated by  bc1050 3 months ago.

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  • #213490

    bc1050
    Participant

    From what I have seen there are a lot of agencies out there but the level of professionalism is questionable in many of them.

    If I set up a quality website, subscribe to the local MSL for listings, invest in getting my website up google rankings, develop the brand and provide a quality service to clients could I make a living doing this in Spain amongst all the other agents out there?

    The alternative would be to start with a franchise that could make it easier but at a cost and % of any business.  Would be interested to hear others thoughts on this?

  • #214836

    Christopher C.
    Participant

    This is a very good question and a lot of the answer depends on many variable factors:
    1. Have you had real estate experience before?
    2. What city do you live in, and what is the competition like?
    3. Do you speak Spanish?
    4. Are you aware of the myriad of laws and regulations you will have to company with to work legally? For example
    a. Complying with the norms of the regional government with respect to offering real estate for sale (i.e., documentation required for new and resale properties).
    b. Complying with the condifendiakity laws
    c. Complying with the anti-money laundering laws (prevención de blanco de dinero) with respect to both buyers and sellers)
    d. Labor laws
    e. Special requirements for energy certificates and for certificates of owners allowing for short term rentals
    f. Many more norms and laws too numerous to mention.

    Of course many so called agents do not fully comply with the above but still manage to survive, and some, even prosper, creating thereby unfair competition for those who do comply with all the requirements. Many limit themselves to offering new properties, where they avoid a lot of work since the sales office personnel takes over when the agent brings a client.

    5. Do you realise there is no effective MLS in Spain? So how do you offer other agents’ listings? You have to sift through the other agents, meet them, see their listings and the quality of work they respresent, and decide who you want to work with…who you can trust to work with. There will always be some great agents out there.

    6. If you are self-disciplined, and if you want to work very hard, you can succeed in real estate as most other things you might decide to do. You have to have money to set up and take you through the first months to get on the ground, you have to learn the business backwards forwards upside down. It has to be more than “I just want to make money”, it has to become a passion in serving others in the field of your speciality, very difficult to do for someone without experience in the field. Subscribing to Dirk Zeller’s Real Estate Champions newsletter and buying some of his courses will help. But prudence would probably indicate that you obtain intimate knowledge of the area you propose to set up shop, all the new promotions, all the residential areas, compare prices, study carefully about the art of selling real estate and then when you are prepared, choose the best agent in your area and hipnotize the agent into hiring you where you will learn the ins and outs of the business within two or three years to then set up your own shop, increasing dramatically your potential for success.

    • #214986

      bc1050
      Participant

      Great comments – thank you all

  • #214973

    Inland Andalucia
    Participant

    We can’t say it is easy as well as difficult. You just need to work and setup carefully. You need to have a license if you have premises. This license comes from the town hall. You will need to advertise heavily to find new property listings and the internet will be your best source of inquiries, along with a shop window. Your website will have to be good though to compete with the thousands that already exist.

    Thanks
    Inland Andalucia

    • #214987

      bc1050
      Participant

      thanks for the comments

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