June 25, 2017 at 8:24 pm #213490
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?
August 13, 2017 at 12:05 pm #214836
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.
August 22, 2017 at 9:17 pm #214986
Great comments – thank you all
August 22, 2017 at 6:47 am #214973
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.
August 22, 2017 at 9:17 pm #214987
thanks for the comments
December 13, 2017 at 1:22 pm #218858
These are some great comments above.
Obviously if you want to become a Real Estate Agent in Spain there will be different things you need to consider (especially if you are from a different country).
Spanish Property Law
First thing to do is your research on all Spanish property laws, different parts of Spain have different Real Estate regulations. Some areas such as the Balearic Islands have stringent regulations whereby a special licence is required to rent property.
Target the right people
Depending on what property you are planning to sell will determine who you are targeting.
Research your chosen location to operate in to find out what kind of properties sell the best. There’s no point selling property that no one wants.
The Spanish real estate market is highly competitive, Spain is the number one destination for European holiday goers, meaning that there is a lot of demand for property and new developments.
Get seen online
Because 95% of people now search online for property it might be a good idea to make sure you have an exceptional website, this will ensure you can generate enough leads and help you get ahead of the competition!
So to answer your question, be prepared, target the right people and get seen online. If you manage to do this, it wont be as difficult as it could be to start a real estate agency in Spain.
December 14, 2017 at 3:26 pm #218889
Thanks – good comments
January 7, 2018 at 11:47 am #219187
A good way to get started is to use Trovimap.com to generate seller leads. Tens of thousands of homeowners do a property valuation on Trovimap each month, and many of them seek advice from real estate professionals to refine the valuation before sale. https://www.trovimap.com/professional
June 7, 2018 at 8:28 am #226254
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