Happened when we were buying, the place we bought was up with a few agents with 40,000E between them all, the ones with it at a higher price were British and Spanish and the ones that were the least were German, not enough of a sample to call it a trend I know, but says it all for me!
It really does pay to spend hours and hours on the web when you have found a place or narrowed your search to a few properties to see if you can see it cheaper, this is after you have looked at them on the ground
One of the reasons this can happen is that the price of the property may have been reduced. Some agents just copy from other agents websites so may not have been informed of the price reduction. Surely in todays market some agents are not crazy enough to overinflate a price! I don’t think this happens very much on the coast, mainly British agents(not sure of the correct word here) in the campo.
The worst examples I have seen have been inland, and I know of one agent who just pockets the difference, nothing to do with reductions in prices, just a simple rip off. It does happen on the coast too, but I could be down to reductions not flowing through to all agents.
Sure the vendors have responsibility too, but I know that some agents do add exorbitant markups. I found one agent asking 150K for a house, shortly after, I coincidently met the seller, she was getting 100K!!! 50K commission for the agent.
In addition, a friend of mine used to be an agent, and he confirmed that this practice was commonplace.
When we bought out last house (over 10 years ago) I would receive calls from time to time re. wanting to view the property. It was on some websites 3 years after we purchased it. By then (boomtime) it was looking pretty cheap! It is just kitchen sink agents, keep away from them.
What about price differentials between identical apartments in the same complex. For a property I sold last year, I can now see that of the probably 30+ apartments that are trying to be sold, the prices range from 128k to 200k!! And the adverts are current as they expire every 4 weeks so the advertiser has to renew the listing.
(I repeat these are Identical apartments 😯 )
Anything above a few k from that botton price and the owner may as well not bother trying to sell.
Well, I have to hold my hands up and say I am the cause of the problem here. Mea Culpa! There is nothing fishy or dishonest going on. Rather this post shows how quick off the mark the poster was and reflects the state of the property market in Spain just now.
My main site, http://www.tickle-international-property.com is up to date and a number of other sites are updated automatically from the main site by what is called an XML feed. In this case I was notified of the price change on Tuesday last week and the amended details went out in my news letter the next day. It could take a week for this to reach the sites receiving the XML feed. That shows how quick off the mark the poster was.
Other sites are updated manually. 2 years ago we would have worked to the speed of an XML feed. Today the staff have gone and we update as and when. Having said that anyone who made an enquiry from one of these sites would be directed to the current link and the updated price. The issue here is that the ads we are talking about tend to be old and the problem arises when details, particularly asking prices, change frequently. This is a major problem for me because no agent likes to be advertising a house at a higher price than the competition.
The other sign of the times is that there are sites we may have listed on in the past that we can no longer access. The owners have given up on them in some instances. I have also seen my properties on sites I no longer subscribe to where the owner sends the enquiries to other parties. One major web site didn’t completely delete a property when I deleted it from their database. It didn’t show up on searches, but if you searched on the name the link was there. This is presumably to maintain good Google rankings to avoid “broken links”.
Then of course we have the people who simply “scrape” other people’s listings.
Finally with regard to the person who’s house showed on web sites long after he bought it, I have to say that whilst sellers are quick to chase agents to put their ads on line they are much less interested in telling us when the house is sold. Usually we only find out when we try to arrange a viewing. With less popular houses that can be a long time!
I hope this clarifies the position in this case at least.
Before John gets het up about this again, the owners of this house have just dropped the price, this time to 150,000 Euros. My site has been changed today, the rest will follow in due course. But you heard it here first!
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