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Well, we know Chris and Viva watch this forum along with other agents so let’s hope it doesn’t take too long to answer this very simple question, just an honest answer would do please!
It helps with one’s calculations to know, after all it’s is readily available from UK estate agents re property and it’s always been a bit of a closed shop in Spain.
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Angie
Our friends wanted to sell their property near Antequera. They approached Inland Andalucia who advertised their property with an agency fee of over 15%! Needless to say they soon said goodbye to IA.
A local Antequera company quoted them 2 – 3% which seems quite good in the circumstances. And the company produced better pictures for the website!
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I would never pay an agent upfront. The norm on the CDS is a 5% fee plus IVA. Some years ago Viva charged us around 7%, it depended on the property price. We were happy to pay it, excellent service. The last one slipped a bit as a couple of their Reps rang up on their way with clients and asked for directions! I do think if they are charging that fee the least a Rep could do would be to suss out and get to know a villas selling points. (was only a few minutes fron their office too)
Hermosa properties who advertise on here told my friend that the fee would be 5% but higher if she had to share the commission with another Agent!
My friends and I sold an apartment in Paris, the Agents really did fight to get your business. They came along and gave out a marketing plan detailing how they would go about selling it…all for 1.5% 😮
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@angie wrote:
Chris, what commission do Viva now apply to vendors asking prices, is it now transparent?
It would be good to know what other agents are now charging too!
Am mad busy just now, will try to come back to you later but I did post something about this on a previous thread.
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@angie wrote:
Chris, what commission do Viva now apply to vendors asking prices, is it now transparent?
It would be good to know what other agents are now charging too!
VIVA’s commission is 5% on all direct clients is my understanding.
There are some unusual occasions when 7% could be asked if another agent were requesting 5% and VIVA were receiving 2% but that is kind of rare, and is entirely up to the Vendor to accept as a special circumstance or otherwise.
Other agents are charging very much the same in most honourable cases but there are people asking 10% on the CDS and some as I think someone pointed asking 15% Inland of the CDS and heaven help us, some still look to the disgraceful practice of offering a net price and taking the amount over and above as their commission.
Very few people are truly transparent which is crying shame, and I understand on the Blanca things can get up around the 15-20% which I have never, ever understood.
As I think I have explained elsewhere however, VIVA’s return is likely to be somewhere between 3.2 – 3.6% on average across all sales in the year this year. And if they make a profit this year, it will be by the skin of their teeth quite frankly.
But then the VIVA team that exists today, is in it for the long term, always have been, and hopefully always will be. Which is why you won’t find Action Groups, or even Individuals damning them across the Internet.
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@laggen wrote:
Well Viva can market your property for you for an upfront fee of 995 Euros plus IVA, when,if?, they selll, I believe the commission is 5%.
Maybe Chris can fill us in?There is no upfront fee whatsoever, if you want a Marketing package including a full page in HOT Properties plus two further quarter pages, to be also emailed to the database, prominently featured on the website and circularised to all other agents, to be featured in the local press, have professional photography and be known by the VIVA team as a Vendor with real commitment and cooperation to sell, at a price for sale that you are willing to back by being a HP Vendor…
Then you can pay that fee, which is returned to you upon sale deducted from the commission, it is a helluva package and those Vendors are certainly beloved by the team, but it is not compulsory in terms of being a listing. Just good sense for certain people.
Gone are the days I am afraid where VIVA would have spent millions on its listing teams and HP from its own pocket, and probably a good job too. It is about quality not quantity these days, and spending time on what is a good property, not just every property.
Now, they partner effectively with Vendors who partner with them.
It’s not a bad system at all.
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2,5% plus iva clearly stated and always has been.
We do charge a fee, but then again you are entering an auction – never any pressure to do so, but if you do there are costs. UK auction houses charge an average of 500 sterling, we are from 232 euros inluding iva on a sliding scale depending on reserve price – again all clearly stated.
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So Mr Mccarthy, are you involved with Viva (La Viva, your Viva, whatever the name is now) or not? You seem to be up to speed with whats going on there but have previously denied any involvement. I know you like transparity!
Also, if a client does not want viva to promote their property on the web page and in the magazine, and does not want to have professional photographs done and does not want be known as a vendor with a real commitment to sell and does not want to be loved by the Viva team – what exactly would THEY get by listing their property with you (sorry with Viva)?
Just out of interest, what does it cost to be a “HP Vendor” -
@Man in Marbella wrote:
So Mr Mccarthy, are you involved with Viva (La Viva, your Viva, whatever the name is now) or not? You seem to be up to speed with whats going on there but have previously denied any involvement. I know you like transparity!
Also, if a client does not want viva to promote their property on the web page and in the magazine, and does not want to have professional photographs done and does not want be known as a vendor with a real commitment to sell and does not want to be loved by the Viva team – what exactly would THEY get by listing their property with you (sorry with Viva)?
Just out of interest, what does it cost to be a “HP Vendor”I have covered my involvement with the VIVA team on other threads and been as transparent as I can be about it.
I have never denied any involvement, I have always said that I support them, back them in everything they do, and will help them in any way I can, they are an incredibly committed and good group of guys and gals. I would do anything for them, unpaid and unofficial at this time, it is my time and energy and I am free to spend that where I will. So long as it doesn’t interfere with my life largely being in the UK now with my family.
As for listing, my understanding is that they won’t turn any interest from any Vendor away, and will list any property under the old terms and conditions, will put it on the website and show it certainly if they think it is a good property.
But they are not interested to just list anything and everything as of old. They do not wish to be a vehicle for someone with a property, who wants to say ask €500,000 when its true value might be €250,000 I think I said earlier their view is of quality rather than quantity, but they talk to everyone regardless.
Costs vary from somewhere between 200 – 950 or so for entry into HP, and well worth it too I think, the last issue was some 230 pages, was absolutely ram packed with great articles and information all about the CDS also, and would not have come cheap to produce, but will have presented peoples homes and their value in an incomparable way.
I don’t think I have every heard anyone say anything other than HOT Properties is an amazing publication really.
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Thanks everyone for all the commission info.
I suspected that the general comm. was about 5% maybe up to 7.5%, but it’s good to hear Inez and others quoting 2.5% and being up front as well, more akin to the UK.
I remember 10 years ago that Ocean Estates even asked as much as 30% (yes really) on some new developments.
I don’t think anyone should pay more than 5% really and only for a very good service, after all it is the BUYER who is really paying it on top of the property valuation, then plus 11% completion costs too!!!! 😉
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