Reply To: Half of Spain’s estate agencies closed in 2007


Just a simple example of the cyclical nature of the world…

When something becomes “big” or presents a certain amount of opportunity…every man and his dog will have a go at seeing if they can do it, and cash in on the situation.

Example A) The Spanish real estate market, during the approach to the Euro – I will tread carefuly…

In my opinion, the Spanish government deregulated the trade simply because they knew exactly how much black money would be spent by “investors” looking to offload their cash – and why would the Spanish government (or any government in their right mind) object to this? Spains economy thrives on tourism and construction, two industries without which the country would be crippled.

Anyway I am definately getting side tracked.

My point was, that its good news so many agents are closing down this year and last, because you better believe they are not the “good” agents who are closing down, they are not the ones with a firm set of ethics which they adhere to, they are the agents who jumped in at the sign of a quick buck, milked as much money out of the situation as they could, and now things are getting to the stage where agents actually have to work for their money, alot of them have run off to emerging markets with their tales between their legs.

The remaining agents are the ones who are in it for the long run!