Re: Re: subject

Chris M

@angie wrote:

Chris, I don’t recall you referencing me as ‘trolling on’ maybe mixed up there.

Read my previous post, no reference to Viva at all, however an earlier one did mention the 2 ex Viva guys at the Alhaurin round-a-bout, I didn’t dream the conversations up, so having wrked fo you sometime why would they say what they said?

Yes, I do want Spanish property mis-selling stopped as well as more transparancy with commissions. Yes, I do want to warn people that transaction costs including some agents’ commissions make buying in Spain a potentially loss making business if the buyer later wishes to return to UK and finds the exchange rate has flipped back.

Risking repeating myself, if someone buys a property that has a built in comm. of 5-7.5% or more then adds 11% completion costs surely you understand that this can’t be for the short term if the person wishes to regain their outlay. Inez for example charges 2.5% comm. quite a difference on a large outlay.

And for a man who not so long ago was leaving the Forum you said, you’re back with a bang and like me you can’t haf ramble too 😉

The wink is at you 😉

On the first issue, one should not necessarily believe everything you hear, and if you are going to repeat it, best be sure it is correct, I would hardly be here Angie openly available and discussing issues on the forum, these past four years, if I had done one half the things you perhaps assume me to have done. I wouldn’t have lasted five minutes, if you want to tell me what you have heard privately, I will answer you privately and I believe to your satisfaction. Otherwise I suggest you drop the subject entirely, I have never dodged any question on this forum but some are private I feel.

I take the wink in good order, thank you for that, and you are right, I was off and correct I came back to ramble on like a good one for sure, perhaps you and I both just can’t help ourselves hey! But at least we are passionate about our position. It is just also that I thought recently the subject matters had changed and I could contribute something else.

I know you want transparency, and I know you have concerns about agency commissions, and I think I have explained in the past that the reality for the local agent is often around 2-3% received after clients have been acquired through external introduction sources. So don’t assume because someone charges 5% that this is what they themselves receive.

I don’t know how many properties either that Inez sells in a month, but if you are representing Vendors which is the first job of an agent, and THEY are actually paying the bill not the Buyer, and you want to bring an increased volume of sales, then you have to market these and that doesn’t come cheap if it is to be done correctly, and I would venture that as admirable as Inez’s business might be, it is probably far less than in volume terms than those to whom you often refer. Everyone has their place and part to play in this market.

Now as to the Buyer, he has to find the right property, under your preferred scenario this would be best achieved using a small agent, however if that agent has only what… a dozen genuine self listed properties, and the buyer wants to research or visit more, what does he do? Go to 50 small agents? Perhaps if he has the time, or perhaps he goes to an agent that literally has 500 properties of a particular type across a much wider area.

Either way, the Buyer has benefits from both small or large agent, if they are in a position to help him negotiate with the Vendor, and I would venture that over the past years, people who have bought through myself have had some outstanding buys, and would have more than saved themselves far more than any commission than the Vendor pays in total.

You can take it whichever way you like, remember I also said that it was not I who lied to you when you bought, so… imagine just for a minute that perhaps I know my stuff, imagine you are buying tomorrow, and you have seen a property with another agent – small or large – and it seems like the best possible buy, and perhaps it is genuinely the best buy that agent has or knows of, but then imagine… I introduce you to something else, a better property, a better location and a price some 25% lower than you were thinking of spending…

Where are you better off Angie, buying through the other agent who is charging 2.5% to his vendor or through me? Why would you even care what the Vendor is paying, or I am making, isn’t my service and delivery far more important. Isn’t it that you get absolutely the best property at the best price. That you shop around and understand for yourself what is truly available?

So, shop around, for instance Fuengi is an agent, and as I understand it a good one by all accounts, now I bet you a pound to a penny, if I am selling in or around Fuengirola and have limited listings there, then I am pretty sure he will have something else for you to also see, and will be very competitive about finding you the right buy, and might well blow me and what ever I offer right out of the water. This too can happen, should happen otherwise there is no point to agents at all.

So, what is important is buying the right property at the right price, and not what you percieve or don’t percieve someone is or isn’t making out of the scenario, and again, when you come to sell, I bet it would be the likes of me, who I think even you would agree actually spends your fee in earnest to market to clients, rather than the small agent who just has a small locale in the back of a market, and spends nothing other than his monthly rent.

True or not? Worse still, you could be buying through an agent that doesn’t even have an office, just a website that they operate from their back bedroom, but has an image that they are far more than they are. And who when you likely come to sell won’t be found for love nor money.

I am not your enemy Angie, and not everything is as cut and dried as it seems no?

As to the other purchase costs, again, anyone buying has forever had to take into account the overall cost including notary and transfer taxes, on the way in and out, so people should always think in gross terms yes.

That is just the way that it is. And given everything that has happened in the market these past pre boom, boom, post boom and crash years, there are still many opportunities out there, perhaps more now than ever before. Funny though, that people like Inez and Fuengi to be fair, have also been here in good weather and foul, they have their old clients and new to take care of, and are here to be shot at also.

I think thefore you should judge an agent against both another agent or two, or three, or against what you feel you might even be able to achieve by purchase directly through a private vendor sale or developer perhaps.

But don’t continue to berate everyone with the fact that to your mind that all agents lie continuously or are out for every last drop of blood they can squeeze, most of those people are for now gone and out of business, lets hope they don’t return, but cut some slack here and understand we got the message it doesn’t have to come up on every thread.

Now how was that for a ramble…! And hopefully I have been able to add a wink 😉