Estate Agents in Spain charging 5%

I would be very grateful for any advice on the following:

I am selling a property in Spain and the Estate Agent said that they charge 5%. It seems very high, is this the normal charge, for estate agents in Spain, given that in Ireland I think it is 1%?

Thank You
Ann.

Big difference between spain and ireland is that Spanish agents rely on referrals and have to split commissions with up to two or three other agents. In addition, they pay all the advertising costs whereas in Ireland you get a bill for all advertising etc.

It might seem a bit steep, but if they do the job for you, why worry! Personally, I never mind paying an agency if they deliver the goods.

Their commission is directly proportional to how easy/hard it's to sell



PS, What it really comes down to is, how much are you willing to pay in order to sell it?

redo said:

Their commission is directly proportional to how easy/hard it's to sell



PS, What it really comes down to is, how much are you willing to pay in order to sell it?

Click to expand...

The problem in Spain at present is that too few people are chasing too many properties; if an agent can find you a buyer and you get a figure which is acceptable to you - then surely he has earned his commission?

Whereabouts in Spain? In the south, common practice used to be that the agent would charge 2% each to both buyer and seller, i.e. 4% in total. The (Basque-born) agent we dealt with, back in 2002, told us she personally found this appalling and claimed it would never be more than 2% (paid by the seller) in the 'civilised' parts of Spain. But then all sorts of other banditry abounds in the Spanish property-selling game. Caveat emptor...

A friend sold in Puerto Banus last year and they were charged 5%, they tried a lot of agents and could not get a better deal.

As said above if they get you a price you are happy with take it.

To be more specific about the poster's original query, yes -- 5% is pretty much the norm in Spain, subject to vat as well. If you are buying and selling through an agent you can sometimes negotiate, as long as referrals are not involved. You just factor this into your business plan when buying -- it is a reality that exists whether or not you think it is too much.

In my own view though, given the size of the market on the coast in particular and the need to have your property well publicised, the process is well worth the fees (assuming that the agent is a good one and follows up to ensure that the full 10% deposit is paid quickly and that the sale is closed etc).