The 6 questions we recommend you ask your estate agent before signing an estate agency agreement.
“The best estate agent in the world by Davies Abogados”
1. What type of contract do you use?
There are many different types of contract and each has its benefits and draw backs. The contracts can be classified in two main groups with variations of each.
Multi agency – You can use as many agents as you like and only pay commission to the one who sells your property. The more agents you get working for you, the more potential buyers you will reach, and potentially the higher the offers you will get – but you will pay higher fees.
Sole agency – The agent is given the exclusive right to sell the property. But if the the contract is open-ended, the agent might be able to claim commission, even years after the contract is over (see below).Ask what happens if you sell the property yourself to someone not introduced by them ?
2. How much will you charge?
Estate agents in the Mojacar area usually charge a percentage fee, which varies between 3 and 6% of the agreed selling price for your home depending on the type of contract you choose. Ask if the amount quoted includes V.A.T.
3. Are there any other costs?
Your agent should be able to explain all the costs involved in the selling process which will depend on various factors .
It’s at this point all good agents mention the EEC (energy efficiency certificate ) if they haven’t already. Legally, you must have an Energy Performance Certificate (EEC) conducted before putting your house on the market.These certificates usually cost between 150 and 250 euro.
You will also have to take into account Plusvalía tax , solicitors fee and Capital gains tax.
The cost of selling a property
4. How will you market my home? We suggest you listen to a couple of companies
Internet marketing.
Datas base and Newsletters.
Facebook campaigns
Do they have contacts in the u.k. and other Spanish cities.
Do they market to both Spanish and English ?This is very importante with such a low pound.
Shop window.
For sale sign on the property..
Make sure they tick all the boxes above.
4. How long does the contract run?
Be careful with sole agency contracts that renew automatically unless cancelled (they are frequently used and cause a lot of problems ). If this it the case you must make sure that the when you request the cancelation , that the agent acknowledges it in writing (at least by e-mail ). If this is not possible you need to cancel by Burofax to enable you to prove that you did actually cancel the contract. This point causes many court cases.
6. What happens if we disagree on something?
It is not obligatory to have any type of qualification to become an estate agent in Spain and there is no obligatory membership to any governing body to which you can complain.
Therefore if you can not settle you dispute it would be necessary to go to court.
We recently organised a seminar with estate agents and judges in Moraira and it was clear that badly written and unclear estate agency contracts where causing many court cases .
Only go with an agent that you feel comfortable with. Keep away from potential bullies, as if you have a dispute only a court case can resolve it .
The estate agency contract is a very important document and we strongly recommend you have your solicitor take a look at it before it is signed.
Below you will find a list of English speakers agent. This is not a recommendation.
List of English speaking estate agents in Mojacar.
