Hiring a real estate agency: what should you know?

Legal in Spain, Living in Spain, Property in Spain Leave a comment   Published on par Jonatan Carbonell

If you are planning to buy, sell or lease a property in Spain, you are probably looking to hire a real estate agency to help you manage your paperwork and, in order to avoid having a hard time in the process, we have created this article that will provide you with the necessary information that you should take into account before embarking on this adventure.

What is a real estate agency?

First of all, we want you to understand that a real estate agency is that company that is dedicated to the intermediation for the purchase, sale, or rent of some real estate; which can be from an apartment, to a land, a garage or a complete building.

In this sense, we understand that the main function is to mediate between two parties: the person offering a property and the person who simply wishes to acquire it temporarily or permanently.

Tips when hiring a real estate agency

Now, the time has come to contact a real estate consultant and you have doubts about who you should choose. Don’t worry, here are 7 basic questions that will help you make the right decision:

 

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1. What is your reputation?

Take the time to investigate the trajectory of the real estate company you are interested in: check its web page, its years in the market, what other clients who have already hired its services say about it, how many consultants work in the company.

Another tip you can consider is to review the ads they have published on other properties, so you can see a little of the work process they handle, the quality of their offers and response times to the public.

 2. What services are included in the fees?

While it is true that the real estate agency works under a commission for acting as an intermediary between both parties, not all of them charge in the same way. Therefore, ask for a detailed explanation of what aspects are covered by their fees and what is not included.

Also, find out which services apply to the fee to be paid: will they handle the documents for you, will they carry out the visits at your place, among others.

With or without exclusivity?

In some cases, the real estate agency may ask you to sign an exclusivity contract as a condition, do you know what that means?

To enter into an exclusivity contract means that no other real estate company will be allowed to offer the property in question for a certain period of time.

This means that, as a client, you authorize only one agency to carry out the rental or sale of your apartment, house, commercial property, or land. Although it may seem that not offering the property through other means is negative, by carrying out the process in this way, real estate agencies tend to put more effort into achieving the objective in a more optimal period of time.

On the other hand, if you are willing to work under exclusivity, it is recommended that this should be between 3 to 6 months.

What are the terms and conditions?

Carefully read the document with the real estate company you select and make sure to clarify every doubt, no matter how silly it may seem. In short, read the fine print, those that you may be overlooking and assume will benefit you.

It is preferable that you clarify each clause of the contract and avoid going through an uncomfortable situation when looking for or offering a property.

 

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What will the communication be like?

Leaving a property in the hands of a real estate agency is an important step both for that person who urgently needs to move and for that person who has a prey to offer his apartment. For that reason, to avoid having a bad time, be forewarned and consult with your advisor about the frequency of communication.

In most cases, an e-mail address or telephone number is provided to which the service requester can be contacted on a regular basis, and will receive updates if necessary.

6. How do you handle the legal issue?

This question is often very useful in cases where you want to sell an inherited property or when the property is involved in a divorce.

To ensure your well-being, it is advisable that you contact an agency that can also advise you on this type of procedure, so that they can be informed about the associated legal regulations to solve any inconvenience that may arise.

7. Do you offer after-sales services?

When the sale or acquisition of a property is finalized, one issue that we sometimes overlook often comes to the forefront: taxes.

We know that, for many people in Spain, it is a headache to understand the tax issue, so it is ideal that the real estate agency offers you this type of management in the long run and, if additional, do not forget to ask about possible fees.

 

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Advantages offered by real estate agencies

The market offers in the real estate sector can be overwhelming, that is why having the help of an agency to manage this type of requirement can offer you advantages such as the ones mentioned below:

  • They take care of the purchase and sale management, which saves you time and practicality in your procedures.

  • They have knowledge of the prices according to each area in Spain, which allows them to evaluate the real price of the property you wish to purchase or offer.

  • They have a team of professionals trained to negotiate and resolve any inconvenience in the matter.

  • They have a portfolio of potential clients that are useful to publicize the property.

  • They guarantee your security and prevent you from falling into possible scams by fake buyers or sellers.

 

Are you still hesitating to leave your paperwork in the hands of a real estate agency? In TAS Consultancy we offer you a team of experts in administrative, fiscal and legal matters that can take care of your requirements, contact us at +34 93 737 75 25 or visit our website and we will answer you in less than 24 hours!

 

Published on par Jonatan Carbonell

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