Latest Posts

Miley Cyrus is giving Lidl a big boost in flower sales thanks to the new super hit single

Miley Cyrus' new song Flowers has seen a huge...

Who is Rory McIlroy’s caddy? Everything we know about Harry Diamond

With Rory McIlory heading for another Major at the...

Elvira Navarro: “We are the heritage, even though it is dressed in other clothes”

Adriana feels she is too old to take on...

What should I consider with a real estate agency before selling my home?

- Advertisement -

According to INENational home sales in October 2022 totaled 51,615 properties. The truth is that selling an apartment takes time and sometimes unknown work, which is why a large part of the Spanish population turns to hiring the services of a real estate agency.

Selling property through a real estate agency has several key advantages: First, it You do it in the hands of experts with more knowledge of the market; The second is convenience, as they handle the entire buying and selling process, although it is reasonable to ask that you be informed about the process.

is being prepared Payment of all documentsAmong them bureaucratic unknown to many: estimate the price of the house, publish an announcement on real estate portals, answer the calls of interested persons, show the property, process all the documents, etc.

If we decide to hire the services of a real estate agency, we must consider certain aspects and points before signing the contract. Reading it well and evaluating the following points will make the difference in the sales process and our benefit as sellers.

Fees: Is it worth paying or can I sell my property?

Based on the sale price and contracted services, traditional real estate agents earn a percentage, known as a commission. Although it is an agreement, “they usually establish commission 5%But it can range from 3% to 7%, even 10% if they are luxury homes. They explain from Idealista.

For example, 7,500 euros will be paid by a real estate agency to its client if it sells, say, an apartment worth 150,000 euros with a commission of 5%, which must not forget to add 21% VAT if it is not included. percent.

The question is, is this convenience worth €7,500 or do I have time to sell the house myself?

Although this commission is usually paid by the seller, in some cases, such as when two agencies work together, it can be split in half with the buyer if the parties agree.

In the case of buyers, As OCU explains“They often face the problem of paying commissions to an agency they didn’t hire.”

It happens with Signing the visit sheetThis only proves that the property was visited and the agency fulfills its obligations.

This does not mean that this sheet can be used as a contract to pay a commission that the buyer did not enter into, as it happened A similar case was considered by the Madrid Provincial Court two years ago.

Online Real Estate Fixed Rate

Online real estate agents are becoming the new heroes of the sector, perhaps because of their main difference from traditional ones: they don’t take commissions, that is, they do. Fixed fee.

This fixed rate fee is approx from 1000 to 8000 euros, According to the contract services. For example, basic services include aspects of 1,000 or 2,000 euros, such as an online evaluation of the house, publishing an advertisement in the main real estate portals or drawing up a deposit agreement.

Meanwhile, premium packages cost around 4,000 euros, and double that if you want them to take care of everything. We need to figure out what steps we want to take to see if it’s more profitable to hire the services of an online real estate agency, pay a commission to a traditional one, or sell the apartment on our own with that dedication. This means.

Commissions, when should traditional real estate agents charge them?

In addition to looking for a nearby agency that knows the area and has professional indemnity insurance, care should be taken when signing when we authorize a real estate agency to collect a fee.

Sometimes the agency came in to charge a commission, even though the sale was not ultimately made. Therefore, we have to sign with the agency that This fee is charged only after the sale is signed. When signing a contract with the apartment buyer, not a deposit.

Note the exclusivity agreement and silent continuation

When hiring a real estate agency, it is important to pay close attention to the details of the exclusivity agreement. OCU is clearWhile there are excellent real estate agents out there, “an agent has far more experience than the vast majority of clients in drafting contracts that benefit them, even if they seem innocuous,” which is why we shouldn’t sign anything until we’re well informed. .

signature of Exclusive real estate contract It means that only the agency has the right to sell the house. In the event that we sell the apartment privately or to a person who contacted us through an agency that has signed an exclusivity agreement, the latter has the right not only to demand a fee, but also to initiate legal proceedings against us.

By signing this clause, the property cannot be put up for sale through other agencies. If, on the other hand, the real estate company finds a buyer who is willing to pay the agreed price, but the seller is not interested in continuing the sale, the real estate company will consider that he has fulfilled his obligations and can claim his interest.

To avoid all of this, we need to be careful before signing a silent extension, as this will limit us if we find a buyer outside of the agency. A silent extension means that the Real Estate Exclusivity Agreement will automatically renew unless either party gives 7 to 20 days notice to terminate. In some cases, there are even exclusive real estate contracts for an indefinite period.

In the event that we wait for the exclusivity clause to expire to sell the property, the real estate company cannot claim a fee if we give notice of the termination of the contract with reasonable anticipation.

If you don’t want to miss any of our articles,

Source: El Diario

Latest

Stay in touch:

255,324FansLike
128,657FollowersFollow
97,058SubscribersSubscribe

Don't miss

Miley Cyrus is giving Lidl a big boost in flower sales thanks to the new super hit single

Miley Cyrus' new song Flowers has seen a huge increase in plant sales at Lidl since it was released on 12 January. The break-up...

Who is Rory McIlroy’s caddy? Everything we know about Harry Diamond

With Rory McIlory heading for another Major at the PGA Championship this week, we thought we'd take a look at Rory's right-hand man, caddy...

Elvira Navarro: “We are the heritage, even though it is dressed in other clothes”

Adriana feels she is too old to take on the adjective 'orphan' when her mother dies. He's in his early thirties and thinks...

LEAVE A REPLY

Please enter your comment!
Please enter your name here