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Estate Agents fees

Printed From: Albufeira.com
Category: Living in Albufeira / Viver em Albufeira
Forum Name: Algarve Foreign Residents / Residentes Estrangeiros
Forum Description: Meeting Point / Ponto de Encontro
URL: https://albufeira.com/forum/forum_posts.asp?TID=10010
Printed Date: 02/January/2025 at 22:36
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Topic: Estate Agents fees

Posted By: Richardk
Subject: Estate Agents fees
Date Posted: 20/February/2018 at 18:25

Hi all

I'm looking to sell a rental apartment in Albufeira but am confronted by a both multinational and local agents all looking to charge me 5% plus IVA.

None have offered a reasonable explanation for their high fees as compared to UK (1.5% + VAT). One agent even suggested I increase the price to cover their fees rather than negotiate!

Apart from ' because they can' does anyone know why they are so expensive.

Does anyone know an agent offering reasonable rates

Richard

PS Tried beverywhere.com but response not good

Replies:

Posted By: port princess
Date Posted: 20/February/2018 at 21:43

Hi Richard ,yes their prices are shockingly expensive haven't heard anyone getting cheaper but we can only try to haggle

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Portprincess

Posted By: DICEYUK
Date Posted: 21/February/2018 at 05:33

That's why you see so many properties for sale with just the owners phone number in the window.
Estate Agents must be raking it in now with properties selling quickly and for good money.
Don't need to sell many £1m+ vilas at 5% commission to make a few quid.
About time Portugal had something like Purple Bricks.

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I hate how peopleï compare Frank Zappa to God. I mean, he's cool and great and nice and everything, but he's no Zappa.

Posted By: Andrew
Date Posted: 21/February/2018 at 09:06

We found this Richard but the balance of power swings to you when they report an offer.
First off specify the minimum you want, if they get that plus their commission, so be it, anything less you can then, if it’s close enough for you, tell them if they sacrifice so many of their percent to you the sale can happen.
That’s what happened when we bought, we made offers and eventually, in front of us, the developer said to the agent he would accept our offer if he, the agent, accepted only 2% of it, which he readily did.

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Andrew

Posted By: Richardk
Date Posted: 21/February/2018 at 12:22

Hi all.

Thanks for your replies.

I know we can negotiate once we get an offer but the whole thing is little more than a cartel.

I think we need Michael O Leary to come in and shake them up

Posted By: S1gh
Date Posted: 21/February/2018 at 15:55

I've never bought or sold a property abroad (plan to change this one day) but what about try advertising it on one of the facebook pages?

Someone has just posted a advert looking for a 2 bed apartment in the Albuferia area, max budget €140,000 "properties for rent or sale in the algarve"
Not sure if this fits with what you are selling but a free advert is surely worth a go

Posted By: Chloe
Date Posted: 28/February/2018 at 14:28

It is possible to put it on Rightmove yourself.

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Sure I can help you out. Which way did you come in.

Posted By: wendyhsmith
Date Posted: 03/March/2018 at 09:48

Hi Richard
I am also selling property with Renault but the marketing and service is dire. They can't even get the description vaguely correct. What has your experience been? Can I just walk into another agent and sign up? Are they all dreadful?

Posted By: wendyhsmith
Date Posted: 03/March/2018 at 09:51

That should say Remax not Renault, but it might as well be Renault. Lol

Posted By: port princess
Date Posted: 03/March/2018 at 09:59

I personally would not use Remax think they want to sell properties really cheap as well don't know if that's the case with you Wendy I don't think it ties you in to only contract but also look at Cerro Novo
And as previously mentioned on rightmove,zoopla, s1 homes in U.K.
Hope this helps .

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Portprincess

Posted By: DICEYUK
Date Posted: 03/March/2018 at 10:35

There's a local guy here in Acoteias (pool man/condo manager etc) who does it for 2 grand. Puts a professional looking for sale sign up, takes the phone calls and shows people round. He's sold 2 apartments so far this year, the second one (1 bed in dire need of a refurb) for 94,000.
Not difficult to sell at the moment and you can get a good price if you are realistic

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I hate how peopleï compare Frank Zappa to God. I mean, he's cool and great and nice and everything, but he's no Zappa.

Posted By: tonisdad
Date Posted: 03/March/2018 at 13:45

OLX.pt has a property section...free advertising platform.

Posted By: wendyhsmith
Date Posted: 03/March/2018 at 17:32

How do you put a private listing on rightmove as suggested above? On their site it says...... Rightmove does not accept property advertisements from private sellers or private landlords.

Posted By: jasm276
Date Posted: 07/July/2022 at 10:24

I guess it’s down to personal experience. Our estate agents have been great and worth every penny. We sold our house for an asking price which was 25k above what a lot of the other agents told us to put it on the market for. They’ve been completely efficient and professional throughout and have given us some extremely good advice along the way whilst handling a buyer who fell through because they didn’t have the cash to fulfill their offer. I almost feel like giving them a tip.

If anyone’s selling a house in uk, give http://https://kuavo.co.uk/ - kuavo a ring in Didsbury. If you’re buying, stay well clear 🙂