lgarve property owners who professional expertise to value a
are looking to sell their home correctly.
Algarve property, more
often than not engage the The single biggest difference in
services of a Real Estate Agent purchasing Algarve property
in the Algarve since this seems direct from the owner as compared
to be what everyone else is doing to buying through a Real Estate
and so they go to an Agent and Agent is that the buyer and the
place their property on the seller are not impeded in their
market. In Portugal there is negotiations by the 3% or 5%
little done by Agents in terms of commission of the Agent which
valuation. a lot of Agents just does weigh heavy on both the
ask the vendors idea on price, buyer and the seller.
and for fear of not getting the
listing they will blindly accept A sale will become possible when
the asking price of the owner and buyer and seller both get what
offer the property for sale at they want. If not, no sale. The
that price. I am confident that I price a seller is asking is
will not encounter one single determined at the end of the day
agent who can disagree with me, by two thing only. What he needs
that this is a frequent to achieve bottom line or what he
occurrence in the Algarve. Do not wants. That's it. We can talk all
compare the business of Real day about different scenarios and
Estate in the Algarve and the way why the seller want this or that
it works in Portugal with the way and property prices and so on and
you are used to in your own so on. The price in the sellers
country. At the same time I like mind and what he is prepared to
to state, that there are also except as the lowest bid, and
many Algarve Real Estate Agents what the buyer is prepared to pay
around who really have the are the only important issues. If
the vendor does not get his price all that for the best possible
after he has paid the agent his price. Can you blame him for
3% or 5% commission he will have wanting to do that?
two choices only apart from
withdrawing the property from the Considering the we as sellers
market. always believe that our property
is worth more on the open market
Either he places a higher price than a buyer does it stands to
on the property to account for reason that without the agents 3%
the agents commission, or he is or 5% commission taken out of the
starting thinking of selling his deal it will be easier to reach a
property himself. There are many compromise which will result in a
Algarve Properties around which sale. Many sales have been lost
are not selling because the for both buyer and seller because
commission has placed them above of the agents commission got in
the market value. the way of a sale.
Everybody needs to understand, Every buyer needs to face up to
that without an agent involved, the reality that it is he who
the property can be offered to really pays the agents
buyers slightly below market commission. Not the seller. Do
value and the seller will still not let anyone tell you
end up with more cash in his otherwise. There is no seller who
pocket since there is no would be so charitable as to pay
commission payed to the bank the agent 3% or 5% of the value
account of the Real Estate Agent. of his home. We are talking
And the buyer gets a better deal serious money here. So it is
anyway. The only thing the buyer obvious that a seller will have
wants is to buy a property he calculated the amount of
likes in the area he likes and commission and he will have
increased the price of the commission of 27,500 Euros or
property by that amount. The end 18,753 GBP. This is based on 5%
result being that the property commission plus 21% IVA (VAT)
price may already be above real Most foreign owned Real Estate
market value and you are buying a are working on 5%.
property at the very top end of
the market price. Are the services of an agent
worth that much? Only you can
Let us look at a real life decide that. It is your money. If
example. A villa is on the market you are buying through an agent
for 450,000 Euros. This means this is what you will be paying.
that in the selling price is a
About the Author:
Pedro Rodriguez was born in Valencia and spent his early career with Woodstock Homes PLC. After almost 20 years involvement with residential and commercial property sales he is now engaged in a new venture and works as a consultant for an American advertising company. promoting the sale of properties direct from the owners. Our site will give you an overview what" sell and buy direct" is all about. Don't let our name fool you. We are much more than a property advertising and marketing company. visit our site for more information on a wide range of topics concerning Real Estate and Business issues in Portugal and the Algarve in particular http://www.sellandbuydirect.com
Source: www.isnare.com
