Spanish property agents have, historically, charged some of the highest fees in the European property market. Often asking 5-10% commission on resale properties, depending on regional economies and demand.
Since the 2008 financial crisis, estate agent’s fees have reduced a little, but on average, when you take added costs and terms & conditions into account, most property owners are still being charged around 4%. That’s 300% more than a UK high Street estate agent charges!
When you consider Spain hits buyers with some of the highest purchase taxes in Europe (8-10%) plus land registry, notary and legal fees, this ultimately translates to the Spanish property buyer paying 11% more, on top of the asking price. But it gets worse, most property owners here in Spain also add another 4% onto the price they want to cover their estate agents fees. That’s a whopping 15% the property buyer pays on top of the asking price!
This cannot continue, it’s killing an already fragile market.
At Casas247.Net, we have slashed Estate Agents fees to just 1%, NO Sale NO Fee! We only charge on completion of the sale, with no upfront costs to the property owner.
These huge savings – on average 5,400€ – provides extra wriggle-room for sellers to negotiate a favourable price with their buyers, thus, bringing the price of selling and buying property in Spain down to a more affordable rate.
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