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UK_RS
05-04-2010, 11:36 PM
My parents are looking to sell their apartment in Torrevieja (Spain).

My step mum is out there now, and the estate agent has told my step mum he may charge her 8,000 euros or less as a fee?

However, my concern for her is:

1. Is 8,000 Euros too much?
2. he didnt say how much if less! So no actual quoted figure.
3. he got her to sign something, but I dont know what yet, so Ive asked her to email me the document, or get him to email it to me, before she goes any further!

any advice gratefully appreciated

Thx

Lawbird Lawyer
05-05-2010, 09:26 AM
Dear Sir or Madam,

An Estate Agent is a professional that can set for his professional undertakings the commission he deems fit. In Spain EA's are unregulated having no supervisional body overseeing them. Those bodies that do exist have voluntary membership. Therefor they are not constrained by a predetermined scale of fees or commissions. It is up to you, as a consumer, to reach an agreement with them.

I would advise you nevertheless to obtain a written quote in the contract you sign with the EA laying out clearly the percentage of commission charged for their work; this is a right you have as a consumer in Spain. This hopefully will help avoid most conflicts over the commission due.

Regarding the €8,000 you mention it will depend on the value of the property and the associated work undertaken. Perhaps €8,000 may seem excessive on a €50,000 property but it may be very competitive for a property valued at €500,000. Bottom line, it's relative and will hinge on the sales price and the agreed associated work.

Yours faithfully,
Raymundo Larraín Nesbitt