Buying Property in Spain: Do I need an Agent?

Buying Property in Spain: Do I need an Agent?

If you’re thinking of Buying a property in Spain you’re probably also wondering do I need an Agent? and what’s the best way to go about finding your perfect house. Whether it’s for Investment, Holidays or Full-Time Living the problem is still the same, can I do this myself or am I going to need help.

In this day and age help is everywhere, if you’re looking for a home in the sun, there are TV Shows, Magazines, Exhibitions, Websites, Blogs, Property Portals, Real Estate Agents, Property Finders, Property Consultants, Forums and of course friends of friends who have already taken the plunge and bought themselves their own little piece of paradise.

So the short and sweet answer to the question is NO, No you don’t need to work with an agent to help you buy your dream home in the sun and let’s face it considering the amount of bad press Real Estate Agents and Property developers in Spain have received over the years I for one, don’t blame people for not wanting to have anything to do with any of them.

However saying that, it is also wise to bear in mind that if you are lucky enough to come across a good agent, consultant or property finder, they can show you properties and areas that you would probably not have come across if you had undertaken the whole quest under your own steam. A professional person, will not only be able to show you houses and areas you would not have thought of on your own, but they can also be a source of valuable, inside and local information, not only during the time leading up to the purchase of your property, but if they’re any good at their job, they’ll also be happy to help you with advice once you’ve moved in, and should also be there for you, should you have any niggling snags etc., to take care of later on.

Before setting off on your journey in search of the perfect investment, or villa on the beach, there is one Golden Rule that you must remember and never under any circumstances break, and that is to get yourself some Independent Legal Advice. As you are probably just reading this as a result of stumbling across it whilst surfing the web, and we’ve never spoken with each other, then click here to chat with one of the most well established Legal Advisors in the Province of Alicante and beyond. On their website you will also be able to sign up for their News Letter and read their Blog Posts which are full of useful information.

If you are serious about researching the ins and outs of buying Spanish Real Estate then I also recommend you take a look at the Spanish Property Insight this site is full of very useful information for anyone thinking of buying or selling property here in Spain.

Another quick piece of advice I will give you is about Property Finders and this is only for the areas I cover, the Costa Blanca and the Costa Cálida. Obviously due to the nature of my work I spend a fair amount of time on the internet and I have come across Property Finding Companies, that charge a signing up fee from their prospective clients. Now if I were in your position, I would not pay for such a service up front and there is a very simple reason for this. Most, but not all Property Finders, collaborate with other agents, they have to because it’s the only way they will be able to come across the properties they need, now obviously the agents have their commissions built into the price of the property and they usually arrange some kind of split with the property finder and this is how they make their money. So unless you have very specific needs and know the exact area you want to buy in, then you won’t need to pay up front for a service that many professional people, will be more than happy to provide for you on a commission only basis.

Buying Property in Spain: Do I need an Agent?

Now that I’ve touched on the subject of commission I just want to mention that if you’re worried about an agent charging too much commission or ripping you off, then you have a couple of choices. The first, is that you could just ask the agent how much commission they have on the property and if it is reasonable, and in Spain, reasonable is anywhere between 3 & 5% they should be happy to tell you. The second option you have, is to buy yourself a new property, because as these come straight from the developer or the promotor, then the agent’s commission is already built into the price and even if you were to turn up at the builder’s office unaccompanied, you would still pay the same as you do with the agent. On top of this there is of course the chance of an added bonus, when buying a new build through an agent, and that is, that even though they will not be able to give you any kind of price reduction, they may well be inclined to give you some kind of gift, or cash back incentive to sweeten the deal.

So the answer is, if you’re buying a property in Spain you do not need an agent, but they might be more helpful than you have been lead to believe. Remember that not all agents are unprofessional crooks whose only interest is making a fast buck at all costs, Real Estate Agents or Property Consultants or Property Finders are the same as people in any other trade, from Mechanics to Plumbers from Lawyers to Dentists, there’s good and bad to be found across the board.

Before I go, if you’d like to know more about me and the services I can offer you then click here.

If there’s anything you’d like me to add or change then just leave a comment in the box below.

Cheers and ’till the next time,

JP

4 Thoughts on “Buying Property in Spain: Do I need an Agent?

  1. Stuart Heaton says:

    Is it true that I would have to pay a set amount for myself and a lower price for my wife and son.as we are looking to retire to Spain next year when my wife become ‘s 66years old. .many thanks Stuart.

  2. peter field says:

    Hello,
    I have read your article and found it very interesting.
    We were one of the unfortunate sols to purchase a NEW HOUSE here in Finestrat, I say unfortunate because we were duped by an Agent named MedlandSpain.
    So here is our story, we lived in France for 20years and during the summer of 2019 we decided it was time for us to move to another Country, we chose Spain.
    We never did enough research and knew very little about Spain other than a few holidays over the years.
    Anyway our minds were made up, we never knew any estate agents or any other property people , we decided we would like a new build which was to be our last home, we
    are in our late 70s.
    We chose a Medland because they only did NEW BUILD.
    Our criteria was quiet simple, New build townhouse, 2bed 2 bathrooms, small garden with nice views. And most of all KEY READY.
    So we made arrangements with Medland for a viewing, that was in October 2019, they collected us from our hotel and said that the only PROPERTY they had KEY READY was
    where we live now in FINESTRAT. We fell in love with the house and signed a purchase order for delivery on the 2nd February 2020. We paid 179,900 euros which was 20,000 euros more than their asking price, why 20,000 euros more?? their answer was that it was KEY READY!!!
    The price included a Jaccuzi on the roof, we paid an extra 3500 euros for the air conditioning.
    We were renting an apartment while our property was being completed, however with massive delays with the builder/developer IMMOSOL, we moved in July 2020 some 5months late including the 1month lockdown for COVID19 .
    There are many defects which IMMOSOL have details of but have never carried out the remedial works, they have not installed the JACUZZI, they have fitted the shower for the JACUZZI on the roof, we are flooded during storms, electric and water cuts without explantion or warnings, a total nightmare. Even in the beginning MEDLAND were never intrested in my complaints, why should they be, they were on 10% commission with IMMOSOL, wow, thats quiet serious, a real rip off.
    So here we are, MEDLAND AND IMMOSOLs interest is only moving on to the next sales.
    Thought you might want to know our story, sad that it is.

    • Jean-Paul says:

      Good morning Peter,
      Now that is a sad tale indeed!
      The first thing that sprang to my mind as I was reading it, was, why on earth should you pay 20,000€ more for the property because it was Key Ready and I’ll admit that in all of the years I’ve been in this business that’s the first time I’ve heard of something like that.
      Medland and Immosol are not unknown to me, although I have not had any personal dealings with either of them, but what I can say is that the After-Sales departments both in Medland and Immosol are obviously not doing their jobs properly in failing to address the issues you have.
      As far as the construction is concerned you have a 10 year builders guarantee on the property so they are legally obligated to come and rectify issues it has, so in this respect I would sugggest that you keep on at them until they take care of the problems.
      As far as the Jacuzzi is concerned I imagine that you have the fact that it is included in the price somewhere in the contract or on an extras sheet and once again this is a legal obligation so I would keep on at both Immosol and Medland to fulfill their obligations.
      If the phase of the development you are living on is still under construction then you are probably still on builders supply for water and electricity and this can drop off unexpectedly, however if this is not the case then it might be an idea to contact Hidragua or Iberdrola to ask what the problem is, if you don’t speak Spanish both of these companies have representatives that speak English.
      I’m sorry that I can’t be of more help to you at the moment, but if anything should spring to mind don’t hesitate to contact me.
      Cheers,
      JP

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