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Estate Agents fees

Estate Agents fees

Old Mar 28th 2007, 10:14 am
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Default Estate Agents fees

We have been quoted 2% or minimum 2000 euros is this average for agents fees ?
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Old Mar 28th 2007, 11:24 am
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Default Re: Estate Agents fees

Originally Posted by helenp
We have been quoted 2% or minimum 2000 euros is this average for agents fees ?
Helen
Sounds quite cheap. Cheapest I have ever seen is 1.5%, but that agency charges 1.5% to both seller and buyer (so they receive 3%).

On the Costa del Sol I think 5% or 7.5% is more normal.
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Old Mar 28th 2007, 11:38 am
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Default Re: Estate Agents fees

Originally Posted by keithwalters
Sounds quite cheap. Cheapest I have ever seen is 1.5%, but that agency charges 1.5% to both seller and buyer (so they receive 3%).

On the Costa del Sol I think 5% or 7.5% is more normal.
I think what is confusing me is people say when you purchase a property allow 10% of price for fees, is this just solicitor or are agents fees inc in this estimate. Say we buy a townhouse for 30,000 euros allow 3,000 which is 10% then the agents fees are 2,000 so we pay 5,000 euos which is more than 10% I suppose with cheap property this will happen as they have their minimum.



Oh i've just read the solicitors thread shed a bit more light but still think will come to over 10%

Last edited by helenp; Mar 28th 2007 at 11:43 am.
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Old Mar 28th 2007, 3:27 pm
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Default Re: Estate Agents fees

Originally Posted by helenp
I think what is confusing me is people say when you purchase a property allow 10% of price for fees, is this just solicitor or are agents fees inc in this estimate. Say we buy a townhouse for 30,000 euros allow 3,000 which is 10% then the agents fees are 2,000 so we pay 5,000 euos which is more than 10% I suppose with cheap property this will happen as they have their minimum.



Oh i've just read the solicitors thread shed a bit more light but still think will come to over 10%
Hi Helen,

On a purchase you must add on anything between 10 - 15% ontop of the purchase price. This amount is for legal fees, tax, notarias, etc. As far as I know, the agents' fees should already be incorporated into the sale price.

Read this link
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Old Mar 28th 2007, 4:59 pm
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Default Re: Estate Agents fees

Originally Posted by MnM
Hi Helen,

On a purchase you must add on anything between 10 - 15% ontop of the purchase price. This amount is for legal fees, tax, notarias, etc. As far as I know, the agents' fees should already be incorporated into the sale price.

Read this link
Hi

Yes it seems more like 15% when I work it out, I think some agents add the fees on top though thats why there prices seem so cheap. Makes you wonder what a buyer is paying for though its obviously not advertising or commission to find a buyer, just the privilage of buying from them probably.

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Old Mar 28th 2007, 7:00 pm
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Default Re: Estate Agents fees

Originally Posted by helenp
Hi

Yes it seems more like 15% when I work it out, I think some agents add the fees on top though thats why there prices seem so cheap. Makes you wonder what a buyer is paying for though its obviously not advertising or commission to find a buyer, just the privilage of buying from them probably.

Helen
Where I am, commission is split equally between seller and buyer, but this isn´t normal. Usually the buyer does not have to factor any estate agent´s commission on top of the purchase price.

VAT is 7%. Solicitor 1%. Notary, land registry 2-3%. That is how you reach 10%.
Then, if you need a mortgage as well, add another 2% or so on top again for the taxes and set up fees.
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