Spanish Real Estate forum - Spanish property - Estate agentsSpanish Real Estate forum - Spanish property - Estate agents

Sahl Hasheesh · 06-29-2007, 07:46 AM

Reading everyones comments it does appear that the most valuable would be those recognised by our major client base which must put the NAEA as a front runner. I have had my forms filled in for some time. Maybe now is the time to post them...!

Homefinder · 06-29-2007, 02:05 PM

If it does seem that there is something moving towards registering and controlling estate agents then I think that we should wait to see what happens.
I have only recently returned to selling real estate. I was into it during most of the 80's but did not have to be qualified because I was selling my own developments. However, the advantages of having a regulatory authority could be clearly seen.

Later, whilst running a rental agency, I reccomended buyers and sellers to local API's or GIPE's but simple because these people earned their commission by handling all the paperwork.

Homefinder

Homefinder · 07-03-2007, 11:21 PM

I think that this issue could be important for everyone. I am particularly interested in Fred's comments about governments at EU level working on the re-introduction of registering and qualifying estate agents.
Could Fred please expand on this. Do any members have any info that could point me in the right direction.
I would like to do some research for my own sake and I'll post anything I find out.

Homefinder

Sahl Hasheesh · 07-03-2007, 11:39 PM

I am always concerned about some of the newly formed 'voice of the industry' bodies springing up as I for one am never sure of the motives of the people behind the scheme. Anything which is developed by a government body with the objective of raising standards and protecting the public is generally a good thing. The other groups come & go and there never seems to be any continuity.

Homefinder · 07-04-2007, 03:15 PM

During the crisis of the 90's I was involved in rentals and the Generalitat Valenciana decided that the way forward was to improve the quality of the product offered (apartments, villas and hotels) in respect of the services and the actual accommodation.

They made a law obliging registration of all all self-catering properties and the agencies offering the accommodation for rental. They also arranged seminars for agency members and training courses for beginners. At the same time there were advertising campaigns abroad to try to bring the toursits back to spain. The whole effort was extremely effictive.

The only problem was, that as Spainish tourism come out of the mire in the late 90's, they forgot the whole thing and ceased to police the self-catering sector. The result is that all that remains now is a small number of very professional agencies strugging for survival against the overwhelming competition from the clandestine sector.
Would you believe that we have to respond to complaints made at the Local Tourist and there are often fines? Meanwhile, if the property has not been provided by by a registered agancy - they just take notes!

All the same I would welcome a law controlling estate agents. This would probably mean the usual seminars and training courses at local polytechnics and universities, which would be free or highly subsidised. More important, those who gained a diploma would have a qualification that was valid in all European countries.
To be sure they would have to consider existing diplomas and API's, GIPE's etc. would automatically be qualified.
Have I stated something here? Lets here from you all about it!

Homefinder

Auction House SL · 07-04-2007, 04:55 PM

I have very mixed feelings regarding official bodies and really donÂ´t think they can work unless the principle of the "Body" is qualified in creating official bodies, IÂ´m sure that doesnÂ´t exist.

As far as government legislation and regulation goes, I prefer that idea, however, It is unlikely the Spanish Government could organise it. After all, It canÂ´t even control corruption in Government for starters!!

Also regulatory bodies only respond to rogue members after the breech of conduct, rather like shutting the stable door and all that!

I canÂ´t possibly think of a third way at present!

Colin S · 07-04-2007, 04:58 PM

I had an Estate Agency partnership in the U.K. and we considered joining the NAEA. However, when we looked into it, it didnâ€™t really do anything for us. If people saw you advertising a property they required they would call or come and see you regardless of whether or not you were NAEA registered and the same applies here.

The NAEA doesnâ€™t have any government approval at all and neither does any other so called Estate Agency Association, many of those in Spain have been set up by nobodies who want to make a few bucks and I for one refuse to be pressured by these people into thinking that there is some justification in joining them for extortionate fees only to see them go under in a short space of time.

You canâ€™t have a Europe wide qualification simply because, as part of any exam you would have to understand fully the laws of conveyance in every country and as every country has different laws, practices and their own set of rules for home buying youâ€™d need to be a boffin to understand and digest all of them for every single country.

You also have to remember that many agents work online only and have no shop or office, these agents could say they were working from anywhere in the world, thus avoiding any Estate Agency Exams that need to be taken if they were made a legal requirement and who would bother to check up on them or, do anything about it if there were some sort of government body or legal exam?

The only way that I can ever see an International Standard is by way of ISO. ISO is a non governmental organisation so it is still not a legally binding organisation, however, ISOÂ´s do have some weight in making certain standards law in their respective countries and if there were an ISO for Estate Agency set up in the countries that partake then the already internationally recognised kite mark would work much better than anything else.

As part of an ISO standard you would be required to take courses and exams for your respective country and only when you pass those exams can you be classified as an ISO Agency. IÂ´m pretty sure that once the ISO had ironed out any problems, most government agencies would actually make the rules law and that everyone would have to take the courses and exams.

Unfortunately this wonâ€™t happen but we can dream. So for now we all have to rely on reputation, customer service and put up with the bad boys until they go under in this mini recession, which many will.

Auction House SL · 07-04-2007, 05:28 PM

Good content Colin and spot on.

I think the key to Spanish Estate Agency is Valuations. I never ask the vendor how much they would like, I just tell them what I can sell it for in current market conditions. Most would-be vendors walk out of my office puffing their cheeks, especially after I tell them I will take my sales fee from that too. As home owners we always tend to over-value our houses. I tell the vendor to get a bank valuation if they are upset by my mine. In the last few cases where the client has done so I was out by €1500 - €2700.Roughly 1%

If an agent knows the values well in their area, they will always sell properties even in a slump. It would be a start if the Spanish government allowed us access to certain portals that Lawyers and Bank Valuers use to gather up-to-date €s per m2, we could then steady the market.

If an agent wishes to sell above that valuation, there will be egg on his/her face when the bank valuer presents the buyer with his report. Most buyers these days need a mortgage, thatÂ´s why I tell my would-be vendors to accept my valuation.

As regards to the so called "dodgy agents" adding very high fees to over-inflated prices, I donÂ´t see them in the same profession as me. If they canÂ´t value a property correctly then they are not an Estate Agent.

IÂ´m not having a pop at anyone here, ItÂ´s just that sometimes I despair as I walk down my road and see the same properties at 20%-40% higher than mine. More worrying is that many these days are "indigenous Spanish agents" and they still think the Brits will pay it, they have no idea of the change in market conditions over the last 18 months!

So in short, we could bring in regulation slowly by first enforcing all practising agents to take an exam in valuations then give them access to the portals for an anual fee.

Homefinder · 07-04-2007, 11:45 PM

I agree generally with Auction House SL but cannot accept that there is no way forward.

"... regarding official bodies and really donÂ´t think they can work unless the principle of the "Body" is qualified in creating official bodies, IÂ´m sure that doesnÂ´t exist.. . " this statement does need a little more explanation.

That ". . .The Spanish Government has show that it cannot control corruption in Government.. . ." cannot be disrpted.

If regularatory bodies investigate breech of conduct, apply sanctions and, in extreme case, expell rogue members then commonsense and justice usually prevail.

If there are no further options, as Auction House SL suggests, then there is no way forward.

Homefinder

Sahl Hasheesh · 07-05-2007, 12:22 AM

This is a bit of a grey area; I know that bank valuers will look at other properties which have recently sold in the area and take a weighted average of the price per m2. However, I have to sell the property; I will first ask if it is on with others and at what price. I then give the client my estimate of the price to achieve a sale in CURRENT MARKET CONDITIONS. Sometimes they don't like it and I will wish them well and walk away. Why? Because I don't want my website full up with unsaleable property at unrealistic prices. I am quite brutal, in the nicest possible way, and most clients respect my honesty. Oh, by the way I am usually right! It would be nice to have a trade body which represents our interests - and it may give a yardstick to compare standards; but would it make me better at my job? I doubt it...