Some advices to sell #realestate in Spain on the real estate agency
When we decide to sell real estate in Spain we have to sign several contracts until the transaction is completed. If we decide not to promote the sale by ourselves by means of an advertisement on the terrace, or on the web, we will have to sign a contract with one or more real estate agencies.
Although in practice nobody dedicates more than two minutes to this document, however it is important to dedicate some time to at least review some of the terms and conditions. Specially those related with their fees.
Normally their fees are calculated on a percentage of the sale price which usually goes from a 2% to 10%. Also the term of the agreement, the exclusivity on the sale if any (it is not compulsory) and the payment conditions are important to clarify before signing the agreement.
In order to help the agency to speed up the process it may be convenient to settle into the agreement a different commission depending on the period where the transaction is executed (i.e. 5% the first 2 months, 3% the next two months…). But of course it will depend on the need of the client to sell soon or later the property. Please remember the commission of the real estate agency has to be paid by the seller unless otherwise expressly written into the agreement.
Finally please remember the real estate agency is not allowed to charge a commission to both the seller and the buyer unless both of them know it.