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-   -   How to sell without an agent (https://www.forum.puertopollensa.com/living-working-pollensa-area/5405-how-sell-without-agent.html)

eleanor 18-11-2009 17:46

How to sell without an agent
 
Has anyone got any good ideas they can share regarding how to sell a property without using an agent?
Their fees are ridiculous - the minimum I have found is 5% + iva!!

Project 18-11-2009 18:00

Hi Eleanor
Quite a few agents will negotiate down to 3%, which although still seems a lot is worth it if you want your property sold:)
It's pretty hard and time consuming to move your own property, you could try adverts in the daily bulletin, thats how we bought our finca:)

eleanor 18-11-2009 19:21

Hi Acidburn,
Thanks for the info. I have tried to negotiate with many of the agents and they won't move. Their argument is that times are different and they need to work much harder to sell a property. They seem to think that because they have many on their books then they do not need to worry! Such a short sighted attitude. We all know things can turn around very quickly and they may then be only to happy to have a villa within walking distance of the Port on their books - I suppose we can't win really! Thanks - I will have a look at the D. B. might be worth a go. I can buy many many ads for 5% of the sale + tax!

ray 19-11-2009 13:32

Why not advertise in the German or irish press as they don't have the pound problem,or set up a web site of your own. Estate agents here are not having to work harder, they have never had to work before, money for old rope. You could set yourself a limit on how much you would spend on your own advertising before resorting to agents

eleanor 19-11-2009 15:42

Excellent idea Ray. I think I will look into doing just that - many thanks.

I can buy much advertising for the fees charged by the agents. Not sure how they can justify these fees!

pollensa 19-11-2009 16:21

You can always place an advert on our site Apartments, Villas for sale in Pollensa, Mallorca Majorca If you are already a rental advertiser then this For Sale advert can link to the rental advert which gives details of the property & makes buyers aware that is a rentable property. Email us at advertise@puertopollensa.com if you are interested.

However, based on what we've seen the few properties that are being sold have had their prices cut dramatically i.e. they are distressed sales. So if you don't NEED to sell it may be worth hanging on.

eleanor 19-11-2009 16:33

Hi Pollensa, thanks for this. Yes we do advertise to rent on this site but I was a little worried about placing a for sale ad too as I felt it may deter people for renting next year, if they were aware the villa was for sale.

It will probably still be for sale next year as the market is slow and if so rental income is important to us. If we sell prior to the start of the season I have an agreement with my sister that with agreement, any renters will be offered my sisters villa which is much superior to ours and very close to the seafront with seaviews. Certainly any renters booking our villa will not be disadvantaged should we sell. Just do not want to put anyone off when there probably wont be any good reason to do so. Difficult position really.

Belladonna 20-11-2009 11:26

I wouldnt think it would put any one off at all, providing you dont allow viewings whilst they are in the villa on holiday!

eleanor 20-11-2009 12:55

Gosh - can you imagine that? Now that could be an idea for a comedy show! lol

eleanor 01-12-2009 15:45

I'm still investigating selling the villa - not something I am happy to do or ever thought I would have to do but the 'D' word is such a big word with horrid consequences!!
Anyway - I am yet to find an agent I feel comfortable using. I have been unable to negotiate any fee less than 5% + IVA (hurts so much to even type it!!)
I have found an agent in the Port who target the Scandinavian market place. I was interested in this agency but when I received their terms they require half their 5% fee on a sale of intention with the other half at completion. They will not negotiate on this and state that it is fair to charge at those points as the work will have been done! I am very concerned that I may pay half their fee and then the buyer drops out. I wondered if anyone has had dealings with this system? - not sure if I can name them here but they advertise on this site under property agents. My instincts are telling me to be very careful.

pollensa 01-12-2009 16:14

Hi Eleanor,

I understand how you feel but if anyone has any comments on particular agents please can you PM Eleanor privately. On the other hand if any one can comment on whether this is standard practice then do go ahead. What do they mean 'sale of intention' - is that when the 10% is paid? If so you would keep the 10% if they drop out.

I understood that the rate was 4% for sole agency & 5% otherwise. Have you looked at using 2 or 3 agents. I get the impression that many sellers do that.

eleanor 01-12-2009 16:50

Hi Pollensa I didn't mention the agent as I guessed it wouldn't be the thing to do. I have made contact with every agent in the Port recently and the rate at the moment is 5%. There are a couple that are charging 6% but will negotiate down to 5%! all ex tax! I have been told that the days of sellers bringing the rates down have gone as it is a buyers market and the agents have to work much harder to conclude a sale!
The 'sale of intention' is I believe, when the deposit is paid. I understand this is non refundable but having read the small print it does seem that if there is a reason the sales falls through such as perhaps deadlines or something to do with the legal side from the seller then the deposit is refundable but fees would still be charged by this particular agent. It may well be a translation problem and should I decide to go ahead with them I certainly need to write my own terms of business! Just wondered if anyone else has had experience of this system.

eleanor 12-02-2010 18:58

All this time on and I thought i would just let you know what is happening with the sale of my viila - NOTHING!!!! I am sorry to say that having been in touch with every agent in the Port who charge a minimum of 5% they are all without doubt - useless!
I have been promised the earth but have received nothing! I have arranged for agents to view but they have just not bothered to turn up, or treat with such contempt that who wants to deal with them anyway - I have sent details and had no response or answer from many - I have handed on a plate to some only to be told they have no agent available! I just can't believe the attitude. I heard today that Pedro Mesquida are the latest to 'go down'- well that is one less to waste my time!! WOnder why??
I am only selling due to my personal problems. My husband and I are now actually agreeing on something! = selling privately - and forgetting the useless agents in Pollensa - we will do it ourselves or failing that we will keep the villa and learn to run it as a business, together!! Any agents reading this - keep away - I am very angry with you all!

Belladonna 12-02-2010 19:33

I can understand why, and really sorry that no leads helped you. Have you spoken to a solicitor about selling yourself? Many times you see handmade for sale signs outside villas, perhaps this is why.

pollensa 12-02-2010 19:55

Quote:

Originally Posted by Belladonna (Post 39854)
Many times you see handmade for sale signs outside villas, perhaps this is why.

They sell the signs in the DIY shops including the Plomer in Pollensa Town.


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