House Price discrepancies persist

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Andalucia Guru
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House Price discrepancies persist

Postby hillybilly » Fri Feb 10, 2006 11:58 am

Don't know if these links will get deleted but...they just go to show that there are still wide discrepancies between estate agents on the same property.
details 1
details 2
This particular house has been on the market forever. One local Spanish agent has it for sale at €57000, the other non-local agent at €68950. I know that the first agent charges approx 3% commission, so, being generous let's say the agreed price to the vendor is €55000. That means agent no 2 stands to make 25% commission. Old rope?
Being not so generous I know that the asking price of this house has gone up every year.

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Faire d'Income
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Postby Faire d'Income » Fri Feb 10, 2006 7:41 pm

And your point is what? Everyone whinges about Estate Agents but very few people are prepared to go it alone when selling houses, so either get used to it and use it to your advantage, or put up.

nevada smith

Postby nevada smith » Fri Feb 10, 2006 8:34 pm

i'll stick my neck out on this one -
two different houses (based on descriptions), but
the same photo... seen it before...

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Postby Grouser » Fri Feb 10, 2006 8:51 pm

I think its quite reasonable to winge about estate agents given their very low ethical standards. Spain having some excellent examples of this poor trait. When we were house hunting we were looking at one house, dealing directly with the owner. She had also placed it with an agent who had plonked on a six percent markup. We then found the house advertised by a number of other agents. the further away they were from the property the higher the price. 30k away 50% more. We had also made appointments with agents to view houses we had found on the net. When we turned up the houses were no longer for sale if they ever had been. They were just to sucker us in so the agents could try and take us out on their itinery of what they wanted to sell usually in areas we didn't want to buy. To be fair we also met some very nice straightforward agents too, but the majority were time wasters or boarderline con artists at best. So buyer beware. TV programmes in the UK full of balderdash, piffle and downright lies to make the show more interesting don't help very much either

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Lion Amigo
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Postby Lion » Sat Feb 11, 2006 12:04 pm

I have known agents add as much as 100% commission (vendor wanted 180,000 and agent put it on for 360,000), if you look at local magazines/papers you will often see the same property several times for different prices with different agents, it must confuse buyers and put them off.

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