VIVA 2% commission?

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meseta
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salaried

Postby meseta » Sun Sep 10, 2006 6:36 am

I hear that the employees are now becoming salaried, 36,000 euros pa, BUT they must bring 6 clients a month over to the new deal! hence all the phone calls folks.....

masterob
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Postby masterob » Sun Sep 10, 2006 4:53 pm

The money you pay"upfront" is a percentage of the 1% charged for conveyancing. According to Viva it goes to an account they set up with their lawyers in your name. They (Viva) give you an indemnity that should they go out of business that money is unaffected as it is in a protected account. Should you decide to sell privately or through another Agent, the conveyancing can still be done through the Viva lawyers.

I read with interest the statements that sellers do not need a lawyer for conveyancing. That may be fine if you are fluent in Spanish and are wholly familiar with the system but personally I would feel more comfortable with having a lawyer. Surely it is just as important to safeguard the sellers interests as it is those of the buyer? When I bought here, the sellers lawyer was present at the Notary (as was mine of course) and there were numerous questions the Notary raised during the reading of the escritura. If the sellers had no lawyer present how on earth could/would they respond/understand what was going on especially as they spoke no Spanish.

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Postby Beachcomber » Sun Sep 10, 2006 5:11 pm

The advice on every web site and every book you read on property purchase/sale in Spain is NOT to use a lawyer associated with the estate agent.

This applies to Viva as well as any other agent and they have no right to insist that a seller or purchaser uses their own in house (in cahoots, more like) lawyer.

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freecatsrus
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Postby freecatsrus » Fri Sep 15, 2006 8:06 pm

Very interesting letter in the Costa Del Sol News this week from A.T.K
which i pointed out to my friendly estate agent, who has previously made observations on here, and this is her reply.

"Hi John,
Viva are going to make a fortune ripping off property owners who wish to sell, more than likely Brits as I´m sure my Spanish vendors wouldn´t part with any money until their property was sold.
I have been shown a copy of VIVAS new contract, anyone who wants to list their property with Viva will have to pay 20% of the 1% nun refundable conveyancing fee. Not a bad earner when the business is not so good!!! Going on an average of 400 euros per vendor I could earn myself about 200,000 euros doing this. One would think they wouldn´t get away with it, people are not so gullible but not so, people think Viva, large company, must be good and believe everything they say, one of our English vendors has just been sucked in and has paid them the nun refundable deposit.
I have been told that if their existing clients don´t want to pay this money up front then they stay on their books but pay 7½ % commission.
I haven´t seen it yet but apparently there is a double page spread about their con in the Euro News.
Anyone who would consider using Viva after this then deserves any problems they get.
As to the comment from Nell about me having two properties at the same price as Viva, the reason for that is that on their old 7½ % contract the vendors sign to say they will not advertize it cheaper with any other agent, but I wouldn´t be getting 7½ % out of it like Viva.
In short I wouldn´t touch Viva with a barge pole no matter how desperate I was.
One more point, a country agent selling village and country properties may average one or two sales a month, sadly this year a lot less. The average priced property we sell may be 200,000 euros with lots of properties priced at 80,000-150,000. Most country agents charge 5% on lower priced properties and maybe only 2 or 3% on higher priced properties. It wouldn´t be possible to charge less and make a living from it. Viva however are selling properties that are much more expensive therefore at 2% plus the 1% conveyancing fee they are still earning high commissions.
You may pass this on if you wish, maybe it will help people not to be conned but I am told the article in the Euro News is very interesting, unfortunately I can´t get it here.
All the best,
Sheila. "

I will be on the look out for a copy of the Euro News to see for myself.

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Postby katy » Fri Sep 15, 2006 11:12 pm

At the beginning of your post who is ATK?

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Postby Beachcomber » Fri Sep 15, 2006 11:26 pm

This appears to be the letter. It is the second one down:

http://www.euroweeklynews.com/ewn/mrsed.php

I think it's rather unlikely that ATK will reveal his/her identity. Probably end up in a concrete overcoat.

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Postby freecatsrus » Sat Sep 16, 2006 12:42 pm

Hi Katy, ATK is the author of the letter sent into the newspaper.

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Postby masterob » Sat Sep 16, 2006 12:45 pm

freecatsrus, an interesting letter from your "friendly estate agent".

The cynic in me says that she would say that wouldn't she! I note she refrains from saying how much commission she actually charges, maybe because she will be adversely affected by Viva's reduced fees! I think the lady might do better to understand in detail what Viva are actually offering rather than writing defamatory comments like "con"! In case you ask I don't work for Viva but I am using them to sell my property!!! Initially I was dubious but now that I fully understand the arrangements I am more relaxed about them.

The up-front payment is an advance payment for the conveyancing. If the vendor finds a buyer through another Agent they can still use Viva's conveyancing arrangements so the money is not lost or wasted. Also, the money goes to the solicitor and not to Viva.

I know your friendly agent says the vendor does not need a solicitor and that the Agent can provide whatever advice is needed, but, I think I would prefer to put my trust in a qualified lawyer rather than an unqualified Agent! I also note that apparently Spaniards don't use solicitors, that may be fine if you are fluent in Spanish and fully understand the legal process, otherwise I would prefer to pay for legal representation. Better safe than sorry!

What intrigues me in this is the level of adverse reaction. No one is forced to use Viva. If you don't like it, don't use Viva. I suspect most of the reaction comes from other Agents who, in the past, have made some very nice profits from their high commissions.

I also read the letter from ATK in the Costa Del Sol News. It seems the individual has, to quote, " a few properties to sell". Am I being cynical again by wondering how many people are in that position or maybe the letter is from a disgruntled Agent hiding behind the anonymity of initials?

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Postby freecatsrus » Sat Sep 16, 2006 12:55 pm

Hi Beachcomber, thanks for posting the link, now everyone can read another persons observation about Viva.

Masterob if you have any questions regarding my friends quotes or to question her comments you are welcome to contact her direct instead of in an open forum.
As for you being a cynic, yes i do agree with you.

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Postby masterob » Sat Sep 16, 2006 1:20 pm

Thanks. I'm not really bothered per se about her views. Just seemed to me that what she said in her letter, which you published openly here, was somewhat biased and ill-informed! Each unto his/her own I guess! :)

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Postby freecatsrus » Sat Sep 16, 2006 2:08 pm

Right this is the last posting I am putting on here with reference to Viva or any other agent. I think we have all said enough on the subject," each to his own" according to masterob which i agree with.

The only thing I disagree with is that Sheila has been in the business for 7 yrs now and is certainly not biased or ill informed.

"Hi John,
I can´t keep replying to these messages as I have work to do, unlike Viva at the moment, I have to make my money selling properties, not taking money ( wont say con ) for a conveyening fee whether I sell the property or not.
Someone made a comment about agents benefitting from Vivas 7½ % commission in the past, I would like to say to them that Viva rang me about 5 years ago and told me they didn´t have many lower priced properties on their books and they would like to list our properties and put their 7½ % on top. I told them I wasn´t interested as it would push the prices up. I would rather earn less and sleep at night.
I would also say to, sorry I have forgotten the name, Rob something that he must have money to throw away, OK so he doesn´t speak Spanish( shame on him ) but if he doesn´t have faith in his Agent he can pay a gestor or lawyer for tax advice when or before he sells his property, it certainly wont cost him 1%.
If his property is on the coast then he would probably sell it quicker through an agent there than through us but there are reputable agents on the coast too.
I can understand him defending Viva because of course nobody likes to admit they have been, what´s another word for conned!!!!, got it, misled at their expense.
That´s it John, no more replies as I have a lot to do in the office.
All the best,
Sheila. "

DON'T SHOOT THE MESSENGER

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Postby katy » Sat Sep 16, 2006 2:21 pm

Must admit i'm cynical too, no way would I pay money upfront with the market as it is. A lot of their properties have been on for over a year. Oh, and I'm not an agent.

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Postby Beachcomber » Sat Sep 16, 2006 3:36 pm

And no way would I use legal representation imposed upon me by an estate agent.
masterob wrote:Exactly, giving them the money up front with no security guarantee is like putting it in the dustbin!
masterob wrote:The up-front payment is an advance payment for the conveyancing. If the vendor finds a buyer through another Agent they can still use Viva's conveyancing arrangements so the money is not lost or wasted. Also, the money goes to the solicitor and not to Viva.
Is this a genuine U turn, masterob, or have you been got at?

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Postby masterob » Sat Sep 16, 2006 4:39 pm

A genuine change of mind now that I have met Viva's representative and feel I fully understand the arrangement! Sometimes it is wrong to reach conclusions based on hearsay comments. Slapped wrist for me! :(

Of course it would be nice not to have put any money up-front but principles don't sell houses. As I have said previously, the money goes to the lawyers and were I to sell through a different Agent I can still use those lawyers who, as it happens, are the ones I used when I bought here. I was satisfied with them then so have no reason not to use them this time. In regards to how long it takes, I am content to wait, if it takes a year so be it! In many ways that would suit our situation vis-a-vis CGT.

As to Freecatsrus' comments, I gather the lady whose letters he quotes works for one of the Agents that were part of IN network. I suppose that explains the animosity in her responses! :(

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Postby Beachcomber » Sat Sep 16, 2006 5:02 pm

masterob wrote:A genuine change of mind now that I have met Viva's representative and feel I fully understand the arrangement! :(
In other words 'you've been got at' :wink:

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Postby masterob » Sat Sep 16, 2006 5:09 pm

Never!! :lol:
Either way, if it sells I'm a happy man, if it goes wrong then I shall have to accept the "I told you so's" :cry:

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Postby katy » Sat Sep 16, 2006 7:54 pm

Yeah he's been got at, like those old science fiction films when someone has a drastic personality change. :roll:

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freecatsrus
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Postby freecatsrus » Mon Sep 18, 2006 11:42 am

Right Masterob, let us get something straight here, you accused my friend of being part of a "IN NETWORK" this is false and if you had bothered to contact her you would have found out for yourself, you had the opportunity to PM me for her addy, others did.
She is independant and has been for the 7 yrs she has been running her business.
I have had another reply and like me she is getting fed up of being tarred with the same brush as other agents, one in particular.
Answer as follows:....

"Hi John,
I am not part of any network. This is my own business, there is an agent on the coast who lists some of my properties on his site and sends me clients. I would be happy to send him clients and another agent I know on the coast but I am not part of any network.
The problem with networking is that you don´t know the agents involved, you don´t know if they´re trustworthy and if they are going to look after your clients and give them the after service they need too.
Probably not a very business minded way to look at it but we didn't´t start this business to become rich, we enjoy the job and the personal contact we have with our clients and have made a lot of good friends through it. The idea was to make a living doing something we enjoy and to give our clients who usually don´t speak Spanish at first the benefit of our experience, my husband is Spanish by the way so that helps. "


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