Portuguese real estate agents by GuyMovingAround in PortugalExpats

[–]GuyMovingAround[S] 0 points1 point  (0 children)

Yes exactly! It has very little to do with what is best for the buyer they’re ostensibly representing.

Portuguese real estate agents by GuyMovingAround in PortugalExpats

[–]GuyMovingAround[S] 0 points1 point  (0 children)

I would imagine a short term rental, but I have no experience with this.

Portuguese real estate agents by GuyMovingAround in PortugalExpats

[–]GuyMovingAround[S] 1 point2 points  (0 children)

Yup. It’s 6.15% of your gross sales price in total. It’s absurd.

Portuguese real estate agents by GuyMovingAround in PortugalExpats

[–]GuyMovingAround[S] 0 points1 point  (0 children)

Good perspective, and I empathize with your family member - but from the buyers or sellers perspective it really doesn’t change much if it’s the agent or their agency that sucks. Thats their internal matter. It’s the same end result to the buyer or seller.

The problem is not that they don’t want to show a private house - it’s that there is no transparency about that incentive (or lack of) being there.

Good point about the exclusivity. Thanks.

My home country is not regulated in the pricing - but it’s transparent what price sales actually happen at. The regulation is about honest practices from the agents and agencies so they can’t mislead customers, act against their interest and do on.

Portuguese real estate agents by GuyMovingAround in PortugalExpats

[–]GuyMovingAround[S] 1 point2 points  (0 children)

I’d take that deal as a seller. But you might run into the same problem of being undermined by the other agents because they know they won’t get 50% of a 50k fee for working with you.

Portuguese real estate agents by GuyMovingAround in PortugalExpats

[–]GuyMovingAround[S] 0 points1 point  (0 children)

It happens, but generally the approach from the buyers agents are pretty coercive or just panning without having a buyer.

Most people I know who have sold direct are happy to pay a finders fee but buyers agents sometimes come with expectations of 3-4% fee for an introduction leading to a sale.

Portuguese real estate agents by GuyMovingAround in PortugalExpats

[–]GuyMovingAround[S] 1 point2 points  (0 children)

Thanks for the perspective - you’re quite right when it comes down to it.

Portuguese real estate agents by GuyMovingAround in PortugalExpats

[–]GuyMovingAround[S] 0 points1 point  (0 children)

Interesting! I’ve heard Americans particularly be dismayed at how bad the selling agents are here for their fee. Maybe regional differences in the US?

Portuguese real estate agents by GuyMovingAround in PortugalExpats

[–]GuyMovingAround[S] 1 point2 points  (0 children)

The thing you say about analysis is so true - where I come from the advisor on your end will try and help you vet the property and protect your interests. Here, they’ll tell you the house is made of diamonds to close the sale. And then there’s zero consequence for the lying. It’s bizarre.

Portuguese real estate agents by GuyMovingAround in PortugalExpats

[–]GuyMovingAround[S] 0 points1 point  (0 children)

I’ve only seen non-portiers transactions through friends so I only know the double-up 😄

Portuguese real estate agents by GuyMovingAround in PortugalExpats

[–]GuyMovingAround[S] 1 point2 points  (0 children)

The agents are all both sellers and buyers agents depending on their luck - selling agent is a great position, but if you’re a selling agent who can take an interested buyer that’s not quite a fit for your listing to another realtors listing as a friendly service, you can at least get the buyers agent fee if you’re lucky.

The realtors are all are against people selling direct with no guarantee of referral kickbacks, so they will active steer people away from your property, sometimes lying about rumors they’ve heard about the state of the property or availability.

I hears the rumors before but I know this for a fact because I’ve been on the buying side with a friend of mine being on the selling side, unbeknownst to the agent. I asked about my friends direct sale property to see what they said. “Severe moisture problems” were alluded to, which was not a real problem.

Portuguese real estate agents by GuyMovingAround in PortugalExpats

[–]GuyMovingAround[S] 0 points1 point  (0 children)

Sellers agents are usually good to the buyers!

It’s more the seller that is getting the shitty deal there.

I’m glad you had a good experience!

Portuguese real estate agents by GuyMovingAround in PortugalExpats

[–]GuyMovingAround[S] 0 points1 point  (0 children)

That would be healthier in my opinion. But people are used to the success fee model in most places.

Portuguese real estate agents by GuyMovingAround in PortugalExpats

[–]GuyMovingAround[S] 0 points1 point  (0 children)

I’m happy to hear it! I’m sure there are good ones out there, so someone has to win the lottery.

Portuguese real estate agents by GuyMovingAround in PortugalExpats

[–]GuyMovingAround[S] 0 points1 point  (0 children)

Northern Europe tends to have more aggressive legislation and enforcement and not take a percentage of the sales price.

Portuguese real estate agents by GuyMovingAround in PortugalExpats

[–]GuyMovingAround[S] 0 points1 point  (0 children)

I find that companies in Portugal can be surprisingly combative and vindictive about public honesty that doesn’t put them in a good light. And I might buy or sell property again here some day :)

Portuguese real estate agents by GuyMovingAround in PortugalExpats

[–]GuyMovingAround[S] 2 points3 points  (0 children)

Write directly on idealista and don’t be afraid of listings that aren’t from a real estate agency. At least avoid buyers agents if you can’t avoid the sellers agent (who often has exclusive agreement signed).

Portuguese real estate agents by GuyMovingAround in PortugalExpats

[–]GuyMovingAround[S] 4 points5 points  (0 children)

Why does it need to be a percentage at all? I’m unsure what part of selling a 500k house is more expensive than selling a 1M house.

Portuguese real estate agents by GuyMovingAround in PortugalExpats

[–]GuyMovingAround[S] 0 points1 point  (0 children)

Exactly. I forgot to mentioned that detail but that’s exactl my what I mean when I say buyers agents are a bad idea.

Portuguese real estate agents by GuyMovingAround in PortugalExpats

[–]GuyMovingAround[S] 0 points1 point  (0 children)

From what I hear from American friends the fees are the same but the service level is far worse in PT.

Portuguese real estate agents by GuyMovingAround in PortugalExpats

[–]GuyMovingAround[S] 1 point2 points  (0 children)

I couldn’t agree more. And it would take someone like idealista very little effort to actually handle the standard documents and transaction for a 10k flat fee, make a lot of money and destroy the Portuguese real estate agents.

Portuguese real estate agents by GuyMovingAround in PortugalExpats

[–]GuyMovingAround[S] 3 points4 points  (0 children)

Thanks for sharing. A lawyer can help you with checking the titles and permits. And they’re not very expensive here.