The real difference here in Tenerife would be the fact there are hardly any properties on an exclusive basis with agents and as such there are several property sales which get shared between agents and therefore each office ends up with 2.5% of the commission. What the agent does for their funds are also very different to the UK agent as well though.”
As anyone that knows anything about estate agents in Tenerife agency will know, you will find no national governing bodies, so anybody can open an estate agency…although this can be something which if it were within my capability to change, I might. So, no governing bodies implies that there is absolutely no protection for virtually any buyer or even seller. It may be…and often is…a minefield, so at Tenerife Property Group we make an effort to make anything that the uninitiated buyer or seller needs to do or know as simple to access as you can.
, possibly even illegally taking details and photographs of properties using their company agents websites, showing a house to some prospective buyer and awaiting the commission cheques to roll in. Add to that the reality that all of us drive large, posh cars, sit in a pub most of the day and then leave just to possess a round of golf to ensure that we receive home soon enough for the British soaps on TV.
Being a self-employed estate agent, I pay my taxes to Hacienda, the Spanish tax office. I also charge IGIC – Canarian VAT which generally speaking, after a little negotiation with all the vendor is usually included inside the commission fee charged as opposed to on top, which implies that the entire level of the commission fee is not really paid in my opinion, instead quite an amount gets paid for the government. I truly don’t mind this whatsoever because I live in a fantastic country, over a beautiful island where most of the time there are good public services.
Obviously, being self-employed, I have to also pay my own Security contributions but maybe one of the biggest aspects of being self-employed is definitely the risk i take each day that I may well not receive an email from an interested buyer or seller, I may not sell a home for a month or two and then I may be unable to afford my office rent or advertising costs nor the aforementioned taxes and Social Security contributions.
We assist buyers with meetings with their chosen lawyer, aid in opening banks accounts, attend the completion in the sale in the notary office, assisting the vendor using the paperwork they are necessary to provide for their sale. It doesn’t always stop there either, we very often help when things are essental to the newest owner if they are unsure about what to do get repairs done or even to buy things for his or her new property and i also should point out that that also doesn’t range from the designing, building, updating and marketing of varied websites which to market properties for the vendors and the cost of other marketing efforts.
There’s very little point about taking place about how many properties may be shown to prospective buyers and do not bought and in addition that not all potential sales don’t exercise, although we’ve done an entire load of work.
I won’t enter into detail about how exactly, through email marketing and website presence, I have managed to match a buyer and seller and successfully sell a home only for some unscrupulous buyer and seller to attempt to do the deal behind my back and hope i won’t discover therefore, through virtually no fault of my very own, trying to make me earn nothing.
Honestly, I don’t expect someone to feel sorry for me…far as a result, I choose to be in this particular industry, I prefer to be self employed and really, basically if i didn’t want it or I thought which it was unfair, then I wouldn’t do it – but I’d much like some individuals to realise that it’s not as basic as they believe that it is and taking the chance of being self-employed and marketing myself and the Tenerife agent doesn’t come cheap and is likely to eat into a substantial amount of my own time with my family…say’s he, writing this article on the Sunday evening…well I have been cleaning my big posh car, spent the morning within the pub, played golf and watched Eastenders all week, and so i must do something I guess…
Many individuals don’t understand that once i awaken in the morning, I am effectively unemployed and that I’ll have to get on and do somehting that day to at the very least obtain the ball rolling to get potential buyers for my sellers snhrhp to realise that I’m still working or carrying out a viewing on the weekend or possibly in the evening and they’re sipping their glass of Chardonnay on their own balcony.
To boil it down, We have no reason to become apologetic nor embarrassed and I’m delighted to clarify my commission fees to anyone that asks and that i am happy to defend the position of the honest, tax paying estate agent in Spain, in which you can still find quite a few of us. No property seller needs to engage the expertise of an estate agent, as is also borne out from the many “Se Vende” signs one sees everywhere, however, if they wish to increase the profile with their property and also a better possibility of selling it, then currently, we have been an essential evil.