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REAL ESTATE AGENCIES IN MALLORCA

Posted by Bea on October 3, 2018
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Who would not want to live on a paradise island? Feeling in a paradise is possible if you live in Mallorca. Sandy beaches and crystal clear water, small coves, and a huge and diverse vegetation. Mallorca helps you to relax and unwind for a few days or for the rest of your life. A real estate agency like Dompick can be the way to find the perfect house for you.

The Mallorca island is a destination chosen by many tourists because this island is also perfect to have a second residence and escape in the summer.

If you are thinking that having a house in Mallorca for relaxing and enjoy all the benefits of the Mediterranean coast, in this article we tell you how to find it. The steps prior to the acquisition of a house are really important and necessary to do them well.

A property can be bought or sold from individual to individual, but having a middleman such as real estate agencies, they will make everything much easier. In this way, you will earn time and money, either for the purchase or sale of your house.

10 reasons to choose a real estate agency

Although it may seem, and many think-, that the management of individuals is the simplest, most economical and transparent formula to carry out a real estate transaction, it is far from being the case.

The lack of complete information of its market and the lack of knowledge of how to advertise its house to the market or the doubts when formalizing it at the end, are enough reasons to make it more profitable to hire an expert in this service.

10 positive aspects of hiring a real-estate agent are:

  1. They are professionals of the area: after the Spanish crisis, the real estate agencies are still present because they changed and adapted to the new needs of the market.  
  2. The agency will invest its time in promoting your property above all and find through their resources the best buyer for your house.
  3. The agencies have marketing tools to promote the properties such as websites, blogs, virtual visits or specialized magazines.
  4. The real estate agent is who have a great knowledge, as well as a great experience to guide you.
  5. The real estate agencies know well the area, they have databases with sales prices and they know how to differentiate between the offer and sale prices.
  6. A professional real-estate agent does not stop learning. Each time, he is learning different things that surround the area: legal, marketing or sales techniques.
  7. A good real-estate agent knows the marker pretty well and has the ability to detect who may be interested in a house and who doesn’t, which saves time and money.
  8. They are the only buyer database. The properties are exposed to the public but not the buyers, so it’s an advantage to have this information.
  9. They process the loan to those who require a mortgage.
  10. They advise, clarify doubts, draft contracts and take care of all the procedures.

After explaining that hiring good real estate agents is always a guarantee of success, now you must know how to choose a real estate agency, which gives you security and comfort when it comes to managing all the paperwork and timely procedures.

How to choose a real estate agency

  1. Take into account the experience of the real estate. A real estate agency with a lot of experience hire qualified and trained staff to advise clients and advise them about the market. Likewise, the guarantees of success of an experienced real estate company are much greater.
  2. The real-estate agency’s opinions are very important in order to know if they are reliable or not. The number of satisfied clients is key to choose a good real estate agency. Furthermore, if you have access to the opinions or qualifications of their clients, it can give us a guarantee of reliability, that this real estate agency has nothing to hide.
  3. The signatures and requesting personal information must be done with the real estate agent, to check the if the documents are true and avoid confusión.
  4. It is important that the agency assures you a real-estate process monitoring. The real estate agents must advise you and manage your case. So, you must be informed of each step, each change and each person interested in your property, and if you are a buyer, each new house that suits your needs.  
  5. If the reason for your real estate search is the sale of a property, it is important that the agency offers qualified buyers. The real estate agency must choose the best staff to help you to sell your property. In the case you want to buy a house, the agency should review all the legal documents, and be able to find out if the property documents are in order.
  6. The agency will accompany you from the first contract until the signing of the contract of sale or purchase of the property. This operation will always be done in notary’s office.

If someone wants to sell a property, once the agency has been choosing, the client must provide all the information required to facilitate the sale process.

Mainly, they will ask you for the deeds’ copy and the last receipt of the I.B.I. (“Impuesto sobre Bienes Inmuebles” or property tax) and all type of plans of the house. In conclusión, they will ask you for any useful document for the property sale.

The task of the real estate agency

  • Advice on the property price.
  • Make visits with potential buyers.
  • Prepare a good deposit contract with an interested buyer.
  • Check the information in the Land Registry.
  • Coordinate all the parties that participate in the signature in the Notary’s office.
  • Advise the buyer of his mortgage loan.
  • The good real-estate agent should advise and manage everything related to energy certification. (In the post X you can read all about electric companies).

Real-estate agency expenses

The expenses of the agency can be seen by the seller as an unnecessary expense. For example, he thinks that he would receive less money from the sale if he has to take over the fee of the real estate agent. Buf after finding the advantages it brings, it’s better to pay that price.

The fees of the real estate agency in Spain: the normal thing in the real-estate sector is that the sale has a real-estate fee of 5% of the amount by which the sale is closed, without forgetting that we must add 21% of IVA.

We are facing a free market because there is no law that regulated the minimum and maximum limits or conditions in these cases. Therefore, there are many types of real-estate fees, from charging a fixed rate of fees to establishing a margin.

The expenses of the real-estate agent are the expenses that the real estate has to carry out his positively and finally carry out a sale. They are very different from the expenses that could have been 4 or 5 years ago. The expenses have been reduced, and the investment in advertising in the newspaper too.

Nowadays, the real-estate agencies publish their offers through their websites and social media. In Dompick real estate, we help you to choose the house that best suits your needs, and we advise you with the purchase of your house in Mallorca.

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