Author Topic: Estate agents fees  (Read 10517 times)

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Offline rpg9000

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Estate agents fees
« on: September 30, 2010, 12:16:44 PM »
OK, new member here, and here's my starter for ten.

I did a search and am frankly amazed that this particular question only seems to have come up once before - it was in the wrong section, which may be why it didn't get a reply.

In the UK, we generally pay agents between 1 & 2% in selling commission - and many consider that money for old rope. However, they do at least have far more sophisticated web-sites than those in "our" area - some even have virtual tours and many have detailed floor plans.

My understanding is that Calis/Fethiye etc. agents charge 6% - 3% each from both the seller and the buyer.

Is this correct? How do they justify it? Why do you pay it? No wonder that they're belly-aching that some people are selling their properties on a direct FSBO basis.

I'm hoping to buy a villa in Calis at some point in the future, and the thought of paying a buyer's fee of 3,000 quid to an agent is galling to say the least!

Is this another example of the British mentality of being meekly grateful while we're being screwed?



Offline loz

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Estate agents fees
« Reply #1 on: September 30, 2010, 12:42:30 PM »
Friends here in the UK were discussing with us property in Turkey and fees compared to the UK.  unfortunately our villa was not for them, but they questioned should they find a property with an agent but opt to purchase through a solicitor in Turkey would they still have to pay the agent and the solicitor, or just the solicitor as the agent would not be doing the work, thereby the agent would earn their commission through the seller.
I couldn't answer this,can members on here answer this one?

Offline Scunner

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Estate agents fees
« Reply #2 on: September 30, 2010, 12:45:47 PM »
Ok :D

Easiest way to explain is this. In the UK you will have problems after you have bought. Especially with new builds. You will never dream of phoning the estate agent you bought through about a broken downpipe, you would phone the builder. You won't be phoning the estate agent you bought from six months later because a strange man with a clipboard is standing on your doorstep and you won't want the estate agent you bought from to come with you to help get a tax number or open a bank account.

Due to language and bureaucratic complexities, the relationship between buyer and agent is one that generally is necessary for years after the property purchase, and is required for many, many things - a large proportion entirely unrelated to property in any way. Now tell me, how many times did you contact the agent you bought your current house through in the UK, since the day you got the keys?

I'll make a deal with you and anyone. I won't charge you a penny commission, as is the way in the UK, if you agree never to contact us again once you have your title deed and habitation certificate - there you go, the UK system for you :D

Offline Scunner

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Estate agents fees
« Reply #3 on: September 30, 2010, 12:51:15 PM »
quote:
Originally posted by loz

Friends here in the UK were discussing with us property in Turkey and fees compared to the UK.  unfortunately our villa was not for them, but they questioned should they find a property with an agent but opt to purchase through a solicitor in Turkey would they still have to pay the agent and the solicitor, or just the solicitor as the agent would not be doing the work, thereby the agent would earn their commission through the seller.
I couldn't answer this,can members on here answer this one?



Agents put people who want to buy things in front of things they want to buy. If your friend found your property and/or you themselves and decided to buy it using a solicitor, of course there is no need to pay an agent.

But agents (not just for property) who clients use to find ideal properties for people who are unable to find them for themselves are providing a service - why would someone think they can have their knowledge for free?

Offline cenk

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Estate agents fees
« Reply #4 on: September 30, 2010, 13:18:36 PM »
I know some people who bought directly from seller, and were proud of not paying comission to agents. Or should I say used to be proud of ?  :)


Offline rpg9000

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Estate agents fees
« Reply #5 on: September 30, 2010, 13:25:03 PM »
Mr Scunner - as you probably guessed, my post was pretty much directed at you, although it was not a criticism - I simply asked a series of genuine questions that I'm sure many intelligent people would like answers to. I am not as sychophantic as many of the people on here and, although I try to choose my words carefully (and attempt to spell and punctuate them correctly) if I offend your sensibilities, then so be it!

So, it seems to me that what you are saying is that the extra 4-5% is for services above and beyond what would be considered in the UK as the call of duty for an estate agent? I imagine that you are an honourable (albeit stern) man Mr Scunner, and that you would indeed continue to hold your customer's hands long after completion, but does this apply to all agents? Is there any actual legal obligation for them to do so? Does the extra 4-5% mean that I don't have to bother with a legal representative or a building surveyor because my agent will sort it all out for me?

Having said that, if you (loz) do use the services of an agent to find/view properties, then it is unethical (and probably illegal) to then go and make a deal directly with the seller. Whether or not you use a solicitor has nothing to do with it.
« Last Edit: September 30, 2010, 13:26:01 PM by rpg9000 »

Offline Scunner

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« Reply #6 on: September 30, 2010, 13:34:27 PM »
Not offended at all Mr. rpg Sir. I'm sorry if I gave that impression, I call it passion :D

I am not saying there is an extra 4-5% for any services, what I am saying is that a good estate agent will work longer and harder for their fee than a UK one  :) Does it apply to all agents? Not for me to say. As with everything in life, there is no obligation to use anyone for any service. My experience is estate agency and Calis Beach Forum, the latter being peppered with stories from people who chose not to use an agent and now are paying way more than 3% for any variety of reasons.

Ultimately you must choose your own route. Some are more dangerous than others, that is a fact with buying abroad.

Offline rpg9000

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Estate agents fees
« Reply #7 on: September 30, 2010, 13:48:25 PM »
Understood, and thank you!

Offline Scunner

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« Reply #8 on: September 30, 2010, 14:04:27 PM »
p.s. I've never thought of myself as 'stern' :D


Offline dycedon

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Estate agents fees
« Reply #9 on: September 30, 2010, 14:18:04 PM »
Personally we paid 3%, tried to get the agent to split it, which i was informed was the legal approach but ended up paying 3% what was no hardship.




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