Agents?

Just curious?

Does anybody know how much (on average) the English Agents get from a property sale?

When do they get their money? Is it on payment of the 40% deposit? Or on completion of the property?

If its after the 40% is paid doesn't that mean there are English agents who have made money from properties that haven't materialised?

Cheers

We bought from a UK based agent. They were paid commision as soon as we paid our 40 % in stage payments. When we visited Mojacar at the proposed time of completion, they had packed up and left without notifying any of their clients. All that was left was an empty office. We don't know how much was paid, but we are led to believe that is was a 'very worthwhile amount'.
Certainly more than enough to cover the expense of an inspection trip !!

So yes, you are quite right, they have taken their commision and run with it. There was nothing in their brochure to tell us that even if we had a bank guarantee we would still not get our money back.  

With hindsight, we now know that the agent actually knew when we were buying that there would be a problem with ACC . I think that the Spanish government should not allow developers to start a new project if there are already problems with the original site, because, this has led to vast numbers of unfinished builds.  Huma should have been made to sort out all of the refunds due to failure of delivery before they could open another site. 

We can only imagine just how many people are in the same situation as us and how long is it all going to take through the courts. It is about time the governments stepped in and demand that developers refund their clients . Until  this happens, more and more people will not consider buying in Spain because it is too risky.

Have you considered suing your English Agents here in the UK?
If they are still in business in the UK, they are liable as they were your agent.

I paid a 3000 Euro deposit through MMI Properties.
I demanded my deposit back last year and was offered it in full, but like a fool I was persuaded to give it another 6 months!

I will be contacting them soon to get my deposit back.
I'll let you know how I get on

Ferino

We  bought   through  Overseas  Property  Shop in the UK and   they  have  had  their   commission.  I have contacted them and they  are not   interested  in  the  fact that   I have  no  property,  no  bank  guarantee  and  not much  chance  of  having  my money  refunded and  more  likely  to  lose  it  if  Huma  goes  bankrupt.    Maybe  the  decent thing  and  gesture  of  good will  would  be  for them  to refund the  commission  they  were paid  directly  to  us, even  if  they   deducted   any costs they incurred.   I believe most  Agents  get 10% of the  total  as commission - obviously  divided  between how  many  Agents are involved. 

When  you  consider  that  Huma have  spent  our  money on agents commission 10% of the  total price,  the    building cost  (labour and  materials) for about  8 months, it  is not  surprising that  they  are in  such  a mess.

If the agents we used were paid anything in the region of 10% that makes my blood boil even more - they are actually 'friends' of ours - is there no decency left in anyone to do the right thing??? Struggling to bring the subject of commission up with them, but I really shouldn't have to...!