Must be mad starting up a real estate agency in vera playa/mojacar

Hi,

I have been reading the forums all night and have come to the conclusion as I'm about to open a real estate agency in Mojacar/Vera Playa that

a)must be mad

b)feel I can bring something new to the industry around here

I believe it will be the latter

I have been an agent for the last 10 years in the UK(London Docklands in the mid 90's - bad times) and Harrogate - good times, Switzerland and Hong Kong and now feel ready for what Mojacar and the surrounding area has to throw at me.

I've been here nearly a year and I'm so disappointed in the way businesses conduct themselves, you just couldn't get away with it, with the companies I've worked for. 

We're offering 2% commission on resales because we feel we'd rather sell 5 properties then have one satisfied client at 10%.  We want to gain a good reputation and work of the back of reccommendations not like the big boys!!!!!

When we first looked here in 2004 one of the wine and dine boys took us to a development for the over 60's and we nearly signed on the dotted line if it wasn't for my wanting to carry research on the development when we got back home.

We will be a local agent that will work hard for our vendors and buyers alike and have a passion for property.

I look forward to meeting some new friends(clients) in Mojacar/VeraPlaya or the UK at shows soon

**************SEE YOU SOON********************

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It would be good to see more agents using the same sort of percentages that are usually seen in the UK market. A good agent is worth a million "dodgy" ones.

Mark

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Hola Coast-Almeria!

From a fellow agent welcome to the forum and to Spain! You gotta be a bit mad to be doing what you ar doing but it sure helps! Hang in there - it will take time to get established but when you do you will be fine!

I have an auction house on the Costa del SOl - when I started it 4 years ago (never been in real estate here prior as had rental agency but was heavily involved in realestate/auctions in UK for man man many years!) I wanted to bring some sensibility to the market.

We were the first to cut the commissions down but running an auction is costly, so we initially pitched at 4% (at the time 7.5% was the norm!!!)

Anyway after the first one I still wasnt compfortable with the rate - bear in mind when I left the UK comms were 1.5 to 1% dependant on sole agency., multiple agency and house price with auctions being .5 to 1% above that! So theory being we might encourage the industry to come down to 3%

So to be bold and bolshy (typical female) we slashed to 2.5% and hearlity advertised it everywhere! 2.5% why pay more was our slogan! Any fees went on replacing the slashed tyres and blown up cars!!! (joke) but we werent popular as you can imagine.

Anyway we carried on with heads held high, numerous arguements with other agencies etc but finally they realized we are not getting run out of town and we dont have the stock they hold as I wont put it on my site unless its a good price (in my opinion) and considering we are in some cases half the 'open market price' we do ok. Really started in response to what I could see was going to be a growing problem with oversupply in the market and with the exception of a few local small guys who do know their stuff, the rest have not a clue and do not come from the old school of EA - ie customer service orientated!

So, having slashed the comm you would think sellers would be beating a path to the foor wouldnt you! nope!!! so dont be disheartened if it takes time, any business over here needs a year to work at it so make sure you have capital to cover you for that time.

And the best of british to you - keep on the forum, Georgia is another agent and there are a couple of others who pop in, Georgia is up by Alicante so you are in between us and in an area neither of us cover but may have clients both buyers and sellers which we can point your way

Keep in touch and enjoy the sun!

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Hi Rixxy,

I'll increase the budget for the slashed tyres!!!!!

Thks for the support, it's about time gals with a EA background can make a difference in this country.

I'll be doing the rounds at the shows, however just to network, I want to see how busy they are to see if they are feasible in the future.  Have you ever been to House Hunters in the Sun- Dublin? Any advice would be helpful?

I'm lucky because I have the drive and ambition and I've already sold 5 properties in the first week!!!!!!!  I'm even thinking about staff but I've heard so many stories about being screwed over by staff that it scares me stiff, however I can't go on doing 17 hour days,  not good and not good for the sun-tanning sessions!!!!!!!!!!!

Luckily nice and sunny all year round in Mojacar so no need to worry on that score!!!!!!

I'll mention you to vendors who need a quick exit, what is your % sold on the day of the auction.

Let me know if you are ever in the area,

Thks again for your support, have now decided I might not be so mad!!!!!!  Let's start a revolution!!!!!!!

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Hiya - glad to hear the enthusiasm! ok

Househunters - best advise I can give is DONT!! Place is dead and I thought they had pulled the shows! I was there last year auctioning mainly to thin air but I did get a huge amount of publicity. Trouble is, every man and his dog knows about buying overseas and the Irish economy is not good coupled with they think Spain to highly priced. Nights out in Dublin are not to be missed though and I recommend Buck Whaleys (all taxis know it) open all night (ahem) and just dont bother going to sleep!

Better to go to the Property investor show excel or their homebuyer events as they are good. Also theres another channel 4 show doing trade shows - cant rememebr the name but I hear they are good and well attended. Personally I think the people who go there now just collect info and brochures most trawl the internet of go by word of mouth, so you may be better to stick here as you are doing well.

Instead of taking on staff and having aggro - get yourself a pa to deal with the admin and stuff, leaves you out to do the selling part cos until one actually completes at notary, it aint sold! And many a slip tween cup and lip (or summat like that!)

Im 2.5% in or out of auction and yes I keep threatening a trip up your way also to see Georgia dn Gillespie futher up the hill. Re the tan do what I did - get an open top car! Legs are a bit white but the top half is pretty golden now!

Nah your not mad - but by heck it helps!

Have a good one - keep in touch!

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