Saving with Mallorca Estate Agency.
Buying a house is stressful enough as it is without the worry of having to add on agents’ commissions to the price of your property. For many, the dream of owning a beautiful property in Mallorca is often just that, (a dream) due to the high and unrealistic prices the island and real estate agencies offer.
According to an online insurance article, https://www.justlanded.com/english/Spain/Spain-Guide/Property/Estate-agents-in-Spain it is widely known that agent fees in Spain are one of the highest in Europe.
‘There are no government controls on agents’ fees in Spain, where an agent’s commission (usually between 5% and 10%) is included in the sale price and therefore effectively paid by the buyer. Commission charged on new properties is usually 10% and on rural properties it can be as high as 35%! Commission charged by agents varies and properties may be advertised at different prices in different agencies…’
General savings and commissions chart, showing house prices, commissions and savings.
Mallorca Estate Agency only charge a 2% commission to their buyers. This allows them to save enough to put towards any renovations that the property may need, pay off any notary/ legal fees or just put it towards general family savings.
For example, a €400,000 property with a commission of 5% will usually have fees of €20,000. By lowering that fee to 2% the buyer will generally save €12,000.
Although it doesn’t seem a lot, a 2% commission ultimately adds up to significant savings for the property buyer.