When it comes to selling your apartment, you can choose between doing it on your own or through the management of a real estate agency.
The main reason when deciding whether or not to hire an agency for the sale of your apartment is possible savings, as the agency costs money. There are few who think that this is a useless and expensive service.
It is better to think twice, because being able to trust a professional can make things much easier for owners who do not have time to attract potential buyers, attend their visits, investigate whether the price at which they want to sell the property is a ‘price market’.
For these reasons, it is important that if you are determined to sell your apartment , you have accurate information.
One of the most controversial and most important issues when hiring an agency is the issue of fees. The fees of real estate agencies are nothing more than the percentage they charge for carrying out the sale of a property.
What Do Real Estate Agencies Charge To Sell An Apartment?
All owners want to know what real estate companies charge to sell a flat. Commissions vary widely from business to business, ranging from charging a fixed rate of fees to setting a margin or even a predetermined amount.
Agency fees are also often influenced by prices in the area where the property for sale is located.
Normally the percentage of the commission is around 3% of the final price, although we also find areas where the commissions reach 5%, or if the house is located on the coast, it can rise up to 6%.
Many real estate companies that initially place their commissions between 2% and 4% note that they are negotiable. Do not forget that as they are professional services, these commissions must be added to 21% VAT.
What real estate companies charge to sell an apartment comes from both the buyer and the seller.
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The buyer pays to facilitate the search for their next apartment, and the seller for the convenience of having an expert take care of the paperwork and service to potential buyers.
The real estate commission is usually paid in two installments. At the signing of the deposit contract, the first part is paid, while the rest of the commission is settled during the signing of the public deed before a Notary Public.
Is There An Official Body That Sets These Commissions?
The amount that real estate companies charge to sell an apartment is not set by any official body.
The fees do not have a minimum or maximum, since it is the market’s own competition and, as we have explained before, the type of housing that sets the type of commission that the professional will charge on the final price of the house.
What Does The Real Estate Job Consist Of?
The job of a good real estate agent is not only to advertise the property, but also to help your client:
- Advise on the ideal sale price (for this reason local real estate agencies who know well the area in which the property is located have an advantage).
- Collect the data of interest of the property and make a correct announcement.
- Organize and manage visits with potential buyers.
- Negotiate the final sale price.
- Write a deposit contract that reflects the aspects of the sale.
- Remind the seller that he must have the IBI receipt from the previous year, a certificate of being up to date with payments from the neighborhood community and the energy certificate.
- Advise the buyer regarding the mortgage loan and its financing possibilities before banks.