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These are tough times in the Spanish property market, and with estate agents closing down throughout Spain on a daily basis, you would have thought that those remaining would be trying to find smarter ways of working and exploring new opportunities to sell properties in Spain.
There is now a buyers´ market for Spanish property, and most prospective purchasers want to find a genuine bargain in Spain. To do so, they are far more likely to shop around to find their ideal Spanish property bargain, and to use more than one agent.
One way for agents to keep control of their clients and the sales process in general is to offer their buyers access to the properties of other agents in the area. This obviously benefits the agent, as it allows them to keep hold of any prospective sale, but it can also work out well for the client, as they can deal with just one person, and the agent becomes a useful ´one stop shop´ for them.
In fairness, the majority of Spanish property agents are happy to now operate in this way. Of course it means reduced commissions for the agent, but in economic times such as these, everyone´s margins are taking a squeeze.
I therefore find it incredible that some agents, including some of the largest and most established in the Costa del Sol property market, are so obviously reluctant to share their portfolios with other agents. This smacks of arrogance, and is a real kick in the teeth to those vendors who have their properties listed with these short-sighted agents – they are simply missing out on selling their properties to a broader spectrum of buyers.
This situation annoys me intensely, as we are currently operating in a market in which many vendors are desperate to sell, and in which the number of buyers has fallen dramatically in the last 12 months.
If these companies are in the business of selling Spanish properties, surely this is what they should be getting on with?!
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