2.1.3. Estate agency fees

HOW MUCH WILL I HAVE TO PAY IN AGENT FEES?

Estate agency fees are a contentious issue and one which often worries potential property buyers considering investing in Mallorca. The Spanish and international press has had a field day on the subject leaving behind a climate of uncertainty and conflicting views. 

The main question however is often about the integrity of the estate agency itself and the reason why finding the right estate agency is an essential part of making wise property acquisitions in Mallorca.

ASCERTAIN COMMISION BEFOREHAND!

There is no government body to regulate real estate agencies in Spain nor is there any regulation on fees and commissions, so property sales fees can be anything between 5% and 35%, though more often than not, they are around 10% of purchase price, depending on the type of house, whether it is a new build, a townhouse of a country estate, on the area, planning zone and on the number of different parties taking a commission.

Shared Commissions and multiple agencies

The same properties are often listed at different prices on different agency portfolios or shared between agencies, and then commissions split. The agency fee can be added onto the total sale price or included within it. Payment of agency fees is done on completion of sale, after you sign the title deeds.

Speak to your agency before you start and establish the ground rules on fees and comissions.