Your Spanish Property Agent

Your Spanish property agent should have a positive impact on your experience of buying property in Spain. But as a buyer there are a few steps you should take to make sure you get the very best out of your agent.

The first step is to find an agent you can trust.  Not a sales representative driven by targets, but a dedicated property agent who has extensive experience of the area and properties. Recommendation is key, but failing that, search for a specialist in your chosen region then ask to talk to previous clients.  Make sure you speak to the actual agent that is going to show you property so they can start to assess your needs.  The relationship with your agent normally has two phases, pre and post sale.  Unfortunately some agents try to charge for the latter stage, but stick to your guns and find an agent that recognises both are an essential part of the property agent role.

With this aspect safely secured, you have to do something which many people find understandably uncomfortable – be completely open with your agent.  Most of us have a natural and very sensible cynicism towards anyone trying to sell us anything – but if you’ve chosen your agent well you should be able to show them the inner workings of your mind and give them a good indication of the size of your pocket without fear.  An agent should not be selling to you but helping you, sharing with you the nuggets of their experience and the benefit of their local contact network. 

Debate with your agent exactly why you want to buy a property in Spain.  If it’s primarily for investment, but you also hope it will improve your golf handicap then say so.  Or if you really want a holiday home but also see it as a nest egg for your grandchildren, don’t hold back.  Why you are buying the property and how you are intending to use it can shape the advice they give you.  Indeed if you are not clear on the type of property you want one of the best approaches is to talk purely about how you will use it.  Will you be inviting family to join you?  Is it somewhere for summer or winter holidays – or do you intend to use it to generate extra income???

Budget also needs to be discussed.   There is little point turning your budget into a quiz show where your agent has to guess what you can afford.  You will only end up seeing properties either physically or financially unsuitable, wasting your own precious viewing time.  Be realistic, set yourself a limit and ask your agent not to show you property above that limit – you do not want to buy a dream property only for it to turn into a financial nightmare.  Talk openly about how you will raise your finance.  Usually agents will have contacts with local banks that can offer competitive loans.

This could all take place before you leave the UK, however you may feel better in face to face discussion – often over a good cup of Spanish coffee.

When you begin your viewing visit your agent will probably have two lists of properties.  Those you have picked and another list they jotted down from listening to you.  View properties from both lists and work together to narrow the choice down.  As you start to view property you’ll build up ‘must have’ and ‘don’t want’ criteria.  If you are not interested in a property, say so!  No one will be offended, you can move quickly to the next property and your agent can probably add or discount a few others from the list based on your comments. 

When you decide on a specific property ask your agent if there is any room for negotiation.  On resale properties they should already have a good idea if the owner will accept offers, but on new build properties the price is usually non-negotiable.  Ask if they are able to negotiate a little on payment terms or offer you a financial incentive themselves – it all helps. 

Always engage a solicitor, your agents can normally recommend one but do check the solicitor is independent from your builder.  If your circumstances ever change, correct independent legal advice is invaluable. 

Once you’ve secured your property you may now be looking at an agent relationship which could stretch over several years.  Specify now how this relationship should develop and how much or little contact you would like.  Remember your agent is there for you, and working together is the key to a smooth property purchase.