Agents fees - what is a fair amount to pay?

[valerie]

We visited Abruzzo earlier this month and have decided that we would love to live in the area. However, the fees that the agents are charging seem rather large. What should we expect to pay? Is there another way of seeing and buying the property without these middle men. I know that we will need an interpreter at the very least.
We have a small budget and would like to renovate and when fees of E3600 are mentioned we are thinking that is the price of a new bathroom!
Any thoughts and ideas would be gratefully appreciated.
Valerie

[Stravinsky]

Originally Posted by valerie

We visited Abruzzo earlier this month and have decided that we would love to live in the area. However, the fees that the agents are charging seem rather large. What should we expect to pay? Is there another way of seeing and buying the property without these middle men. I know that we will need an interpreter at the very least.
We have a small budget and would like to renovate and when fees of E3600 are mentioned we are thinking that is the price of a new bathroom!
Any thoughts and ideas would be gratefully appreciated.
Valerie

Errrrr .... sorry ...... the agents are trying to charge you .... the buyer?

[Bevdeforges]

Not sure how it works in Italy, but in France, the estate agents will not show you a property (they won't even disclose the address of the property) until you have signed a document promising to pay their fee (and 3600€ isn't unusual) if you buy the property. I'm not sure how the arrangement works with the seller and any agent they may have consulted.

But under that system there are lots of folks who sell their own homes through special listing newspapers and website that link buyers and sellers directly with no fees.
Cheers,
Bev

[hillie]

The most immo`s are trying to rip you off,so ask help of an Italian speaking friend.dont forget that restoring a property is also costing a lot of money in Italy because you got a lot of rules.
THE BEST SOLUTION FIND A PROPERTY THAT IS ALLREADY RESTORED
Hi Vallerie normaly it is 3% till 6% fees for the immobliare but buying directly by a owner is also possible but you must speek a bit Italian.
For more HELP you can always write us.

Regards Marlon.

[Nancy Beacham]

I've done some househunting in Italy. There are usually foreign firms - mostly UK- who specialize in helping English speakers with Italy property transactions. We worked with a company headed by Linda Travella, she might be able to help advise you or direct you.

Another thought is to check with a company who handles holiday rentals in the area - they might know of a property owner who wants to sell direct eliminating agent fees. This also eliminates some taxes if it's not new construction.

However if you don't speak Italian, it might be best to go thru a company like Linda's. The transaction is a bit complex and you will need assistance from someone who is looking out for you - the agent is actually working for the seller despite the fees you are paying.

Good luck, let us know what happens.

[mountie]

just spent 3 weeks with judas goat english people helping estate agents rip off their own people beware renovations especially carried out by estate agent recommended firms doing anything find a genuine italian friend the people are really helpful take your time i am a builder the past 40 years and was asked 7500 euro to clear the site before starting work twice the amount of work cost 600 pounds in n.ireland you will know when estate agents their reps and their builders etc are lying their lips in most cases will be moving
and they will be really sweet i have an italian group of friends now i met the first one when i asked a stranger in the street about an old ruin luckily he spoke some english in one day he showed me around introduced me to some people irish and italian and i am now buying the house next to my new friend happily without agents fees and all the other add ons the ordinary person in the street in italy is lovely try to find one to help you it is really worth the search ....hope this helps regards to all.......

[Chukkie]

The fact that buyers pay the agent is enshrined in Italian law and it is arrogant of foreigners to come here and dispute it. How would you like it if an Italian came to your country and tried to get out paying something because 'we don't do it that way in Italy' ?? And just remember, most agents are honest and hardworking - they do a lot for the foreign buyer who would otherwise fall into the hands of 'kindly neighbours' who invariably are out to make money. Choose a good agent - that's the first thing you should do. Someone with a track record and appropriate professional qualifications. The get a good lawyer. Agents normally ask for 3% but can be higher on cheaper properties. Why start off on the wrong foot? Agents are not charities!

[mountie]

Originally Posted by Chukkie

The fact that buyers pay the agent is enshrined in Italian law and it is arrogant of foreigners to come here and dispute it. How would you like it if an Italian came to your country and tried to get out paying something because 'we don't do it that way in Italy' ?? And just remember, most agents are honest and hardworking - they do a lot for the foreign buyer who would otherwise fall into the hands of 'kindly neighbours' who invariably are out to make money. Choose a good agent - that's the first thing you should do. Someone with a track record and appropriate professional qualifications. The get a good lawyer. Agents normally ask for 3% but can be higher on cheaper properties. Why start off on the wrong foot? Agents are not charities!

hi chukkie and all, you ask why start off on the wrong foot chuckie ,as a person who has travelled over 5000 k in 3 weeks just to listen to b,s, from agents who by the way all told me they were honest,hardworking and that i was so lucky to find them , you say ;find one with a track record; unfortunately as most of us potential buyers know to our cost we wind up making our own and get stung in the process you say kindly neighbours are invariably out to make money how can you compare them to lupine estate agents? me thinks you may be one ,you show by advising us to pick a qualified agent that a lot are not. one i met had been a milkman 6 months previously .on the question of arrogance, everyone has the right to question and make a decision on the answers recieved no one i,m sure expects anything for nothing these days ,there may be benevolent estate agents out there with all the qualifications needed and only my interest at heart but i certainly will not hold my breath untill i find one. i did find though a kindly neighbour who without fear or favour has helped me immensely without cost. to finish i have to say i think for all potential buyers that we just want fair play ,we want our dream to be fulfilled without the vile undertow who inhabit theworld of foreign property sales and their enablers i,m sure you know who i,m talking about chuckie .it....would be arrogant to suggest they don,t exist..........kindly regards to all mountie

[Chukkie]

Hi Mountie - I am bound to wonder what you have been doing travelling 5,000Km in 3 weeks. Sounds to me like you haven't done your homework properly - such a mad dash around is not necessary. Some of what you say is true - there are many bad 'agents' out there but I remind you again - just because someone says that they are an 'agent' doesn't mean they are. Your ex-milkman had either passed his estate agency exams or not and was thus licensed or not. There is no halfway house. Ask for their registration number at the chamber of commerce and check it out. That's a start and will eliminate a lot - especially foreigners who settle in Italy and think they can sell houses just because they can build websites. Then choose someone with a track record - there are plenty of them! And if they are based outside Italy check their professional credentials in their home country. Yes, there are some nasties in the business but it would be unfair to claim that all in the business are unworthy.There are some pretty unpleasant and thoroughly dishonest buyers around too!

[mountie]

Originally Posted by mountie

hi chukkie and all, you ask why start off on the wrong foot chuckie ,as a person who has travelled over 5000 k in 3 weeks just to listen to b,s, from agents who by the way all told me they were honest,hardworking and that i was so lucky to find them , you say ;find one with a track record; unfortunately as most of us potential buyers know to our cost we wind up making our own and get stung in the process you say kindly neighbours are invariably out to make money how can you compare them to lupine estate agents? me thinks you may be one ,you show by advising us to pick a qualified agent that a lot are not. one i met had been a milkman 6 months previously .on the question of arrogance, everyone has the right to question and make a decision on the answers recieved no one i,m sure expects anything for nothing these days ,there may be benevolent estate agents out there with all the qualifications needed and only my interest at heart but i certainly will not hold my breath untill i find one. i did find though a kindly neighbour who without fear or favour has helped me immensely without cost. to finish i have to say i think for all potential buyers that we just want fair play ,we want our dream to be fulfilled without the vile undertow who inhabit theworld of foreign property sales and their enablers i,m sure you know who i,m talking about chuckie .it....would be arrogant to suggest they don,t exist..........kindly regards to all mountie

me still thinks you are an estate agent i,m sure there are plenty along with their judas goats who use these sites to introduce their nefarious friends with subtle hints of how helpful so&so was and how smooth everything went i still haven,t said there are no good ones out there chuckie but how many would you seriously recommend to your friends good or bad without fear or favour by the way most of the 5000k was done at the behest of well known &recommended agents so i thought the home work was well done ijust didn,t leave my mouth open wide enough to get my jaw broken and kept my healthy trust issues when dealing with any person trying to sell me anything be it house car carpet bible or vaccuum cleaner and believe me out there people while i was being hunted as a customer all the stops were pulled to keep me ,i have to laugh when you talk of rogue customers that must be a new animal i haven,t heard of i didn,t realise estate agents had a forum for complaining about these bad guys please post the address it must be huge . i have to admit some people actually use house hunting in the sun as a form of recreation but not many and anyway agents fees which are just one of the many ways they make their money i,m sure cover the expense incurred it,s all percentages when you work it out you,ll have to give up soon chuckie you must be bleeding from several places now hope i didn,t hurt too much .... best regards ...mountie