July 07, 2022

The role of the real estate agent in Spain

A real estate agent in Spain has many different roles that can vary depending on who the client is and what the needs are. Whether he/she is Spanish or foreign, speaks the language or not and whether he/she also chooses to hire a legal representative or not. It is the most common among foreign clients, but when it is not done, more of the paperwork falls on the agent. Regardless, we can never let go of our involvement and responsibility and we have an important task throughout the process to ensure that communication flows and that all parties both know and understand what is happening and what is required of them in each step.

But let´s start from the beginning.

It is off course the seller who chooses to hire the real estate agent. The most important advantages of working with an agency compared to taking care of everything yourself, is that the agency has knowledge of the market, prices in the area, the buyers' behavior and wishes and can act as a tactical sounding board and help set up a successful sales strategy. We take professional photos and film the property, make an attractive, informative and competitive advertisement, market the home not only on our own website but on a variety of national and international portals and social media. We also study all the documentation for the property so that no unpleasant surprises appear later.

In addition, the agent usually already has a network of potential buyers to recommend the property to directly. We coordinate and carry out the viewings, both with direct clients and other agenices for those who only want to hire one agency. We mediate and handle the negotiation, manage the process with reservation, purchase contract and completion and ensure that the buyer has everything he/she needs to go complete the deal. This can range from meeting with builders for future renovations, technical inspection, information on financing and contact with banks, meeting with legal agencies that help with NIE numbers, open bank accounts, changing electricity, water, tax issues and registration in the property register.

The lawyers also do a due diligence of the property, take care of the contract signing and can sign with a power of attorney for clients who are not in Spain. Even if you hire a lawyer, you have contact with us as an agent during the whole time. We hold your hand until long after the sale/purchase is completed. This applies to both sellers and buyers.

As a real estate agent in Spain, we also work with a strong focus on the buying customer. You could say that we act as a kind of personal shopper. We do a needs analysis, listen to the buyer's requirements and wishes, inform and educate about prices, areas and the Spanish buying process. We show around, guide and present different areas, explain the differences and what you can find in the immediate area. Many of the buyers are not from here and it is not just a matter of finding the right home. Even more important is that the area meets and suits the family's needs. This can apply to proximity to work and schools, but also the range of leisure activities and communications.

It is possible to work as a real estate agent in Spain without any special training or license. This has led to some both rumors and misconceptions, but also to justified criticism of the agents in Spain. Swedes compare with Sweden, where an university education of at least two years is mandatory. However, the roles are very different, mainly due to the Spanish system where completion always takes place before a Public Notary and the legal documents are drawn up by lawyers. The agent must have knowledge of and be involved in the legal process, but has a much more commercial role in Spain with a greater focus on the journey up to the reservation.

Our main task is to find the right buyer for each property we market and to find the right property for each client we work with, but we also have a responsibility to close the deal, which includes the entire process.

Although Spanish law does not require a real estate agent to have special training, this does not mean that everyone succeeds selling properties in Spain. Anyone can try working as an agent here, many do not last very long. Therefore, choose an agent with a few years of experience, with good references and solid local knowledge. Knowing the laws and legal aspects is important, but so is the ability to listen and communicate well. Ask some control questions and choose the one that understands you and you feel you can trust.