Selling a property in Spain can be a daunting task, especially when navigating the unique customs and practices of the Spanish real estate market. Among the many strategies sellers might consider, one approach could be costing you nearly all of your potential buyers. In a recent survey conducted by Hola Properties, an astonishing 97% of potential buyers expressed strong disapproval of a particular practice, one that could drastically impact your sale.
This blog post explores why charging a buyer’s fee—although legal in Spain—might be the very reason your property is sitting unsold and how you can avoid this costly mistake.
The Practice That Turns Buyers Away
In Spain, unlike in many other countries, it is legal for real estate agents to charge a buyer’s fee. This fee is usually presented to sellers as a cost-saving measure—“You won’t have to pay the full commission!” However, what seems like a win for the seller could actually be a huge loss in disguise.
From the perspective of a buyer, being asked to pay an additional fee on top of the property’s purchase price is not just unwelcome; it’s a dealbreaker. In the survey, 97% of respondents stated that they would either offer significantly less for a property with a buyer’s fee or avoid it altogether. Even more strikingly, 57% of buyers said they wouldn’t even consider viewing or making an offer on such a property.
The Emotional Response: Buyers Feel Cheated
The emotional reactions from survey respondents highlight just how detrimental this practice can be. Many buyers feel cheated or mistrustful of any agent who tries to impose this fee. Comments from the survey ranged from, “I would not pay the agent a fee. Goodbye!” to “I wouldn’t trust an agent that does this.” The overwhelming sentiment was that this practice not only discourages offers but also tarnishes the reputation of the agent and the property they represent.
“Imagine you’ve found your dream home, but then you’re hit with an unexpected fee just for the privilege of purchasing it. The natural reaction is one of distrust—why should you, as a buyer, bear a cost that should arguably be part of the seller’s expenses? This feeling of being unfairly charged leads many buyers to walk away, often without even viewing the property.”
The Financial Impact: Losing Out on a Fair Market Price
For sellers, the implications are serious. If you’re working with an agent who charges a buyer’s fee, you might be unknowingly driving away nearly all of your potential buyers. And for the few who do stick around, the likelihood of receiving a fair market offer diminishes significantly.
A reduced pool of interested buyers naturally leads to less competition, which in turn drives down the final sale price. This means that even if you do sell, you’re likely to receive less than your property’s true value. This outcome is particularly painful when you consider that the very reason you chose to impose the buyer’s fee was to save money on your commission costs.
Why Some Agents Are Out of Touch
Despite these clear downsides, some agents in Spain continue to insist on charging buyer’s fees, arguing that it’s a standard practice in certain regions. However, this is increasingly out of step with what buyers actually want and expect in today’s market. The reality is that the vast majority of buyers—97%, according to our poll—are turned off by this practice.
Sellers need to be aware that agents who continue to charge buyer’s fees are not only risking their own reputation but are also harming their clients’ chances of achieving a successful sale. These agents are out of touch with the evolving expectations of the market, and as a seller, you need to be wary of this.
How Hola Properties Helps You Maximise Your Sale
At Hola Properties, we believe in transparency and fairness, both for the seller and the buyer. We understand that selling your property can be stressful, and the last thing you need is a practice that alienates potential buyers. That’s why we do not charge a buyer’s fee. Instead, we focus on providing value through professional marketing, expert negotiation, and an unwavering commitment to securing the best possible price for your property.
Our approach ensures that your property attracts the maximum number of interested buyers, which creates a competitive environment and drives up the final sale price. We’re dedicated to helping you achieve a successful sale without the hidden pitfalls that can sabotage your efforts.
Conclusion: Don’t Let Buyer’s Fees Derail Your Sale
The takeaway is clear: charging a buyer’s fee in Spain may seem like a cost-saving measure, but it’s more likely to cost you the sale entirely—or at the very least, lead to a lower sale price. With 97% of buyers saying they would be deterred by this practice, it’s crucial to align with an agent who understands the importance of a transparent, buyer-friendly approach.
At Hola Properties, we’re committed to helping you navigate the Spanish real estate market successfully. If you’re considering selling your property or have questions about the best strategies to attract serious buyers, don’t hesitate to get in touch with us. Let’s work together to make your sale a success, without any unnecessary risks.
If you’re ready to sell your property without the risk of turning off potential buyers, contact Hola Properties today. Our team of experts is here to guide you through the process and help you achieve the best possible outcome.
TO see the full video about this topic with the poll, just click here
