1118 Oh no, not another Estate Agency Fees Question!!

Apologies if this has been covered, but I've searched the forum and can't find an answer. Actually, I can't find the answer anywhere! My question is, do Italian estate agents normally include the fees charged to the buyer in the advertised property price or does this hefty blow come at the end of the done deal (i.e. price + agency fees)?

Also, I've noticed that a number of British or Irish agents acting on behalf of Italian agencies will either charge a straight fee or a percentage for their services. Rightly so, I suppose, if they're working hard on your behalf; but if you go this route, are you also expected to pay the italian estate agency fees on top of this (price + italian agency fees + British agency fees)?

Or is there, as I suspect, no hard and fast rule at all and simply down to your own negotiation? My suspicion was aroused whilst browsing some Italian agency websites (Como area). I found a property on one site advertised at 82,000 euro. On another site, I found the same property advertised at 99,000 euro!! Now i suppose this could be a mistake, but I just wonder whether the low price doesn't include fees and the other perhaps does include the fees and has also gone just a little higher expecting some negotiation.

[url]http://www.altolario.com/italiano/index5.html[/url]
4th property down

[url]http://www.casadamare.com/lagorusticien.htm[/url]
2nd from bottom

I 'm not interested in the property. It was the 17,000 euro difference that made me sit up and take notice.

Thanks in advance, Derek

Category
Property Sales/Rental Advice

Submitted by Anonymous (not verified) on Tue, 08/16/2005 - 00:59

We bought thru an Italian Estate agent and the fees were seperate from the cost of house. For example : house price : 77.000 euros paid to owner by bankers draft : Estate Agent fees : 3% direct to Estate Agent on the day we signed the documents , also Notario fee, Geometra fee ( if applicable) and taxes all paid over and above price of house. Also lawyer fees ,if using a lawyer ( always advisable because of complicated pre-exemption laws and planning permission issues)

There is a good post on the Forum detailing all expenses.

Sometimes a house is with several agents at different costs, you would need to check with individual agent.

Hope this helps.

Submitted by Anonymous (not verified) on Tue, 08/16/2005 - 03:19

Hi Derek
My wife & I have one of these UK base web sites [url]www.buyatrulli.com[/url] & we only advertise one agent’s properties. The agent is the one that we have bought a property from last August. When we were looking at property last year. We used some of the UK based agencies & all they did for us was make appointments. When we asked over legal issues they said to ask the agents.
We were not happy with the services that they gave to us. These Uk agents normally charge 3% + 3% to the estate agent on top of that. Some agents like you said do put their fees on top of the asking price, but are generally higher than ones that don't. My wife & I negotiated with our agent to reduce his fees to 1.5% when clients use our services but this is payable on the signing of the compromesso. Our fees are 2.5% & payable once the appointment has been made to see the Notary, Usually 7 days before completion. Our agent does not financially contribute to the running of the website our advertisements in the Italy & Italia magazines. The services we offer for our fees are, 1st viewing in accompanied by ourselves, we suggest to customers what price to offer for a property & help them haggle with the seller ( :confused: our agent does not like us doing this), We double check that our clients have not been miss sold a property (some agents tell you anything to get a sale :eek: ), :) checks to see that all pre emptions have been signed, Independent translation of the compromesso & Procura Speciale, The Procura Speciale is power of attorney which saves clients from having to pay for a translator or even being present at the Notaries office, 12 months after sales support with things like: quotes from trades men & checking the quality of work man ship, Location of all the shops & stores needed for home furnishings + delivery of furniture when clients are not there, setting up bank accounts, change of names on utility bills & comune taxes & much more.

I hope this helps you & good look at finding you dream home in Italy.

Mark :rolleyes:

Submitted by Anonymous (not verified) on Tue, 08/16/2005 - 10:06

I have never seen a property advertised with fees included. If you allow 10% of the purchase price to cover taxes, fees, etc. that will normally cover it. If it is a holiday home I advise a budget of 15% as the taxes are higher. We have all the advice you need on our website [url]www.laportaverde.com[/url]

Submitted by Anonymous (not verified) on Tue, 08/16/2005 - 13:00

The agent I bought through (an Italian agency) added the fee to the price

Submitted by Anonymous (not verified) on Wed, 08/17/2005 - 09:12

Guys,
Thanks very much for the replies and information. I guess the answer is check with agencies at the outset what the fees are, then shop around till you get the best deal.

Cheers,

Derek