subject: Advice For Buyers Concerning Mallorca Estate Agents [print this page] For buyers seeking to buy a property in Mallorca you're going to need to deal with Mallorca estate agents. Here we give some hints and advice as to how to go about doing this and some tips that the Mallorca estate agents might not share with you!
Like any country or island which is a property hotspot, there are numerous Mallorca estate agents; based both on and off the island. With several website portals to use and find the property you may be looking for.
For property buyers it would actually be far easier if there was just one Mallorca estate agent who covered the whole island. That way you wouldn't have to spend hours trawling through all their websites or visiting their offices to make sure you had considered every single property on the island! Whilst this is a bit of an unrealistic scenario, you get the point!
As a buyer, you want to find a website which advertises all of the Mallorcan properties for sale so that you can search just once and then register to get updates when new properties meeting your requirements come onto the market. If you find an independent website you're also far less likely to be hassled by Mallorca estate agents until you're actually ready to start talking to them.
Buyers may find things a little strange here though as the norm is for sellers to market their property with several Mallorca estate agents at once. Whilst this in itself isn't very unusual, the fact that the property can be marketed at several different prices is. Without doing a certain amount of research yourself it becomes difficult to figure out exactly what the market value should be and therefore knowing at what level you should make an offer.
Property prices in Mallorca have risen by a staggering 170% in the last ten years and though there are still some holiday apartments and studios which are within the budget of the general population, most of Mallorca's properties are not! This isn't helped by the fact that often property owners aren't in any major rush to move, so, according to some Mallorca estate agents, sellers are given a valuation but decide to market their property with a 10%, 20% or even higher premium on top of the valuation figure. The seller just thinks that they can cash in on the extra if they get a buyer interested enough at that price.
So from a buyers point of view the property market in Mallorca can be really quite frustrating. Because even though Mallorca estate agents can advise a seller about a fair market price, it is the sellers decision at the end of the day as to what the property is marketed for!
by: Gen Wright
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