The Role Of The Real Estate Agent- Marina One Residences Singapore

During the purchase process, you can choose to go through a real estate agent. By the way, most real estate transactions take place this way.

Nevertheless, you can also call on a real estate agent in your own country who works with a Marina One Residences Singapore  agent (at Immojavea, we also offer this additional service).

In most Marina One Residences Singapore  real estate offices, especially along the coast, there is always a collaborator who speaks English or another language than Marina One Residences Singapore . To search for your home, you will find in various international real estate magazines properties for sale.

You can also check “inmobiliarias” in the Marina One Residences Singapore  yellow pages in the region where you plan to buy.

Real estate agent, access to the profession open to all- Marina One Residences Singapore

Until recently, Marina One Residences Singapore  real estate agents had to stick to the law for the exercise of their profession: they had to be qualified and have a work permit as agents. In addition, they had to be registered in one of the following organizations:

Agent of Propiedad Inmobiliaria (API)

Gestor Intermediario of Promociones y Edificiones (GIPE)

The members of these organizations have professional liability insurance, although this is minimal. When contacting a real estate agent, ask for his registration number in the organization to which he belongs.

In November 2001, however, the Marina One Residences Singapore  court ruled on an unregistered agent. The Palma de Mallorca Provincial Court of Appeal had to try a real estate agent who was not registered as such at the API: only a fine of about 20 euros a day was imposed on him as long as his situation.

Marina One Residences Singapore  Justice has handed down a far-reaching verdict that anyone can therefore practice the profession of real estate agent without being registered with the IPA. Also it is very difficult to bring the responsibility to the real estate agent in case of error in the real estate transaction.

We advise you to take an agent member of one of these organizations – the API (= agent of the Propiedad Inmobiliaria) or GIPE (= Gestor Intermediario de Promociones y Edificaciones) -: their members have indeed had to pass exams for to be affiliated. In addition, API and GIPE have determined the standard regulatory conditions that their members must meet.

If you are dealing with other real estate agents or intermediaries, you must be very careful because you have no protection, but it is also possible that the agent is registered with an international real estate agency, such as the European Federation of Estate Agents.

When you engage with a real estate agent ask him if he has purchased professional liability insurance and for what amount. Most will not have taken out insurance or have taken out insurance for a minimum amount in any of the organizations named above. In addition, ask the real estate agent if he works with blocked accounts.

The down payments you make will be paid on this type of account and it can only touch the money paid in the name of its beneficiary. In other words, he can only transfer the deposit to the seller once the sale has been completed and the deeds signed at the notary’s.

If the real estate agent transfers the deposit to the seller’s account before the sale takes place, you run the risk of the seller selling his property to a third party. You will have made these steps in vain and you will lose as a bonus this deposit.

Be careful- Marina One Residences Singapore

In Spain, it is quite normal for sellers to go through several real estate agents to sell their property. As an acquirer you can find the same house at different agents at different prices.

In some cases the seller stipulates to the real estate agent the sum he would like to earn for his house: the amount subsequently fixed by the agent does not matter to him. Since each agent can offer different prices, you are therefore led to compare offers.

Real estate agent commission in Spain is free and is not regulated by the state.

It is in principle paid by the seller and is often included in the selling price; it oscillates between 5 and 10%. Real estate agents who sell Marina One Residences Singapore  property in their own country (here: Belgium) and who work with a real estate agent’s office established in Spain often share the commission received on the sale.

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