# Selling my flat how do I pay the estate agent



## arcala (Aug 6, 2011)

I am new to the site and hope that someone could help me. I feel a little foolish asking this question.
I have a buyer for my flat but the estate agent has not told me how much he has sold it for. I therefore do not know how much commission he is making. When I go to the notarys office will I get the cheque/money for the whole amount and then pay the estate agent? Or will he be able to get his fee from the notary or agent without me agreeing?
I have not signed any documents with him and he has the 3000 euro deposit for over a week now, he has not asked me for my bank account details. I have instructed a lawyer in Spain who I hope will deal with all of this.
Thanks


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## jojo (Sep 20, 2007)

arcala said:


> I am new to the site and hope that someone could help me. I feel a little foolish asking this question.
> I have a buyer for my flat but the estate agent has not told me how much he has sold it for. I therefore do not know how much commission he is making. When I go to the notarys office will I get the cheque/money for the whole amount and then pay the estate agent? Or will he be able to get his fee from the notary or agent without me agreeing?
> I have not signed any documents with him and he has the 3000 euro deposit for over a week now, he has not asked me for my bank account details. I have instructed a lawyer in Spain who I hope will deal with all of this.
> Thanks


What used to happen is the agent would tell you how much they would give you and anything over and above they kept - that could be 25% or more in the "good old days" !!!! I wouldnt go any further til you have asked the agent and he has told you. You should know how much its being sold for and how much he's making !

Jo xxx


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## stevelin (Apr 25, 2009)

Hi we've just also sold fingers crossed we know how much we are selling for and that agents fee is 5% this seems to be the norm now so I would certainly find out how much he has agreed. You normally get all the money at the notary office and then have to pay the agents out of that less any money he has had already from the deposit. They normally give you the deposit less 5 %. Hope this makes some sense 
Lin


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## Seb* (Mar 22, 2009)

Seriously, you agree to the sale without knowing for how much? I know times are desperate, but no reason to get yourself ripped off.


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## arcala (Aug 6, 2011)

stevelin said:


> Hi we've just also sold fingers crossed we know how much we are selling for and that agents fee is 5% this seems to be the norm now so I would certainly find out how much he has agreed. You normally get all the money at the notary office and then have to pay the agents out of that less any money he has had already from the deposit. They normally give you the deposit less 5 %. Hope this makes some sense
> Lin


Thank you Lin,

When you sau they normaly give y9u the deposit less 5% are yu referring to the estate agent?


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## arcala (Aug 6, 2011)

Seb* said:


> Seriously, you agree to the sale without knowing for how much? I know times are desperate, but no reason to get yourself ripped off.


I know what my bottom price is and that was agreed with the estate agent, but it is a very different thing if he gets the full asking price, as I am sure you will agree.


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## stevelin (Apr 25, 2009)

Hi 
yes the agent gives you the deposit less his 5 % of the deposit. The rest payable on completion by you


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## JoCatalunya (Mar 16, 2011)

I am not sure about the rest of Spain but here in Catalunya there is a little law that states an estate agent cannot hike the price of a property by more than 3% to cover his fees. Indeed that is the maximum he can charge no matter what. However, this is seldom adhered to and I know of a couple of estate agents (Brits) who used to smack on 30% or more to the price, though I am not sure if they have changed their ways lately or not. 

Seriously you need ask him, in writing how much he has sold the property for and what his cut will be, otherwise you could so easily end up out of pocket and the estate agent laughing all the way to the bank.


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## arcala (Aug 6, 2011)

Thanks Jo will do.


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