The Agents Role in Purchasing a Home

Buying a home is usually the biggest investment in anyone’s life, especially in Mallorca, Menorca and Ibiza.

For this reason, in the real estate world, the figure of the agent is frequently used to value the property correctly, to guarantee a fair agreement and to avoid surprises once the purchase of the home has been completed.

Most of the time, the property valuation is limited to the appraisal done by a financial entity and their surveyor, which is needed to obtain the mortgage to purchase the home. This appraisal has a discreet cost, is normally provided by the entity, and is usually favourable to the operation it’s related to, so that the client perceives it as just another procedure, and does not usually stop to analyse it.

But when valuing a property, other factors come into play, such as the method used and the “kind” of value of the property, which are directly related to statistics on the value of the property and computer programs that supposedly allow the valuation of the property. These tools are intended to replace the role of the estate agent – a figure that is essential to provide the added value of their services and clarify all the information that the buyer finds before buying a home.

The added value of agents as property surveyors

During the whole process of buying and selling, the estate agent takes care of the doubts that the client may have due to the great amount of information related to the purchase, as well as helping them to get a fairer price both as a seller and as a buyer. In addition, they play an important role in the event that their support is required to obtain a bank loan to cover the cost of the home.

In this sense, the real estate agent, as well as the APIs, knows all the professionals involved in the negotiations for setting the price, as well as the different needs of each client when buying a property, being in direct contact with the movements and trends of the offer and the demand in the real estate sector.

According to the Secretary of the General Council and COAPI of Spain, “the Real Estate Agent does not work with properties, he works with people, making himself fully available to his clients and their needs throughout the complex process of a property transaction, and providing them with professional services with such added value that he can earn a fair and proportionate fee”, which is why agents must be aware that they are the real estate experts.


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