Gecko Towers:
When buying a property in the Marbella region, it’s essential to be cautious when accepting advice from certain individuals or sources. Here are some examples:
Unregulated Property Agents
Lack of oversight: Be wary of agents who are not registered with a professional body or regulated by a governing authority. In the Marbella region this can be a little complicated as although a number of would-be professional bodies have been established over the years there is currently no formal registration or regulation process for estate agents as there is in the US, for example.
This has led to a number of criticisms that it is essentially possible to arrive in Marbella at the weekend and by Monday morning have a presence as a real estate agent!!! The ease of creation of websites has assisted this. However, there are a few simple rules to follow to ensure that your estate agent is in fact bona fide.
Are they part of a team? Does that team have an office? Does the agency or agent have direct listing of available properties for sale? As opposed to Multi-Listing Service listings? Do they drive an agency branded car? Is the agency a member of the Leading Property Agents? Not all are including some leading and highly reputable operations but it is a filter. Can they identify the key regions along the Marbella coast? Do they know where the Marbella Club is? Is there telephone number a mobile starting with a 7? As these are some of the most recently issued.
Potential conflicts of interest: Unscrupulous agents may prioritize their own interests over yours, potentially leading to biased advice.
Developers’ Sales Teams
Biased advice: Developers’ sales teams may provide biased advice to secure a sale, potentially glossing over potential issues or drawbacks.
Limited perspective: They may not provide a comprehensive view of the property or local market.
Online Forums and Social Media
Unverified information: Be cautious of unverified information and anecdotal advice from online forums and social media.
Lack of local expertise: Online advice may not account for local nuances and specific circumstances.
Friends and Family Without Local Expertise
Limited knowledge: Friends and family without local expertise may not fully understand the complexities of the Marbella property market, even if they have purchased there themselves.
Potential misinformation: They may provide well-intentioned but inaccurate advice.
When to be Cautious
Red flags: Be cautious if an advisor is pushy, evasive, or secretive about fees and commissions.
Lack of transparency: Be wary if an advisor is unclear about their experience or potential conflicts of interest.
To ensure you’re getting reliable advice, prioritize working with:
Experienced local experts: Seek advice from experienced local experts who understand the Marbella property market.
Transparent and unbiased advice: Prioritize advisors who provide transparent and unbiased advice, clearly disclosing any potential conflicts of interest.
By being cautious and discerning, you’ll be better equipped to make informed decisions when buying a property in the Marbella region.
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Should you be interested in discussing the process involved in buying a property in the Marbella region, we would be delighted to assist you. We have an experience-qualified and best of breed Associates Network comprising professionals focused on the Marbella region’s property market. Their services include property search, mortgages, legal and tax services, visas, surveying, insurance and currency brokerage. We have done the leg work, testing the quality of our Associates Network and now feel confident in recommending their services to you.
Please note that our posts are for general interest. There is no substitute for proper advice tailored to your specific circumstances as provided by a qualified Abogado who is experienced in the application of the Spanish Law. Nothing contained in this article should be seen or taken as legal, tax or financial advice and cannot be relied upon as such. Neither the writer nor the publisher accepts any responsibility for liabilities arising as a result of reliance upon the information given. All details have been reasonably fact-checked and all efforts have been taken to ensure that facts are accurate as at the date of publication.
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