The US have licensed realtors, as do Scandinavia, and the UK is semi-regulated as properly, however in Spain, there’s no such factor as a regulated or licenced agent. This makes worldwide patrons understandably nervous. Sean Woolley, CEO of Cloud 9 Spain, spoke in regards to the scenario within the space and what patrons can do to decide on a good agent and defend themselves.
We all know within the States, issues are regulated. It’s a must to examine, go exams, and do all kinds of issues to have the ability to go into actual property. Nevertheless, sadly right here in Spain there aren’t any related laws, so anyone who simply fancies pitching up and promoting properties can accomplish that. As a result of all of the brokers basically share a database of properties, all of them have entry to the identical properties and there’s little or no management.
That is one thing that we’re really working onerous to appropriate, alongside the LPA, the affiliation of realtors which we belong to. They’re strongly supporting regulation and coaching and are planning to arrange an academy for realtors, to present them coaching and enhance the market. We’re getting constructive indications of assist from the native authorities in Andalucia on this entrance and the nationwide authorities are additionally trying to introduce additional laws, which is able to assist on this regard.
Nevertheless, within the meantime, we’d suggest that patrons select their brokers with care to ensure they’ve the information and expertise to correctly assist and advise them, notably in a market that isn’t as clear as others when it comes to pricing and historic knowledge.
Our recommendation is to perform a little research, try to discover an agent that you simply really feel snug with, who has the expertise, and who’s a member of the LPA.
The LPA is the Main Property Brokers of Spain and may be very selective of who they permit to develop into members. There are over 100 companies who’re members of this affiliation, and have been vetted earlier than they’ve been allowed to hitch. Members should fulfil sure standards to have membership, they anticipate the best requirements of ethics and repair to be upheld they usually maintain their members to account. Selecting a member of that physique is the most important assure you’re going to get of requirements, ethics and professionalism, earlier than laws adjustments. We hope that the laws will come into impact in 2026.
