Property - Asking Prices

[sam]

One friend in particular has been watching the market here for 3 years and has a list of 8 properties he has followed throughout - the prices have not altered in the 3 years. He knows where they are and drives round to see them - he told me on Sunday that 3 of the properties are using dated photographs and that most are in need of an external coat of paint - one has a pool that is partially full and has a film of slime across its surface. Wouldn't a proactive agent take the time to visit all the properties on their books to make sure they are promoting properties that are 'up together' and immediately saleable?

The Uk is not much different. We went to view one house which was vacant. Before we arrived we asked the agent what the situation was with the buyer and if they were open to offers. He said it was unlikely as they had a lot of interest in the property and likely to get an offer near the asking price. When we got there he had great difficulty opening the door due the volume of post and circulars etc piled up behind the door - clearly several weeks worth. Then, one bedroom had hundreds of dead flies on the window sill and all over the carpet. So clearly no one was interested in the property, not even the agents or the owners.

[MrsB]

Sam is right, it's not the agent's job either over there or in the UK to ensure the property is in a saleable state. Vendors who let their property deteriorate deserve what they (don't) get!

We travelled over for a week in autumn 2009 specifically to look at properties in Carvoeiro and Lagos but when you are faced with multiple agents and hundreds of properties, it's mind-boggling, especially when it's so difficult to narrow the search down from the meagre details displayed, either in advance on the internet or in the shop windows.

One agent in Lagos wouldn't even tell me where the property was unless I booked an appointment to view, but most of us can tell if it's not going to be suitable just by driving past - and when you're working in a limited time frame, a short-list, prepared in advance, is essential.

And how can you prepare a shortlist when they won't give you the information you need? R***X has a 'Find this property with Googlemaps' button which allows you to see exactly where the property is - it's even possible to view the plot and surroundings using the satellite feature. Perfect for those of us who already know the layout of the town and the areas we might want to consider. But do you know how many Carvoeiro vendors are using that company? Four. I've used that same feature on some of the holiday villa sites to book a place in Spain for next year and it's great. I could see how far it was to the sea, and if I would have to walk down unlit roads etc etc so I have been able to book a villa in a town I've never been to with confidence. (Holiday renters take note!)

I know the agents in Carvoeiro are having a tough time, but I'm not hugely sympathetic. There are ways they could try and kickstart the market starting by listening to prospective buyers. When I tried explaining some of this to one of them last year, he just shrugged and suggested that wasn't the way it was done over there. We were so cheesed off by the attitude, we walked away.

My husband is tempted to look again but without some resolution of the problems above, plus some way of establishing what is a fair price, to both buyer and seller, I'm afraid I'm dragging my heels, probably like many others.

[laserblazer]

My husband is tempted to look again but without some resolution of the problems above, plus some way of establishing what is a fair price, to both buyer and seller, I'm afraid I'm dragging my heels, probably like many others

Why don't you tell us what's on your wishlist and we might be able to offer some advice.

[MrsB]

OK, here's a starter..

Are there any properties for sale in the Estr.do Algar Seco or Rua Mato Serrao (lower!) areas? I have found one townhouse in Colina Branca on the market but other than that, I've no idea what's available. And before anyone else says it, yes, I could contact all the agents individually, but that's my point; if they're already advertising their properties on the web, why not use it properly and provide the information the buyers out there actually want? I can't believe I'm alone in finding this frustrating.

[laserblazer]

What's the spec. MrsB? How many beds, own pool, villa, townhouse, apartment. We looked at a nice place by the Tennis Club that tempted us. The owner was up for deals and the agent did let us know that from the start.

[MrsB]

What's the spec. MrsB?

Two beds min, short walk to the town, probably a communal pool, good private outside space. I'd prefer a townhouse or small villa (don't mind a semi if it's private enough)to an apartment, but we're pretty flexible if the location's OK.

Here's an example that my husband has just passed on to me

http://www.rightmove.co.uk/overseas-pro ... 56460.html

Lots of detail and photos but why the big secret about the location? It looks good, but I guess it's going to be too far out of town. And if you go to that agent's website, it's one of the worst offenders in terms of tiny pics and the properties being listed in a seemingly random price order. Oh, unless you know the location, of course, when it might be listed on the LHS. Aaaaargh!!!!

I do appreciate your help, Lazerblazer, but vendors should be asking themselves what they're paying the 5% for. I hope they'll give you some of that commission on any sale!

[MrsB]

Apologies to R***X by the way - I've put in different search criteria and found more properties on the map!

[laserblazer]

I'm not sure where that is but I bet someone on the forum will be able to tell you. I think the reason for the secrecy is to make sure the agent controls the viewings and doesn't lose out on the sale. Just keep sending the details and someone will tell you where it is and the pros and cons. This was the one we liked by the tennis club.

http://www.winkworth.pt/pt-en/sale/prop ... 1&offset=9

[sunman]

MrsB, your property link LOOKS like it's part of Presa da Moura on the cliff road from Sesmarias towards Ferragudo, where (what was) The Island Cafe & Chantal's hairdressers are

[sanreen]

I agree with sunman, it is on the Presa da Moura complex at Sesmarias. Maureen Barao, is the agent in the sales office at Presa da Moura. I found Maureen very helpful when we were buying our property. She also works out of the Monte Carvoeiro sales office. Good luck with your property searc MrsB I hope you find something nice.

[MrsB]

Thanks, guys, that's really helpful

[shanagarry]

it's not the agent's job either over there or in the UK to ensure the property is in a saleable state

If you take an average property selling at €500,000 - through an agent - you will be paying over €25,000 on completion of the sale.

If you are trying to tell me that the agent has no responsibility to either the seller or the vendor for making sure that the property transaction s/he is broking for its condition and suitability - perhaps you could tell me what it is you as a vendor is paying for?

Please don't try and tell me that taking photographs that hide property anomalies - are never updated and are put on a website costs anything like that sort of money. I insisted that our agent refreshed the photographs every 6 months and I rewrote the property particulars after we added/refurbished bathrooms etc.

I believe it is incumbent on the agent that they advise absent sellers of actions they should be taking to enhance their chances of selling. If you do not see that as an agent's responsibility - you have more money than sense

[Jaylay]

This site is always uptodate
http://www.vernon-algarve.com/

[shanagarry]

This site is always uptodate

That's good to see - but not before time and how often are the photographs refreshed (exterior paintwork deteriorates over time).

I stick with my previous point - given the sort of money agents' charge. If all they are doing is advertising a property on a website - showing people around - it's not value for money - especially in the current economic climate

[sunman]

This site is always uptodate

That's good to see - but not before time and how often are the photographs refreshed (exterior paintwork deteriorates over time).

I stick with my previous point - given the sort of money agents' charge. If all they are doing is advertising a property on a website - showing people around - it's not value for money - especially in the current economic climate

ain't that the truth