The consumer association OCU has outlined essential advice for homeowners looking to sell their property through an estate agency, warning that commissions and contract clauses require careful scrutiny. While acknowledging that reliable agencies can assist with paperwork and secure a good market price, the group strongly recommends checking specific conditions before signing an agreement.
According to OCU, proximity is a vital factor, suggesting that sellers opt for an agency located close to the property, as local experience ensures a better understanding of the neighborhood market. Homeowners are also advised to check if the agency holds appropriate insurance coverage.
A major focus of the guidance relates to agency fees. OCU notes that commissions typically range between 2 per cent and 6 per cent of the final sale price, sometimes with a minimum fee applied, and reminds sellers to factor in the 21 per cent IVA. The consumer body recommends that sellers negotiate these fees and clearly state in the contract whether the agreed sale price includes the commission. Crucially, the group advises including a specific clause stating that the agency only becomes entitled to its fee upon the actual signing of the public deeds.
To safeguard their financial interests, sellers are encouraged to research average property values independently using online portals. OCU warns that some agencies may suggest lower prices to secure a quick sale and commission at the seller’s expense.
Contract lengths and exclusivity clauses also pose financial risks. OCU highlights cases where contracts spanned 18 months under exclusive terms, penalising sellers hundreds of euro for withdrawing. Consequently, the consumer group advises against signing exclusivity agreements. If an exclusive contract is signed, homeowners should retain the right to sell the property directly to family members or acquaintances without being forced to pay the agency commission. Finally, for those in a hurry, the association suggests adding a clause to offer a slightly higher fee if the property is sold within a short, specified timeframe.
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