It is traditional for the estate agents in Italy charge both sellers and buyers about 3% each it means that 6% is immediately added to total costs incurred.
In addition, the agent has exclusivity and is well protected by the rules and laws that apply
The result is an enormous number of properties that are up for “private sale” with nothing more than a sun faded scribbled note attached to a window, wall or gate.
It might work for the local passer by but it is hopelessly inadequate for anyone to find at any distance. The estate agents have simply ruined the market with their charging structure instead of helping it flourish.
Having worked as a mortgage broker in the UK estate agents circuit I have some knowledge of how it all works, and after travelling extensively around the globe I eventually decided that Alghero in particular ticked just about every box imaginable as a place to retire to, or have a holiday home that could be enjoyed personally or rented out for an income in the prime tourist months.
Luckily for me my partners children bought a property in the country, near to Alghero and me and their mother now spend a lot of our retired time there as “housekeepers”.
Helping the children to find a suitable property though was a journey of discovery as we soon found out that the best way to find properties for sale was to ask the man in the street, and drive around endlessly looking for scribbled “vendesi” signs.
In the end the property was found via the internet and the owner, unbelievably, lived in England.
All this led me to believe there has to be a better way, and although some websites do have properties advertised the website is often an Italian estate agent so the same costs apply.
This is where I hope this website will be totally different. The income will come from advertising of the property to successful sale or no fee applies. And definitely no fees charged to the buyer!