Spanish Estate Agents

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If you are looking for a property to buy in Los Gigantes, then you have chosen a wonderful location for your search. Los Gigantes is a great place to live, work and play and has so much to offer everyone including some fabulous cafes, bars and restaurants! Also, the recent sponsorship of Carnaval Los Gigantes by Paul Ruane has helped secure the future of the Carnaval and promote this wonderful extravaganza enjoyed by all the family!

When you are looking for property to buy in Los Gigantes, make sure you choose a well established Estate Agent such as Paul Ruane where you can be rest assured that your investment is being handled by a great, caring and loyal team who will truly look after you and your investment. The staff at Paul Ruane are well versed in the Spanish property system and will help you every step of the way from start to finish and well beyond.

Why not become a fan of Paul Ruane on Facebook as well as following them on Twitter, Flickr and Youtube.

Up until the year 2000, anyone selling property in Spain had to be a member of the one of the two professional real estate associations – API and GIPE. Now, since the market was deregulated in 2000 basically anyone can play the role of intermediary in Spanish property transactions.

When buying a property in Spain, your biggest risks often come from your choice of estate agent. Their levels of competence, attitude and ethical standards can greatly effect the success or failure of your investment.

Although there certainly are some that should be avoided, thankfully there are many highly trained, very competent and ethical agents in the Spanish market. The challenge is finding them.

Types of Real Estate Agents in Spain
Before you choose an agent, it’s a good idea to get a brief understanding of how the market works. There are several types of agent – all offering varying levels of service.

Spanish Estate Agents
A lot of the Spanish agents belong to the API or GIPE professional associations. This should indicate a higher level of training and professionalism. The problem is that these titles are often abused so in some cases aren’t really a true guarantee of professional service.

Spanish agents normally just sell property in their local area. Sometimes they’ll have nationwide chains and networks throughout Spain and the Canaries.

Most of them don’t speak English, so this can be a problem for UK buyers. In the popular coastal areas (Costa del Sol etc.) you’ll find an increasing number of Spanish agents with English-speaking staff.

Foreign Estate Agents in Spain
It’s usually the case that a UK family looking to buy a place in Spain will instinctively go to an English or Irish-run estate agency.

Foreign owned-and-run estate agents normally try and sell to buyers from their home countries. British and Irish agents focus on buyers from the British Isles, the Germans focus on the Germans etc.
Most foreign agents are now adopting English as their operational language.

Setting up as a real estate agent in Spain is very easy. Ever since the market was deregulated (2000) no qualifications are required and barriers to entry are low.

Foreign estate agents in Spain have come under much criticism over the years. Unfortunately, there’s been a number of cases where these agents have been found to be incompetent or unscrupulous or in some cases both.

You’ll find them mainly in the very touristy areas like the Costa del Sol, Costa de Almeria, Costa Calida and Costa Blanca. A lot of times the commissions charged are blatantly excessive and the level of service low.

Outrageous (time-share style) pressure-sales techniques are often used and in some cases agents tell clients half-truths; anything to close a quick sale.
Be warned – such companies do exist.

UK-based Estate Agencies
There are more and more UK-based estate agencies offering Spanish property every year. They’ve been drawn into the market by the huge numbers of UK buyers that are looking for property in Spain and the very high commissions they can make.

Multi-listing Networks
This is where a group of foreign estate agencies participate in a network where they share clients, properties and commissions. For example, one agency might have a buyer but not the right property, while the other agent has that property but not the buyer.

They collaborate with each other, make the sale and “split” the commissions – everyone’s happy; you get the right property and they make the sale.

The only problem is that instead of splitting the commissions between themselves, they more often than not increase the commission. So the buyer pays an inflated commission for a service of little extra value.

Spanish Corredores
In rural parts of Spain, corredores are still used extensively. These are property brokers that know the local community extremely well and know when someone wants to sell their property.

If you’re looking for a place in a rural community, using a corredor is a likely to be your best option. It’s doubtful however, that they’ll speak any English, so be sure to bring an English/Spanish friend with you if you don’t have the lingo.

It’s usually an informal arrangement but there’s no reason whatsoever to think that a corredor might be less trustworthy than your average foreign estate agent.

They’re certainly a lot cheaper. They’ll often just charge a commission of 1% to the buyer and 1% to the seller. Some foreign agents add on commissions of up to 35%.

Corredores can often be difficult to locate, as they don’t usually work from a commercial premises. But, if you ask around the local community, you should eventually find one.

One of this year’s hottest new developments is Mirador de Lobos Golf, set for completion early next year – January 2008. It comes from Montaña Roja, the Canary Island’s number one real estate agent and property developer.

Fuerteventura is the most up-and-coming investment area in the Canary Islands at the moment. With fantastic pristine virgin beaches, a very favorable climate, great rental potential and good value properties, one can understand why.

Mirador de Lobos Golf
Mirador de Lobos consists of 150 high quality semi-detached villas and duplexes. All properties have three double bedrooms, two bedrooms, a guest bathroom, a large lounge/dining room and a separate kitchen. All these properties are surrounded by their own stunningly beautiful private golf course.

If that wasn’t enough, each property also has its own private garden and spacious roof terrace with excellent views out over the surrounding landscape.
Mirador de Lobos is located in one of the most privileged and exclusive parts of the island – Parque Natural area of Corralejo, in northern Fuerteventura.

This area has some truly spectacular natural landscapes and offers an excellent quality of life for anyone living there. It’s in big demand with investors too; investors looking to make significant returns on investment.

Just think, in a few months from now you could be playing golf (on your own private course) in the middle of winter, surrounded by the Atlantic Ocean and the endless blue skies in just shorts and a t-shirt.

Why choose Fuerteventura?
Apart from having the best beaches in the whole of Europe, Fuerteventura has excellent investment potential.

Fuerteventura is located just 100 kms from Africa’s Western Sahara Desert. It’s the second largest of the Canary Islands and enjoys over three thousand hours of sunshine a year.
It’s a surfer’s paradise with excellent wind and wave conditions right throughout the year. It’s becoming more and more popular with UK and Irish investors.
The Canary Islands haven’t been affected by the recent property slump on the Spanish mainland. Demand is still very high for properties here. One of the main reasons is of course, the climate. The Canary Islands have year round sunshine and warm water and air temperatures right throughout the year.

Even in some of the most popular tourist destinations in southern Spain, it can be surprisingly cold during winter. The Canary Islands are the only place in Spain where you get guaranteed sun and warmth, making them the only genuine “winter sun” destinations in Spain.
For buy-to-let investors, they can charge tourist prices all year round. For people actually living here, they can enjoy living in an extremely pleasant place.

Apart from the beaches, climate and excellent quality of life, Fuerteventura has a growing expat community, a continually improving infrastructure and is now very accessible from most UK and Irish airports. It’s still remains free from the mass tourism, you often find on the other Canary Islands.

Background (Montaña Roja)
Montaña Roja is widely regarded as one of the most reputable real estate agents in the Canary Islands. After over ten years in the business they’ve established themselves as the Canary Island’s number one Real estate agent and property developer.

What distinguishes them from other property companies is that they work as both a real estate agent and a developer. This means that (by not using intermediaries) they can offer clients the best prices in the market. You’re effectively buying from the developer.
They also have a wide range of property types on their books.

At Montaña Roja, you’ll receive top class customer service that extends way beyond just finding you a property. They provide a comprehensive all round service covering everything from mortgages to surveyors and surveys.

Contact details
Montaña Roja
Gestión Inmobiliaria Montaña Roja. S.L.
C/. Nuestra Sra del Carmen, 40
35660 Corralejo
Fuerteventura, Canary Islands, Spain
Sales Office New Developments
Phone: 00 34 928 537 301
Phone: 00 34 928 866 337
Fax: 00 34 928 867 614
Fax: 00 34 928 867 481
Email: info@Montañaroja.com

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