Cyprus-Forum.com

[Peterc]

I understand that a group of licenced agents put pressure on the government to close Buysell.

Like Grump I have heard good things about Buysell and from any contact I've had they were professional. I believe they got 'around' the lack of licence by stating they were simply marketing property and charging a fee for this marketing, not as sale commission. They are good at marketing.

I have also had bad experiences with 'licenced' agents. It is about time the monopoly ended with the more unscrupulous agents. Give them more competition that is controlled.

So if if Buysell get around the licensing thing by stating they were marketing a property and charging a fee for this marketing, then the sale is not a sale, therefore commission does not apply....Fantastic Marketing!

except that they charge between 8% and 10% of the asking price(not the selling price)

So, what should the % be if they sell it??

licensed agents charge betweem 3 and 5 % by law

[psycho]

I understand that a group of licenced agents put pressure on the government to close Buysell.

Like Grump I have heard good things about Buysell and from any contact I've had they were professional. I believe they got 'around' the lack of licence by stating they were simply marketing property and charging a fee for this marketing, not as sale commission. They are good at marketing.

I have also had bad experiences with 'licenced' agents. It is about time the monopoly ended with the more unscrupulous agents. Give them more competition that is controlled.

So if if Buysell get around the licensing thing by stating they were marketing a property and charging a fee for this marketing, then the sale is not a sale, therefore commission does not apply....Fantastic Marketing!

except that they charge between 8% and 10% of the asking price(not the selling price)

So, what should the % be if they sell it??

licensed agents charge betweem 3 and 5 % by law

So why do the licensed UK agents charge between 1 and 2%....and they don't have to speak Greek or Turkish!!

[Svetlana]

The reason that there is such a huge difference in commission fees between the two countries, Psycho, are:

Volume - most UK Esate Agent offices will sell many times more property than most Cypriot companies each month

Price - UK property prices are so much higher than those in Cyprus a small commission level still yields major returnd

Source of Revenue - most UK Estate Agents actually make their profit form selling financial services - such as mortgages etc.

Lana

[psycho]

The reason that there is such a huge difference in commission fees between the two countries, Psycho, are:

Volume - most UK Esate Agent offices will sell many times more property than most Cypriot companies each month

Price - UK property prices are so much higher than those in Cyprus a small commission level still yields major returnd

Source of Revenue - most UK Estate Agents actually make their profit form selling financial services - such as mortgages etc.

Lana

Thanks for that. I think most estate agents in the UK are a bunch of robbing, unqualified, lying bas**rds who know jack sh1t about houses.

[Svetlana]

I ma just checking that post for 'f's


Lana

[psycho]

I ma just checking that post for 'f's


Lana

I thought I was OK for the 'F's today? Have you had a go at Game 3 yet?

[coredump]

Is it just me or not?
I have a feeling that all this "licensing" thing in Cyprus is about protectionism only. You can get licensed only if you worked for 8 (sic!) years for one of licensed agents, are able to take an exam in Greek/Turkish and have an "academic qualification in real estate" (do you really need to have a university degree to be able to sell real estate?). If you can satisfy all of the above, then maybe that association of existing licensed agents will grant you a license (are they really interested in competition? )

Edit: Well, if the above mentioned Cyprus Mail's article is correct than my information about 8 years is outdated. But still all this thing is just about protectionism.

[Peterc]

Is it just me or not?
I have a feeling that all this "licensing" thing in Cyprus is about protectionism only. You can get licensed only if you worked for 8 (sic!) years for one of licensed agents, are able to take an exam in Greek/Turkish and have an academic qualification (do you really need to have a degree to be able to sell real estate?). If you can satisfy all of the above, then maybe that association of existing licensed agents will grant you a license (are they really interested in competition? )

I agree 100% with you!!!!!!!!! However this is the law of the land.

There were loads of issues i had about uk laws especially the taxes i paid that went towards lazy bums who prefered to stay on the dole rather than go out and get a job.

I had a choice, 1.either stay in the uk 2.dont pay taxes 3. come to cyprus and struggle to understand some of their laws

[coredump]

I agree 100% with you!!!!!!!!! However this is the law of the land.

Yes it is a law. But such an anachronistic and protectionist law is undemocratic and should be challenged and abolished/amended.
I guess that what BuySell does can be the first step to change the whole system.

[beverley10]

In my experience of "estate agents" in Cyprus,I have absolutely no idea of why their charges are so high when their service is nil!! I contacted by phone and e mail and in person several last year and not one of them kept appointments made,answered phone messages or e mails.No real advertising seems to be made and most seem only to be interested in "off plan",presumably because they make extra commision with "reccomending" white goods sellers,furniture packages,air con and tv packages,car hire etc etc etc.Another instance of the greed and total lack of professionalism shown by the vast majority of "estate agents" over in Cyprus. If you are the unlucky owner of a property to sell in the resale market,you have no chance.For 5% commission,I would be falling over myself to try and find a buyer for a customer!!