BulgarianProperties - ridiculous selling fees

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rgawith
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BulgarianProperties - ridiculous selling fees

Postby rgawith » Thu Apr 02, 2009 5:14 pm

I have just emailed BulgarianProperties about selling my properties. They have come back and said it is 3000 Euros commission per property. This is absolutely ridiculous. Some of my properties are only worth 10,000 to 15,000 Euros, so 3,000 Euros is just stupid for selling these. Apparently this includes preparing documents etc but all paperwork in order so just a case of notary preparing new deeds and am sure this is not included.

The 3,000 Eurors, or actually closer to 30,000 Euros in my case of all houses would buy a huge media campaign.

And I know that BulgarianProperties add a massive amount on top of actual price purchasers are getting.

Completely ridiculous.

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Postby scot47 » Thu Apr 02, 2009 5:36 pm


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on ebay

Postby rgawith » Thu Apr 02, 2009 6:04 pm

Yes on eBay at the moment as one portfolio. But have contacted a number of agents just to see what their fees were and what they could offer.

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allet
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Postby allet » Thu Apr 02, 2009 6:48 pm

It amazes me what some agents charge!

Please don't see this as self-publicity but the way I work is I charge a % of the selling price with no charge to the buyer, people need to know that not all agents charge silly fees!

Agents need to realise, the time for quick easy gains have passed.

Time will show who the "good" agents are, the ones who will still be around in 12 months time.

Good luck with finding an agent.

Kind regards

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Postby theweeton » Thu Apr 02, 2009 7:01 pm

I agree with allet (just in his recent post on this thread) agents exist because sellers use them.

If you think the agent is selling over the odds insist the correct selling price is written on the paperwork.

If you dont like his terms vote with your feet

Agents cannot be blamed for everything there are other people involved..the buyers and the sellers also in their own way have a lot to answer for.

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Postby mathew » Thu Apr 02, 2009 7:05 pm

Hello All
I bought my apartment in Varna using Sunny properties and paid 2,5% fee.
Do not know what they charge for selling, but you could try them.

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premierboy
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Postby premierboy » Thu Apr 02, 2009 7:08 pm

Hi,

3,000 euros is a fair price.

what the agent is left with after fees and taxes

500 Euros 20% Vat
300 Euros broker fee foe selling
250 Euros 10% company tax.

1,950 euros

Then the agent has running costs,

Staff wages, + social security
office rents,
wear & tear of car
Car insurance, 4-5 % of current price of the car
service for the Car
Car tax only cheap i know
Petrol
Office phone
mobile phone
internet
Advertising costs
Last edited by premierboy on Thu Apr 02, 2009 7:59 pm, edited 1 time in total.

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fair? really?

Postby rgawith » Thu Apr 02, 2009 7:15 pm

What 3000 Euros commission is fair even when they already had several thousand on top of the price the seller gets? Hardly!

I have worked in the property sales business for close to 4 years now in Bulgaria and worked with and know many agents. The usual as I know is 3% commission based on selling price or 500 E minimum.

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Postby mathew » Thu Apr 02, 2009 7:20 pm

Hello premierboy
I am sure you need you to learn how to make money the normal way :D
The wages are very "high" in Bulgaria, Bulgarian wages are peanuts, and if the rea wants to drive in an expensive car to impress the girls than it is his problem.
Road tax and insurance is a laugh if you compare this with western countries.
If you work this way than I wish you lots of luck to find any clients.
You also refer to company tax, since when do rea pay company tax on the full price, most of the time houses and apartments are sold and the deeds at the notary show a much lower selling price.

Regards
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Postby theweeton » Thu Apr 02, 2009 7:24 pm

mathew wrote: most of the time houses and apartments are sold and the deeds at the notary show a much lower selling price.
Mathew


And whose fault is that, the agent or the buyer and seller


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