Liaising with Other Real Estate Agents on the Costa del Sol
VIVA leads the way when it comes to working with other real estate agents on the Costa del Sol. We are always pleased to share our extensive portfolio of properties – the largest on the Coast – with legitimate real estate colleagues, and we find that we are invariably the first ones contacted when other agents have a buyer but no suitable properties.
Here VIVA’s client services director Greig Hayes explains exactly how the practice of a multiple-listing estate agency works on the Costa del Sol – to the benefit of our vendors.
What does the VIVA agents services team actually do?
Not all buyers can, will or even should come to VIVA directly. However, every one of our vendors wants to have their property presented to every single buyer, agent or introducer out in the market. That's exactly what our agent services team does and delivers on.
How do you achieve that?
We list thousands more properties than anyone else could ever contemplate, and in every area of the Coast. We communicate weekly with nearly 2,000 individual agents and companies on the Costa del Sol, informing them about our listings availability. We operate via highly effective email strategies, smart networking and co-partnership agreements, and use our many years of experience to support all our vendors. Quite simply, we just make it all happen. That is what we do... and we like to think we are the best at it.
Are there really that many agents on the Costa del Sol?
Actually, there are a lot more. One survey, as Spain emerged from its crisis years, showed that more than 4,000 businesses had been registered for the purposes of selling real estate in Málaga province. Over the years we've learnt how to make this work to the best advantage of both our vendors and our buyers.
Are these companies “real” real estate agents – or something different?
Very few are traditional real estate agents with office premises. A survey by the DBK consultancy group found that 71 per cent of businesses registered as Spanish property companies had zero employees, and that only three per cent of companies involved in the sale of property had more than five employees.
So, in effect, a vast majority of these companies are “one-man bands”?
Yes, operating from spare bedrooms and kitchens – but let's not be too hard on them. The Costa del Sol has developed its own unique market environment of people working in real estate, and if you're a vendor you need to reach out to the entire market. We didn't invent how things are today, but we do make it work dynamically – to the ultimate benefit of our vendors.
Is VIVA's service unique or are there others doing what you do?
No one else on the Coast has the infrastructure for listing, marketing, sales and administration or the office network that we have, so there is no one like VIVA. A simple review of our website clearly demonstrates all of that… and more.
Does pretty well everyone representing buyers come to VIVA?
Yes, regularly. Ninety per cent of agents are simply not interested in listing properties for sale. It takes a great deal of time and energy and considerable financial muscle to provide and apply the necessary resources to list properties efficiently and professionally – and be ready for sale. Most agents find it is simply not viable for them to do so, which is why VIVA is always their first port of call.
There must be other companies who list properties for sale by vendors?
Yes, of course. However, having done so, many of them will want to keep their own active listings away from the several software sharing platforms available to agents. It's often a question of resources, as almost none of them would have the staff, or the time, to process other agents' viewings. Nor do they want to share their commission fee agreements with other agents.
So does VIVA have the trust and confidence of other agents?
Yes, far more so than any other agents. Over the years VIVA has split its commission fees with more than 1,000 different referral agents and introducers... from multinational blue-chip agencies to local introducers. We work as hard for them and their clients as we do for our own.
If VIVA does all the work, surely that means other agents must take most of the benefits proportionately?
Yes, on an individual case-by-case basis that would be true. VIVA pays a minimum 50 per cent and up to 80 per cent of its total commission fee to local and partner agents for their client introductions. As almost 90 per cent of introducing agents have low to no overhead costs, we can safely say that, even as the biggest agent in the market, we receive far and away the lowest average fee and smallest slice of the cake.
How do you make this work for yourselves – and us?
Selling private vendors' homes is what we do. And we will always do whatever it takes to make that happen. If a big part of that requires us to open our inventory of listings to all agents and their buyers, then that is exactly what we will do. We work to a completely different level, economic scale and business model than anyone else in our market. Our vendors need viewings, so we go out and get them... that's what sells property.
VIVA does far more to sell your property than anyone else. How do we do that?
- Dedicated team solely for vendor services
- Exceptional professional imagery
- Regular email updates and market analysis
- Outstanding web presence and exposure
- Unrivalled experience and local knowledge
- More offices, more buyers… more infrastructure