How to find a good estate agent in Portugal.
One of the first things you will need to do if you are hoping to make your Portugal vacation home property dream a reality is to find a good estate agent.
But what should you be looking for in a Portuguese estate agent? And how can you tell a good estate agent in Portugal from a bad one?
Fortunately Portugal is one of the few countries where estate agencies are formally regulated. This therefore provides some protection for people buying property in Portugal.
It is however prudent to exercise some caution when dealing with estate agents in Portugal. There are a number of rogue agencies in Portugal who are not practising legally. You should therefore always ensure that you are dealing with a reputable and legal estate agency.
Estate agents in Portugal must undertake specific training and hold appropriate professional qualifications. Portuguese estate agents must also be registered with the government in Portugal and have relevant insurance, which would protect you against financial loss should something go wrong.
You can check out the estate agent’s credentials, by contacting the . (INCI) the governing body which regulates estate agents and builders in Portugal.
The INCI will also be able to give you details of estate agent’s insurance as well as the expiry date of the estate agents licence which should be renewed every 3 years.
You should also check that your estate agent has an official AMI licence number (Associacao de Mediadores Imobiliarios). This will normally be on display in their premises and should also be provided to you upon request.
The AMI provides an avenue or complaints should you encounter any problems with a licensed estate agent in Portugal.
The purpose of estate agents in Portugal is to market properties for sale and to help negotiate the sale of properties.
A good estate agent may also provide additional information about local amenities and local contacts.
Estate agents should not provide legal advice. Once an offer for a property in Portugal has been accepted your Portuguese property lawyer, who is independent from the estate agent, should take over from that point.
By having an independent lawyer in Portugal you can ensure that your lawyer is acting only in your interests and not in the interests of the estate agent who’s aim is to ensure that property sale proceeds so that they can receive their commission.
Good estate agents will encourage you to choose your own independent lawyer to undertake the relevant investigations of the property and provide their legal advice before you proceed to complete the purchase.
Estate agents should not pressure you into making any decisions. Take your time, do your research, thoroughly review your options and enjoy the process of buying your dream holiday home in Portugal!
For more information about how to find an independent English-speaking lawyer in Portugal, please contact Worldwide Lawyers on or at .
Click on any of the above photos to view these exclusive vacation home exchanges in Portugal.