Estate agents in Portugal
As an international buyer in Portugal, finding the right estate agent in Portugal makes a huge difference when you’re searching for your dream home. A good agent will help to make the buying process stress-free. They will also ensure you make the best of the time you spend in the country on a viewing trip.
The good news is that estate agents in Portugal are regulated. All estate agents must train in Portugal for their profession, be registered with the government and display an official Associacao de Mediadores Imobiliarios (AMI) licence number on their premises.
If you need to check the credentials of an estate agency in Portugal, contact the Instituto da Construcao e do Imobiliario. As well as being able to check for AMI registration, you have an avenue of complaint if problems arise.
While registration is mandatory in Portugal, it doesn’t guarantee there aren’t rogue players operating outside the law. It’s therefore important to ensure that your estate agent is legal and correctly registered. In particular, you may come across “cowboy” agents in tourist areas. Mistakenly dealing with such people can prove stressful and costly.
For added security, you may also wish to find an agent who is a member of an international body, such as the European Federation of Estate Agents.
How to choose a reliable agent
In terms of qualities, you’ll want an agent who:
- is proactive and offers a good service
- answers questions promptly – send them a brief before you go out and see how quickly they respond
- understands the market and the politics and planning in making things happen
“The best agents will show you the areas, show you the properties, explain the buying process, explain the up-front fees, explain the ongoing fees and take care of you when you have found the perfect place,” said David Rowat, founder of Olive Homes Portugal.
“Extra services, usually offered free of charge, can include opening a bank account, connecting the utilities, introducing a solicitor and taking care of additional requirements such as furniture, removals, surveys and mortgages.”
Property Guides and Your Overseas Home have an extensive network of reputable estate agents that we can refer you to.
If you don’t speak or read Portuguese, ensure the estate agency has English-speaking agents who have good communication skills.
The importance of a reliable estate agent
A good estate agent will be your expert on the ground in Portugal. They should be founts of knowledge about various neighbourhoods, the best places to eat, transport, schools, hospitals and more.
Your agent should be willing to help. Contact them with a brief rundown of your requirements and see how long it takes them to reply. This can be a good gauge of how easy they’ll be to get a hold of further down the line.
Building a solid foundation with your estate agent is key. Being honest about your ‘essential’ features and the things you’d be willing to sacrifice can help them understand what you’re looking for in a Portuguese home. After all, sometimes it’s hard to imagine what you’re after until you find it.
Questions to ask your estate agent in Portugal
For international buyers in Portugal, asking questions is crucial to gaining a full picture of the properties you’re interested in. Having a good dialogue with your estate agent means that you don’t write off a property without reason. After all, you’re likely spending a lot of money, so you want to get it right.
Here are a few questions that will help you gauge whether the price is right or if there could be room for negotiation.
- How long has the property been on the market and have there been any offers?
- Has the price been reduced?
- Have there been any similar properties sold nearby? How much did they sell for?
- What is the reason for selling?
- How long have the current owners been there?
- Have there been any recent renovations?
- What would the estate agent do with it if he or she were buying it?
- Are there any additional fees e.g. shared facilities I should be aware of?
- Are there any restrictions on rental?
- What are the local amenities like?
Working with your estate agent
Your estate agent can only do as much as they can with the information they’re given, so the more they know about what you’re looking for, where you’re interested in buying and the purpose of your purchase, will help them find the perfect place for you.
They may suggest properties outside the area you have specified, but don’t be too quick to shut them down. It’s likely that your estate agent has suggested these properties as they tick almost all your boxes and you never know, the property could end up being better suited to you than your original location.
Please note: If you show interest in a property while you are house hunting in Portugal, it’s likely that the agent will offer to put you in touch with their own friendly lawyer to assist with the sales process.
There’s nothing to say that there’s any ill-intent here, but it’s always best to select and hire your own lawyer. That way you know that they are working entirely in your interests, without any conflicts.
Ready to buy and your estate agent’s role
If you like what you see on a viewing trip, you can make an offer right away. You should build a good relationship with your estate agent, but do not let that get in the way of negotiating a fair price for your property. Be firm, charming and, crucially, well-researched on local prices, so that you can ask for the right price.
They shouldn’t push you to make a hasty decision and you shouldn’t feel pressured by them. You are well within your right to consult with your lawyer and currency specialist before making any a decision.
When you’re ready to make an offer, your estate agent will do this on your behalf. You may be required to pay a reservation deposit for the seller’s agent to take the property off the market, you will also need to ensure you have an NIF number if you haven’t got one yet (tax identification number for foreigners).
For insight on estate agency fees, head to our costs of buying in Portugal page