Do you know that most listings are from real estate agencies?
In Madrid, a high percentage of properties are rented by real estate agents. But the big difference with other cities is that there are also an importan number of properties marketed directly by the owners (or “particulares”, according to local denomination).
—I, myself, prefer to deal with homeowners a thousand times —says Almu.
—Not me! Every issue is taken care in a more professional way with an agent —answers Palo.
—But the landlord cares more about all the details.
—Exactly! Many times being so thorough is a complication.
—Will you deny me that individuals are more flexible?
—Yeah, I have to admit that. They are more accessible to any negotiation.
It’s a fact that it varies depending on the area and price range
The higher the price and the more exclusive the area, the less private owners we’ll find listing their property.
—Agencies know the real estate market better and adjust prices more —counterattack Palo.
—Absolutely, perhaps that’s why they’re less flexible —says Almu.
—And, thank goodness, they don’t charge the tenant anymore.
—Yes, since the end of May 2023.
—But only when it is a rental of a permanent residence in accordance with the LAU.
—Right! the real estate sector is a world, it exists everywhere but in each one it has its own singularities.
There are thousands of real estate agencies in Madrid
Many of them have years of local experience and some even international. They have survived the severe crisis of these years and now new Agencies are emerging. We find all sizes, large national or international companies and also small agencies usually specialized in a specific area.
—Do you remember what happened with Peter? —Almu asks.
—Sure! How could I ever forget? —Palo answers.
—If it hadn’t been because we had signed the pre-agreement (“señal”) with the real estate company, he would have been left without his “A” option.
—Good thing we’re ahead of the competition candidate!
—Even if signing the pre-agreement (“señal”) is a nuisance, when not negotiating directly with the landlord is a way to insure the home against other applicants.
Dealing with real estate agents or private owners is very different
With private landlords the whole relationship is simpler, you two mark the timing and the process. Always keep in mind that until the contract is signed, there’s nothing for sure.
On the other hand, with real estate companies, the process is standardized and there is no alternative but to follow it. As soon as you communicate that you are interested in renting a specific property, the agent contacts the owner and if the owner agrees, you sign a pre-agreement (“señal”), then the property is reserved until the contract is signed. When you sign that document, you usually have to make a deposit of one month’s rent.
—It can get complicated when there are several real estate agencies involved —says Almu with a broken voice.
—Yes, all of them listing the same property! —shouts Palo, encouraged by the challenge
—And if the owner also market it, we find the perfect storm!
Luckily, you have the solution at hand
To land in Madrid with your homework done and your ideas clear: in The secret of relocating to Madrid you’ll find answers and tips. And you’ll arrive in Madrid confidently. If, in addition, you need help with the organization or if you prefer we accompany you, check out our services.
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