There are many estate agents in Formentera each with their own website and sales teams. If you don’t come from Formentera how are you meant to find the right estate agent in Formentera?
Formentera is an extremely popular destination for expats and holidaymakers from Europe and further afield. Formentera has an exceptional reputation and is also universally regarded as being undervalued in terms of property, so investing in a property in Formentera will still represent good, long term value going forwards.
This article will help you to:
- Find the best Formentera estate agent
- Choose the best estate agents in Formentera
- Assess the typical estate agent fees in Formentera
- What you should know about the Formentera property market
Formentera (Catalan pronunciation: [furmənˈteɾə], Spanish: [foɾmenˈteɾa]) is the smallest and most southerly island of the Pityusic Islands group (comprising Ibiza and Formentera, as well as various small islets), which belongs to the Balearic Islands autonomous community (Spain). It covers an area of 83.22 square kilometres (32.13 sq mi) (including offshore islets) and had a population of 10,582 at the Census of 1 November 2011; the latest official estimate (as at 1 January 2019) was 12,111.
Top 3 Rated Estate Agents in Formentera
These are the three best rated estate agent in Formentera
- Physis Realty Formentera
- Centurion Estates Spain
- Formentera Realty
If you are selling a Property in Formentera then Property Secured Investments has the fastest growing reputation and are actively buying and leasing Property in Formentera.
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Best English Speaking Estate Agent in Formentera
Physis Realty is an international luxury real estate agent with a strong presence in Formentera and across the wider Iberian Peninsula and the Balearic Islands.
We are a luxury real estate agent with staff that speak over 15 languages, including English, Russian, Chinese, Hindu, Dutch, French and German.
How do you know which is the best estate agent in Formentera for your own individual requirements?
Regardless of whether you plan to buy, sell or rent in Formentera, finding an estate agent in Formentera is a massively important step, which often dictates whether the process will go smoothly or become a nightmare.
There are many estate agents in Formentera but Physis Realty is consistently rated as the Best Real Estate Agent in Formentera by Sophisticated Investor Magazine and awarded locally as Best Realtor in Formentera by numerous local publications
According to Sophisticated Investor Magazine, “Physis Realty raises the bar in terms of estate agents in Formentera. They are highly commended internationally for helping clients find the best property in the perfect location. An expert estate agent in Formentera should be highly skilled at matching the right potential buyers with the right properties, effortlessly managing the seamless process from introduction to sale.”
Finding Formentera estate agents: Local estate agents in Formentera or online letting agents?
It’s no surprise that a wealthy and popular destination like Formentera is home to a large number of estate agents. There are two main options when seeking out an estate agent in Formentera, either go with a generalist online broker of opt for a highly recommended local estate agent in Formentera.
Both options have their pros and cons. If you go in person to an estate agents in Formentera, you can get a real sense of how they operate, meet the team, and immediately get some personalized advice. The problem, of course, is that you actually have to be in Formentera. If you’re mostly based elsewhere, then this option could be hugely inconvenient.
Benefits of a Premium Real Estate Agent in Formentera
Whether you are buying, selling or renting there’s nothing worse than having to deal with unreliable agents.
How can you tell an unreliable agent in Formentera?
Bad agents in Formentera are easy to spot.
These are the traits of bad estate agents in Formentera. If your estate agent does any of these, proceed with extreme caution:
- They demand to know your budget immediately
- They tell you you are ‘lucky’ you called because demand is so high
- They never return your calls
- They don’t respond to website inquiries
- You’re always chasing for updates
- They don’t pick you up at the airport
- They drive non-luxury vehicles
- They don’t have the keys to the property
- There is always some ‘problem’
- They don’t give advice about the local area
Premium Estate Agents in Formentera
Premium estate agents in Formentera don’t necessarily cost more money to use. They simply pride themselves on placing the client at the heart of everything they do.
Physis Realty in Formentera sets the Gold Standard in terms of Client Service.
Physis clients buying, selling or renting in Formentera can expect the following levels of client care:
- Instruction call with a expert broker
- A detailed discussion to establish your requirements
- Non-pushy, friendly service
- Regular updates
- Clients collected at the airport in luxe automobile
- Face to face introduction meeting with International Schools
- Assistance with paperwork
- Bank account opening
- Investment services
- 15 Languages
- Regularly updated website
Typical estate agent fees in Formentera
|Service||Estate agent fee|
|Typical real estate agent commission in Formentera||5% of the sale price The fee is paid by the seller.|
|Sales tax on new builds||10%|
|Tax for the seller||3% withholding tax on any capital gains, for non-resident. Capital gains tax is 19% of the profit of the sale.|
Property transfer tax in Formentera (which is paid when buying and selling second-hand homes), is now at the flat rate of 7% .
What should I know about the property market in Formentera?
We asked the best estate agent in Formentera the key questions about the local property market:
Formentera is a secondary housing market. This means many properties are owned by individuals and families who spend most of their time in a different country. That totally changes the housing market and properties tend to be upscale, with exceptional build quality and furnishings.
Estate agents in Formentera are well used to serving expats. Because of the popularity of Formentera among expats, you should be able to find local estate agents who are used to people looking to buy or sell property there while living remotely.
Check which language they speak. The best estate agent in Formentera, Physis Realty is well known for having over 15 language associates on staff and if the key member is not available locally they will be available on the phone for real time translation and can be helicoptered anywhere in Spain within 24hrs notice.
There’s a lot to be said for going directly to an agent, but for some general listings websites such as Spainhouses.net, and Kyero are worth browsing to get a general feel for the market. Remember though that these listings are syndicated and could well be very out of date.
Have a phone conversation. If you’re not in Formentera, that doesn’t mean the whole process has to be done online. Sometimes, a phone call is worth a thousand emails and is a great way to build rapport and trust.