Kibkom North Cyprus Forum

From my WhatsApp

"Hello, thank you for your interest, your house is very nice, I would like to take care of it, but lately all our sales belong to customers coming from abroad and different real estate offices, so we give half of the service fee to them. If you want it to be sold quickly and in this way, our service fee is 10%"

I'm not naming the agent but they are a big one ..

I actually didn't decline ..but told them I wanted 5 % more on the sales price ..they said it was then too high..

I'm sure they are a registered agent ..I thought 5 % was the legal limit for resale but I'm.aware off plan are offering huge 20-25% commissions..

It's all going to end in tears with such huge monies being earned ..

Even 5% is disgusting. That and the 12% purchase tax.

I would tell them to leave in a series of short physical jerks appertaining to sexual intercourse!

This situation will come crashing down,I saw the same happen in Spain over building and not enough buyers so builder's ran and the banks were left with the skeletons of villas so the banks were selling them off for the best they could get and the same is happening here and the infastructure will not take the strain

Yes it's the off plan buyers who will get hurt the most.
The huge commissions doesn't add up ..your right about the comparison to Spain ..scam agents descended from outside the country got paid huge commissions to sell over priced property then vanish when it goes belly up. Going to be exactly the same here .

Turkey as a huge problem to the price of property has Rocketed even in £ terms due to artificially low relative interest rates ...now hiked to 40% it's about to come crashing down..

Same rates here apply but much fewer properties bought on credit ...can't see many applying for TL mortgages though with c 50% interest ...