Estate agents need to adjust to the times

Dear Editor

What an interesting read in last week’s Algarve Resident ref. “Property on the Move”…it reminds that Real Estate agents tell us that we need to have our properties correctly priced and err, oh yes, – some reductions are still not sufficient as some places were/are overpriced in the first place.

Will as a result of such reviews mean that Real Estate agents will now cut their “overpriced” commissions of 5 % (plus don’t forget the IVA!) for their “work”.

After all, in the UK estate agents can exist on commissions of 1% – perhaps then Real Estate agents here can move with the crise times – if everyone is having to take a hit on their properties its about time they cut their rates too.

John Martin

By email