It is typical in Ecuador to pay a fee to the agents who are scouting properties on your behalf and showing you around. At first, this really went against the grain of how we at International Living are accustomed to doing business, but after a few years of struggling to find the best buys on inexpensive properties, it’s come through as the best method.
For starters, unlike a “normal” real estate company, many of these people are showing properties that they learned about by word of mouth or from the local papers. Often the owners of these less-expensive properties are not willing to list with an agent and won’t pay commissions. We’ve found that straying from the agencies has led us into a whole new market, where the buys have been much better.
What you get when you hire this type of contact is a personal agent who is working for you, rather than for the seller’s commission. For the fee that you may pay them, they’ll be at your beck and call, being your representative for any number of tasks. When a commission is paid by the seller, the daily fee is often refundable.
Of course, there is still a multitude of good real estate companies that work in the traditional fashion. Their commissions run between 3% and 5%, and are normally paid by the seller.
Regardless of who you use, you’ll get the same good service. Just be sure to clarify terms or fees up front.