Real Estate Agents in Greece
|Real Estate Agents in Greece|
General information on Greek Real Estate Agents' law
There is no stipulated limit under the law in Greece for the fee that must be paid to real estate agents. Real estate agents can also request a fee from both the property's Vendor and Purchaser, which is not prohibited under the Greek legislation. It is a matter of private agreement between the real estate agent and each client.
This fee plus VAT of 23% is usually calculated on the final and real value of the sale of the real estate. The agents' commission is only payable when the contract is concluded as a result of the agent's activity, except if the parties have agreed otherwise.
Doing business only with licensed real estate agents
Any person performing real estate agency activities in Greece must hold a valid real estate licence.
For the unlicensed real estate agent this means that he has no substantiated claims for the amount of the agreed commission. On the other hand, customers who have already paid an unlawful commission may put forward claims of unjust enrichment of the unlicensed agent requesting refund of the unduly paid fees.