Real estate agents in Chile

How they work and what to watch out for

Real estate agents in Chile

Unlike Europe and North America, real estate agents in Chile are completely unregulated. Anyone can become an agent. For this reason, expats should be aware of what to expect from an estate agent.

In general, real estate agents represent the property seller, and only the seller. Despite this, their commission is paid half by the seller and half by the buyer. Commission is usually between 1.5% and 3%. This can be negotiated, especially if the agent had little or nothing to do with you finding the property.

It is common for properties in Chile to be listed with several agencies and often the agent won't know the seller until they find a buyer. 

Estate agents range from large, reputable companies, to a local person who knows what’s for sale in the area. Agents tend to be very knowledgeable about their region, so you should contact one that works in the area you wish to move to. By doing this, you should be able to get the best deals and view a property as soon as it becomes available.

Things to note

  1. Never allow an estate agent to draft contracts or conduct a title search - These must be done a qualified attorney. Real estate agents are prone to telling you what you want to hear and are often not qualified to carry out these tasks.
  2. Don’t employ an attorney suggested by your agent or the seller - It’s always advisable to employ an independent lawyer that you find. This way you avoid potential conflicts of interest in the buying process.

Further reading

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