Initially established in Italy 1979, Tecnocasa has expanded its real estate operations across its borders, now encompassing 9 different countries. It expanded into Spain in 1994, giving it over 3 decades of experience in the Spanish real estate market. It has become amongst the major real estate contenders in Spain providing services across the board, in purchases, rentals, and sales. It now operates its franchise style agency from a network of 700 offices around Spain, combining the best of local expertise with the advantages of centralized support.
ADVANTAGE
- Extensive local presence with franchise offices across Spain
- Tailored guidance for buyers, sellers, and renters
- Experienced professionals providing reliable support
DISADVANTAGE
- Service quality may vary between franchise offices
- Limited Online Presence
- Focus on Urban Areas
- Commission rates might be higher than smaller
✅ Tecnocasa – The Benefits
Franchise Network – With around 700 offices spread throughout Spain, every market option for potential buyers is covered. This not only encompasses a broad range of properties on the Tecnocasa books, but it also enables potential buyers the consistency of service if they are looking across different locations in Spain, enabling them to deal with the same company in spite of a changed location.
Multilingual Staff – Negotiating the property market in another country has not only language problems, but also differences in the purchasing process and legalities across borders. Most offices have at least one English speaker, plus other languages in popular areas. This minimizes the problems of purchasing across borders, with staff who are familiar with terms in English, and the typical issues which international buyers may face.
Agency Organisation – Tecnocasa is noted for its delegation to the most suitable agent for each property. This enables a speedier decision-making process with all the necessary tools for each step customized and in the hands of the one agent with expertise around certain types of properties.
Mortgage Advice – Tecnocasa has invested in the financial brokerage company, Kiron. While buyers aren’t obliged to use the services of Kiron, their services are available and convenient. There are significant advantages in working through a related company as a guarantee of viability in customer financial dealings, which can become complicated as cross-national purchases, and simply for differences in legalities.
Exclusive Listings – One of Tecnocasa’s advantages is that their broad franchise network enables them to have a range of exclusive listings of properties which aren’t listed with any other agencies. This strong market presence gives buyers access to a greater range of options including some which are exceptional, any of which may be that perfect and special fit.
Sales Excellence – Tecnocasa has a good sales record, with sellers being impressed at the speed and ease with which their properties have sold, and with great sales prices. Customers are excited by the smoothness with which their properties are resolved for them.
❗ Tecnocasa – The Disadvantages
As with every organization, there are strengths and weaknesses.
Additional Costs – The advertised sale price is rarely the total cost involved. Be sure to ask about any other fees, such as VAT which could add an additional €3,500 to the sale price. Also make an allowance for sales costs, and confirm what taxes, fees and commissions are charged. Different agencies can charge fees differently.
Mortgage Services – While the Tecnocasa sister company Kiron can be extremely convenient, it is up to the buyer to ensure that their services and prices are suitable, and to compare with at least two other options. Include details like the mortgage conditions, and the practicalities of the paperwork. Take into account your individual needs and situation.
Franchise Network – The franchising umbrella adds a certain cohesiveness to each agency. A franchise also means that each office is still individually owned and managed, leading to differences depending on the quality of the management, and is subject to variabilities. It is always advisable to shop around.
Limited Rentals – Tecnocasa’s listings are heavily oriented towards sales, and can have a limited range of options if you’re looking for a rental, especially in the major centres such as Madrid and Barcelona.
Commission-Driven – A sales-oriented approach indicates that agents are commission-driven. This can lead to recommendations that aren’t in the customers’ best interests, such as omitting mention of a property’s disadvantages.
Contact – Website feedback indicates that agents can be difficult to contact, with emails going unanswered and phone conversations being short and unproductive. During property viewings questions can go unanswered, leaving clients dissatisfied.
Information Gaps – Some clients have been frustrated by unanswered questions. Always follow these up, but also allow for language difficulties and cultural differences.
Search Features – Search features seem to be more limited than suits many buyers and renters, with some notable omissions including pet-friendly properties, views, proximity to beaches etc, and length of rental lease options.
⚡ At a Glance
The Tecnocasa homepage is inviting and futuristic, with promises of great listings. Their site has a fresh clean look with an inviting range of options. The search options include housing type, buying, selling or renting, and advanced options included a search for flats with a terrace. However, there were no options to search for a flat with a view, pet-friendly or lift access, or proximity to beach or elsewhere, and no global map.
Some of this was accessible in individual property listings, but other would require contacting an agent. The translate function was not global, but had to be applied at every page change. Several agencies had labelled a shadow icon with names and details of staff but had no photo – a blank photo image is not confidence inspiring, and one property was listed with no photos.
📲 Mobile Compatibility
Tecnocasa have designed their site to be as usable on mobile devices as on their desktop homepage. All the features were easily accessible, and the site was just as easy to navigate. The same search functions were available, and properties with their photos were of the same standard as the website.
🎯 The Business — Listings
Tecnocasa has an extensive network of offices throughout Spain, numbering around 700, and it advertises an extensive range of apartments of around 7,000 nationwide. That having been said, that is an average of only 10 apartments per office, which seems to be on the low side. On average an agency in Spain will have 20-50 active listings on their books, which will of course include garages, storage rooms and other spaces for rent or purchase.
💎 Property Sales
Property sales is the core of any agency’s business, Tecnocasa no less. Feedback from clients selling their properties through Tecnocasa seems to be generally positive.
Service – Tecnocasa agents are generally efficient with sales details, the process of property sales being smooth and with minimal issue to the seller. Arrangements and procedures were taken care of by expertly by Tecnocasa.
Sale Price – Tecnocasa has good prices results for properties on their books. Sellers were typically impressed at the returns they got for their homes. Even difficult-to-sell properties on the books of other agents for months have been sold quickly with their expertise.
Expediency – Generally properties are reported to be sold quickly, and with minimal fuss, including properties listed with other agencies for an extended period of time.
Additional Fees – Always be aware of any additional fees in return for services and compare across agencies. Also check over the details of any signed contract, including any automatic renewal clauses, which can otherwise result in penalties to finalise. These things should all be clarified from the start.
Sales Deposit – For sales services, Tecnocasa requires a deposit which is returned on completion of the sale. Establish at the outset any fees, taxes, or other charges which you may be liable for. Any monies paid should always have a receipt, and deposits need to be established in writing as a contract at the time of payment. There are reports of failure to refund such deposits.
Professionalism – As a franchise Tecnocasa has many advantages of one identity. However, individual agencies may still vary depending on the ownership of each office. A sales focus can sometimes make clients feel pressurised into signing up and exclusivity with the promise of waiting buyers. However, generally speaking the sales side of Tecnocasa seems to meet with approval from sellers.
Contact – When there is an issue, such as with refunds, emails tend to be ignored and phone contact with an English speaker difficult to negotiate.
💎 Property Purchases
Listings – As a network, Tecnocasa has an extensive number of listings on its books, approximately 7,000 apartments nationwide, with agencies spread throughout Spain. This network gives Tecnocasa exclusive access to some properties unavailable elsewhere, potentially giving buyers access to their perfect property.
Property Conditions – In Spain, it is important to remember that when buying a property, all debts associated with the property are also being ‘bought’. It is important to do a property assessment of condition, as well as checking for any outstanding debts. Also check the status of utilities — disconnections are not only inconvenient and a hassle, but they may incur extra fees for reconnection over and above the simple transfer of name. A top agency should include this information in their property information, especially one specializing in selling to foreigners who are unlikely to be familiar with local Spanish conditions.
Additional Fees – Always be aware that the sale price will not be the total of your payment. Take into account extra fees and taxes, including the agent’s own commission for their services. These should be clarified at the start. Buyers should allow for any additional fees related to the sale. You should also confirm if the sales price includes VAT. Tecnocasa has been reported to require a contract before showing properties with as much as a 20% commission included. It is always advisable to compare around different agencies for their respective fees, and take into account exactly what services they provide for this.
Professionalism – While the franchise umbrella upholds a uniformity of service across agencies, agency management is more autonomous, and may result in variations across offices. Also remember that you are dealing with different cultural standards, and also allow for difficulties in communicating across languages. However some clients have found emails and phone calls unhelpful or unanswered, with an overly commission driven orientation at the customers’ expense.
Information – Feedback indicates that clients have been frustrated by lack of information, with answers about property details not being forthcoming, indicating a lack of agent knowledge. Research into how the local Spanish real estate market works, as well as comparing across recommended agencies for ones which cater to your specific needs. Individual listings do include information such as normal power consumption for the unit.
Post-Sale Support – As a foreigner buying into Spain, if you plan on renovations, want an agency to manage your property in your absences, or if you have bought as an investment and in order to rent out the premises, you will need someone who is reliable in your absence and helpful to you in the unfamiliar conditions of another country. Tecnocasa advertises that they have these services, but check reviews and feedback to be sure of what services your sales office actually provides and with what level of quality. You may be better served by sourcing these services from elsewhere – information to check ahead.
➡️ Property Rentals
Listings – While Tecnocasa has rental listings, their focus seems to be on property sales, and customers have found rental options to be limited. It can also be frustrating if listings are not kept up-to-date so that potential renters are searching through descriptions of properties which are no longer available.
Search Filters – This is one of the features on the Tecnocasa webpage which could be finessed. As a renter there are more details which are important than with purchasing. Not just location searches (a limitation for both buyers and renters), but renters can need information about whether a property is furnished. Some significant factors include knowing whether a property is pet friendly or child friendly.
Individual listings — Each property has details on the distance to schools, shops and public transport (pharmacies are listed, but health facilities aren’t). However, you have to access the property’s page for these details. The property information includes a map of the approximate location of the property, and whether near a beach or shopping centres, and distances to supermarkets, pharmacies and transportation etc. The language also needs to be changed to English on every new page, only an issue on a computer.
Commission – Commission is a normal part of property searches – paying the agent for their time in inspections and their work on accumulating a listings and clients on their books. It is always wise to shop around different agencies to compare commissions. This is not regulated in Spain, so agencies will vary.
Deposit – The tenant pays an upfront deposit on the property, normally of one month plus a 21% VAT, but in some cases this can be up to three months. It is important to check around agencies, because there is no regulated fee structure for this in Spain. Tecnocasa has been reported requiring an upfront commission before showing apartments to prospective buyers and renters.
Services – Generally an agency is not just responsible for taking the rent, but for taking care of any issues to the property as a whole which come up during the tenancy. Information on this seems to indicate that the office will refer a tenant to the landlord and play no role in contact. The standard of the apartment on the signing of a lease would also seem to be up to the respective landlord and not something that Tecnocasa undertakes as a part of its services.
📌 Extras
Tecnocasa has some extra services related to their business which they make available to clients. As with all aspects in the real estate market, it is important to remember that it isn’t a regulated industry in Spain. Inter-country Buying, selling or renting always comes with the caveat to find out what the local norms are, and to shop across different agencies to gain an idea of what to expect.
Affiliated Mortgager – Tecnocasa is affiliated with Kiron mortgaging services, which they will naturally recommend to clients. As with all aspects of buying, it serves to ask around other banks and mortgaging services to get a picture of what options are available to you. Also be aware that the outright fees are not the only detail to take into account. Jumping to the cheapest martgage may result in other problems down the track. Check out all the details, including the total costs of repayments, length of time, monthly payments that fit your own budget, and consequences if there are any unforeseen circumstances down the track. Shop around, and choose the mortgager which best suits your own set of circumstances. However, the general consensus is that Kiron is a more expensive option.
Legal Support – Any time you are entering into a contract such as this that involves significant sums of money, read all the details and check up on the legalities. This is a given, and even more important in a different country where the issues and your rights may vary significantly form the ones with which you are familiar. An independent expert whose English is excellent and has good knowledge of Spanish legalities will explain to you anything of which you need to be made aware, and can often save you from extra expenses down the track. It is only sensible to confirm that all contracts are legally binding and have no suprises.
❤️ Our Verdict
Buying or renting in an overseas market is always full of uncertainties through differences in procedures and expectations. Tecnocasa has the advantage of providing a major network of options under one hat which offers uniformity of service and professionalism. It also garners greater clout within the industry leading to a greater selection of properties including unique ones which are potentially your perfect match.
As a franchise, Tecnocasa offers uniformity, while each office has the freedom to have its impact in its own operating sphere. The flipside is that the quality of each agency is dependent on its particular owner, while the overall business depends on Tecnocasa’s encompassing features.
Buyers and renters from across borders need certain services, including staff speaking English and other languages, and an understanding of the issues unique to Spain which are likely to be unfamiliar, depending on the client’s origins. Clients should always respect that they are in another language and cultural environment, and good English speakers and awareness of the details in their clients’ home country are not always as available as we might wish.
In the case of Tecnocasa, there seems to be more of a focus on sales and commissions than on client needs, including a marked lack in responding to communication at times. There is some concern about the quality of properties shown, and knowledge about that property. While being mindful that what seems normal to you might not be normal in Spain, it is always a situation of buyer beware, and comparing around different real estate companies.
Read up on the Spanish property market, including the norms of business and prospective problems typically encountered by the non-Spanish buyer, paying a little more attention to the Tecnocasa details. Its mortgage affiliate is pricey, and there are other agencies with a greater number of rental options on their books. Be careful to enquire fully about additional costs and VAT charges, as well as any property details such as outstanding debts and utilities issues. Follow-up to queries also seems to be wanting. It also seems advisable to have contracts viewed by an outside professional to ensure everything is in order and there are no suprises.
While all this is advisable with any agency, in any transactions across borders, it seems to be more necessary with Tecnocasa. This is recommended not just because you are investing large sums of your own funds, but also to save on stresses down the track due to inadequate scrutiny at the beginning. Customer feedback pages are significantly balanced in the negative. While more people complain than advertise a good experience, in summary, approach Tecnocasa with caution.
- Hello world! - August 19, 2024