Real estate intermediation involves a complex discussion due to the presence of various types of players, communication channels, and market segments.

Many objects, and sometimes the best ones, are sold without intermediaries through “word of mouth” thanks to personal contacts and acquaintances; for this, what is needed is simply having the right contact at the right moment.

Limiting the description to what is interesting for a potential foreign investor, it must first be emphasised that a foreigner buying property in Sicily who does not understand the Italian language or laws should seek qualified professional advice. They can engage a consultant, a lawyer, or involve the real estate agent if the agent is equipped to provide such services. 

The required services include requesting a tax code, translations, initial assistance with taking possession of the property (such as transferring utilities like electricity, gas, and water), and at times help with visa and residence permit procedures. Some of these services, if provided by the agent, may be included in the agent’s commission; others may incur additional charges. In any case, the buyer must understand that these services have a value beyond the standard service offered by an agent. 

Regarding agency fees, estate agents generally charge a 4% commission plus VAT. This fee is payable by both the seller and the buyer, resulting in a total of 8% plus VAT. For properties valued under €100,000, it is also customary for the commission to be a fixed sum, such as €4,000 plus VAT, payable by each party. 

Estate agents can work under an exclusive, non-exclusive, or semi-exclusive mandate.

The exclusive mandate is the most straightforward and well-structured way to manage the sales process. With such a mandate, if the property has a market and is marketed under fair conditions, the sale usually concludes within the agreed timeframe without significant difficulties. 

The non-exclusive mandate, instead, complicates the sales process due to the involvement of multiple agents. This approach is often chosen for particularly challenging properties where a single agent might not be enough. Challenges can stem from expectations of an unrealistically high price, the property’s location, or specific features that hinder its sale. The timescale for selling a property under this scheme generally lengthens.

Semi-exclusive mandates are a hybrid arrangement in which the seller grants an agent exclusivity but requires the agent to work with other agents representing potential buyers if the agent does not find a purchaser independently. 

In addition to agents engaged by sellers, there is an increasing number of agents engaged by purchasers. This is especially the case for foreign investors, who are happy to have someone select and identify a target for them. The advantage of a purchaser agent is that he knows the buyer’s language and has a fiduciary relationship with the buyer. This makes deals easier.