16.06.2019

Why to hire a real estate agency?

Why to hire a real estate agency?

Purchase of a real estate is one of the most important life decisions. The process of finding the right property can be time-consuming and can provoke big headaches for anyone who wants to invest their savings in buying a house or apartment. If you go through all this process by yourself, without expert help, you can encounter many obstacles, and you will need to invest much more of your time and money as well as to arm yourself with patience. Because of all these obstacles we want to end this process as soon as possible and we do not enjoy the decision-making process to the extent that we expected. To facilitate this process, we can engage a specialized agency for finding and purchasing a real estate. There are numerous advantages why it is recommended to hire a real estate agency once you decide to invest in a real estate. 

 

Knowledge and experience of experts on the movement of real estate market 

Agencies employ professionals who carry you with your knowledge and experience through all the steps that are needed to eventually become a landowner. If you are not familiarized with the way the real estate market operates and you are not an economist by your education, you may encounter various difficulties. The real estate market is complex, subject to fluctuations of prices, and it is necessary to keep track of it so that once purchased property has a satisfactory price/quality ratio.  

Due to our daily commitments, most of us do not have the time needed to track events in the markets of various products and services, especially for real estate market events. For this reason, real estate agencies are also in place to help all those interested in finding a property that best suits them.  

The experts have specialized knowledge of real estate and their market and experience based on a number of successful purchases and sales. Due to the everyday business of finding and selling real estates, experts are always available to us and if we want to buy or sell real estate by their engagement, we can save a lot of time and money. 

 

Knowledge of tax and other legal regulations related to the real estate market 

Experts are also deeply acquainted with tax and other legal regulations related to the real estate purchase. Laws often change, and you need to follow them to take advantage of all the benefits and avoid potential additional costs of their changes. In order to maintain their professionalism and deliver high-quality services to their clients, real estate agencies follow all legal changes related to their business area and inform their clients about it.  

As a real estate agency client, you do not have to keep track of the legal changes yourself because the agency will do that for you. Real estate experts warn their customers of the laws that need to be followed to buy or sell real estate and provide their expert opinion and advice on how to proceed in case of their change. 

 

Excellent knowledge of the real estate market in a particular area 

Real estate market needs to be observed not only from demand and sales side, but also for the type of real estate that is bought or sold, such as apartments, houses, villas, business premises, etc. Also, real estate prices depend on their size, condition and place where they are located. Real estate agencies are well acquainted with trends in these markets and are conducting price, supply and demand analysis to find the best property for their clients or to sell the property at the price the seller wants to sell it.  

In this area, expert knowledge can save us a lot of time and money as we do not have deep insight into the market as physical persons and have access to all the information, we need to make the most rational decision. Also, given the large database of knowledge and real estate information, real estate agencies can find many more properties that are sold or purchased than we could find by ourselves. Consequently, a much larger selection of real estate both from the sales and from the demand side is on our disposal. 

 

Due diligence and preparation of properties for sale 

In the real estate market are offered various types of real estate and it often happens that they are overpriced. If we are not familiar with the usual real estate prices in terms of their age, condition, size and location, we can make a wrong decision to buy a real estate at a higher price than its real value or sell our house or apartment at a much lower price than the real one.  

For this reason, real estate agencies thoroughly inspect all types of real estate that are in the market, which meet their clients' requirements. An estimate of the real estate market value is carried out, including the determination of the real estate property value and verification of the legal status of the real estate. Verification of legal status ensures that the property is not under load and reflects property and spatial documentation with the real physical condition of the property.  

Property is also checked by fieldwork, i.e. real estate agents go to the locations where each property is located to make sure they match the description specified in the ad and meet the potential buyer's criteria. After a thorough check, real estate agency specialists select the property they will offer to the client. 

 

Assistance and counselling in determining real estate value and conducting negotiations 

After they have done a thorough check and presented their clients properties that might be interested in them, clients decide which real estate they want to visit. Assistance of real estate agencies saves us a lot of time because we already have a narrower choice of properties that we might be interested in, and we do not have to spend time on scanning ads that offer real estate whose value and quality is questionable. We as clients after a visit of a particular property can easier decide whether we want to buy it, and real estate agency experts can assist us throughout this process with their professional advices.  

On the other hand, if we want to sell our real estate, real estate agencies will evaluate its value and will try to sell it on the market at the most favourable price for its seller. In this case, as sellers we will save a lot of time because the real estate agency will take care of finding a potential buyer and once it finds a buyer who is interested in our real estate, the experts will inform us about it and offer assistance in conducting the negotiations.  

Buyers want to achieve a lower purchase price, and sellers a higher selling price. Because of the opposite expectations, this process can often be long-lasting and exhausting until both the buyer and the seller make an agreement. This process can be facilitated by real estate professionals because of their longstanding experience in conducting negotiations. 

 

Ensuring legal security of work 

If we decide to enter in the process of buying real estate independently, without the specialized intermediaries, we can never be sure that the opposite party will act in accordance with legal and moral principles. There are a number of examples where many have purchased real estate that they have overpaid, or they have been carrying additional legal burdens, primarily because of insufficient knowledge of the principles of functioning of the real estate market.  

Real estate agencies are intermediaries who ensure that the whole process of buying real estate will be carried out in a transparent and legitimate way. Since legal entities are specialized in brokering activities in the real estate market, they are not merely business-related, but are legally obliged to perform their business responsibly. That is why we can be sure that their services will be delivered professionally and respecting all applicable laws. 

 

Implementation of all administrative procedures 

In many cases, the administration hampers us in achieving our goals and we spend a lot of time and energy on it. Bureaucratic procedures are even more complex when it comes to buying and selling processes.  

When buying a property, it is necessary to check ownership of the land register. The land registry extract is consisted of a landlord or a census list that lists the property, the ownership list that lists the ownership and the cargo extract which indicates whether the property is burdened with the rights of third parties. In addition to land registry extraction, it is necessary to obtain an energy certificate, and in the case of new construction, building and use permission. Prior to the conclusion of a sales contract, the signing of a pre-contract is usually required, which should also be certified by a notary public. Only after the signing of the sales contract follows the registration of the ownership.  

It is evident that the process involves obtaining many documents and additional administrative costs. Real estate agencies with such procedures are encountered on a daily basis and because of their experience are aware of the existence of administrative obstacles in the process of buying or selling real estate. By employing a real estate agency, they assume the responsibility for implementing these procedures, and we as buyers or real estate sellers do not have to spend their free time on visiting the institutions to collect all the necessary documents. Our only obligation is to review all documents and sign them to obtain the keys of our future house or apartment. 

By engaging a real estate agency, we can be sure that we will find a property that suits us with much less time and money than we would find it on our own. Real estate experts because of their knowledge, experience, knowledge of legal regulations and trends in real estate market prices can save us from the potential misguided and harsh decisions we often take as buyers or sellers due to lack of information on market functioning.  

Also, because of limited access to information and lack of free time we are not able to thoroughly check all the properties that are on the market. This will help real estate agency experts who will advise us to make the best decision and lead the negotiation process to the opposite side. Due to business responsibility, legal certainty will be guaranteed, and we will not go through bureaucratic distress alone. All these advantages that the real estate agency offers us will make the process of buying real estate pleasurable and not the type of process we strive to avoid at all costs.