What you need to know about real estate agencies

Having decided to buy or sell an apartment, many are faced with a dilemma – to do it on their own or contact a real estate agency. Both options have their advantages and disadvantages.

Save time or money?

Choosing the first option, people are guided by a simple and reasonable motive – to save money. After all, the services of realtors are not cheap, they average 3-5% of the value of real estate.

But independent purchase or sale of an apartment may not be such a simple procedure, moreover, it takes a lot of time. Therefore, many prefer the second option – they decide to use the services of a real estate agency.

At the same time, often people who apply to the agency do not know what the actual duties of a real estate office are, and they themselves partially perform the work of a real estate agency. Let’s see what services clients of agencies should receive for their money and what is the principle of the real estate agency.

Responsibilities of the real estate agency towards the buyer

The buyer, turning to the agent, has the right to count on the search and selection of the best housing options for the requirements put forward, as well as a legal due diligence of the property.

If you are looking for accommodation on your own, you will have to review a huge number of ads. Not all sellers give a clear description of the property, so be prepared to make dozens of follow-up calls. The realtor will do the work for you and will only provide you with options that best suit your needs. All you have to do is watch them live. In addition, an experienced real estate agent can give a lot of useful advice on choosing a home, ranging from the well-being of the area to the features of a particular property.

Why do we need a legal check of the apartment, for sure, everyone knows. People have already heard enough about apartment scams, when, after buying an apartment, owners suddenly appear, infringed on their rights. For example, illegally discharged persons, etc.

The duties of a real estate agent include finding out the history of the apartment, the cleanliness of previous transactions, as well as checking the possibility of the transaction (the absence of an arrest on the apartment, the seller’s legal capacity, etc.).

Responsibilities of the real estate agency towards the seller

The seller who applied to the agency should be helped to adequately evaluate the apartment, find buyers and prepare all documents for the sale.

Of course, you can evaluate the apartment yourself by analyzing the ads for the sale of similar apartments. But there is also the possibility of error in estimation. In this case, either the apartment will be sold for a long time (if the price is too high), or you will lose money (if the price is too low). Therefore, the experience of the agent in this case will be useful.

An important function of a real estate agency is to advertise your apartment. After all, any apartment or house has strengths and weaknesses that a competent agent will identify and use to convince future buyers. It is also important that the specialist recognizes real buyers well, and is unlikely to bring just curious citizens to your house.

The biggest plus in cooperation with the agency is assistance with paperwork for the sale of an apartment. Anyone who has not experienced this has no idea how many instances need to be bypassed, how many queues to stand and how much time and nerves are spent on these procedures. It is easier for realtors – they have done all this many times already, there is an established algorithm for obtaining information, communications. True, in order for the agent to prepare documents, you will need to issue a power of attorney for him.

How to choose a good real estate agent

Of course, ideally, the agent should bring the matter to a logical conclusion – a transaction with a notary. Please note that you can pay the agent a fee only after the completion of the purchase and sale transaction. Do not under any circumstances make advance payments. If an agent asks for an advance for a consultation, this is a reason to be wary and look for another specialist.

Unfortunately, fraudsters can hide not only under the guise of sellers, but also under the guise of agents. Therefore, carefully choose a real estate agency, if possible, use the recommendation of friends. If you use the services of a “stranger” realtor, make sure that he really works in the agency where he speaks. Perform all operations to transfer money to the seller only in a notary’s office.