In the case of cooperation with many real estate agencies, the biggest problem is the so-called offer inflation, i.e. the appearance of offers for sale of the same property many times in the same media e.g. on advertising websites. Often, such duplicated ads differ in the offer price of the property among others, due to different amounts of remuneration of individual agents, which are added to the price. The resulting discrepancies result in a decrease in the credibility of the offer and the seller, and thus a lower likelihood of interest from the potential buyer. For buying a property you need to be specific now.
Solution
The best solution is to establish cooperation with one reputable office on an exclusive basis. Concluding an agreement with an exclusive clause entails additional obligations for the broker. Choosing a broker is no different than choosing a doctor, lawyer, photographer or hairdresser. We often use the services of these professions on an exclusive basis and do not think about why this is the case.
It is worth starting the search by asking family members and friends if they do not know someone worth recommending, who successfully and efficiently carried out the transaction in their environment. We can also support the internet and look for information and opinions on online forums, check websites and make an appointment with selected agents only after initial verification.
When choosing a real estate office, you should not only suggest the amount of commission but first of all, you should check what the office and broker can offer and whether they have the right tools and procedures for properly offering the property. It is also worth checking how big the broker experience is and whether he is successful in selling similar properties. Of course, not all agents and agents are long-term employees of this industry. However, beginners should work in a group of more experienced colleagues, e.g. in a large office or network of offices.
It is also worth knowing that the exclusive contract does not close the way for the seller to the clients of other real estate agencies. Exclusive offers go to the offer exchange system (MLS), which enables agents to forward offers to other offices. An additional benefit is the representation of the parties’ interests by various intermediaries. In the event of difficult negotiations, we will be sure that our broker will act solely in our interest.
Offering property not ready for sale
In real estate, as in life, the first impression counts. In order for it to be positive, it must be properly prepared before the property offering process begins. A flat with dirty windows, walls that need renovation and a lot of unnecessary items will certainly not encourage potential buyers to buy. Cleaning the property is one thing. The second, more important issue is an order in its legal status. For a property to be sold, its legal status must be regulated.
Effects
Presenting a property that is not ready for sale can significantly extend the sales process and result in a lower transaction price. In the event of an unregulated legal status of the property, it may not be possible to conclude the transaction.
Solution
It is worth checking in advance whether the legal status of the property allows it to be sold. All activities related to the regulation of legal status, as well as supplementing the missing documents should take place before the start of offering real estate on the market so that it is prepared for a customer who has cash who wants to carry out a quick transaction.
