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Real Estate Companies
Most of you have probably wondered why Real Estate agencies exist. Some think their aim is to speed up property transactions in order to gain their commission.
Now, because of the continuing financial crisis, apartment owners and prospective buyers try to cut costs they consider inessential like Real Estate agents costs.
Many forget the advantages of approaching a Real Estate agency for assistance, when searching for an apartment to sell, buy or rent. Prior to describing the advantages, we shall clarify the role of Real Estate agencies and why they are necessary.
What role does the Real Estate Agency play and how does the process work?
Real Estate agencies or negotiators are as their name suggests. Their role is to negotiate between the apartment seller and the buyer in a property deal and between apartment renter and tenant when renting an apartment. The role of the Real Estate agency begins with finding a suitable apartment for potential buyers. An agent from the agency of the client''s choice is then sent to the potential buyer with several apartments that address his needs. After the buyer has made his choice that negotiating stage normally begins. The Real Estate agent enters the picture and attempts to persuade each side to be more flexible in his demands that facilitates closing the deal. Usually Real Estate agencies carry out the contract signing process in their offices.
The Apartment Seller''s Advantage in Going to a Real Estate Agency
Many people think it an unnecessary expense to advertise sale of an apartment via a Real Estate agency and prefer to advertise by placing notices in the newspaper and putting signs up locally. Occasionally the apartment does not get sold for some time and advertising in the newspaper etc. could work out to be costly. Today especially, with a slower market due to the financial crisis, an apartment takes longer to be sold due to less and less buyers and the newspaper advertisement continues accordingly, adding to the unplanned cost. Here the Real Estate agency enters the scene.
The agency does not charge for advertising the apartment for sale, only charges commission for negotiation at the time of the transaction. The advantage is that the apartment seller knows how much commission he must pay and that it will be paid to the Real Estate agency only after the contract is signed between him and the buyer.
This way the apartment seller has no unplanned costs when advertising his apartment for sale. Similarly in the case of renting apartments.
Real Estate Companies –Advantage for the Client
Clients searching for an apartment will gain much from the Real Estate agency.
A wide data store of advertised apartments provides one advantage: instead of spending time independently in the search for an apartment to meet your needs, you can tell the agent your requirements and he will suggest relevant apartments.
This way you do not waste time seeing apartments not suited to your requirements. Real Estate agents are familiar with all the apartments in the data store and will select suitable apartments for you.
To sum up: it is not essential to go to a Real Estate agency when selling or buying an apartment, but there are many advantages in doing so.
You may save much time and resources and discover the commission was less than what you might have spent had you not approached the Real Estate agency. Another important point is that unlike the cost of advertising in the newspaper, the Real Estate agents commission is negotiable.
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