The purchase of a property via a real estate agent is considered a must in many countries around the world.
BEIRUT: We all make choices; all the time.
Some choices, however, require more thought than others, given the bigger stakes. They may be lifetime commitments or may occupy or affect a large aspect of our lives. Think of the major you enrolled in at university, the latest business you invested in, or even the car you purchased.
The same applies to renting or purchasing a new property; a choice that may affect your life greatly, especially if it is the wrong one. Realizing you have made the wrong choice after purchasing a property will leave you yearning for proper guidance; a consultant who would have ensured you know enough about real estate to save you trouble, time and money.
The purchase of a property via a real estate agent is considered a must in many countries around the world. Some deem a broker’s superior market knowledge and ability to differentiate between properties, matching them with a buyer’s request, of the utmost importance.
We as individuals are seldom familiar with the world of real estate, unaware of the bylaws as well as the types of finishing we may be provided with. You may have heard of a family or two who have purchased a property, only to recondition or fix it shortly after due to poor development.
By dealing with a professional real estate agency, avoiding such disappointment becomes easy. Taking the retainer fee into consideration, it is nowhere near the costs one would have to spend fixing a property with systematic wreckages.
We realize as the world adapts to an evolving digital technology how much simpler it is for us today to find a property that fits our requirements. Yet, the vast connections a real estate agent gains from their fieldwork allow them to negotiate a better price, as they may be acquainted with the developer or individual selling the property.
Negotiation is key for a broker; as much as you think you can do it, they will most definitely do it better, and with less trouble. After all, negotiation is nothing more than a routine within a real estate agent’s day.
Purchasing a property comes down to much more than a down payment and a monthly installment plan. Purchasing something of that caliber is a major investment; you should ensure it is worth every penny.
Without a professional brokerage firm assisting you through the various stages of the buying process, you probably shall end up running around Lebanon, stuck in never-ending traffic. Not to mention going through weeks of torture before starting to experience significant search progress.
A brokerage firm that has mastered the search for a property has the necessary connections to help with paperwork, ensuring you have the documents you need within a week’s time, saving you significant time. After all, the one thing that cannot be bought is time.
Real estate advertising platforms, on the other hand, allow consumers proper access to available real estate data, rendering their search for property far more organized and efficient.
Yet when making a final decision, they always recommend hiring a real estate agent – whether through their portal or not – to ensure the best possible price negotiation; the knowledge necessary for proper inspection of a property; and the time and experience needed to haggle with developers and landlords.
Wissam Moubarak is the Country Manager of Propertyfinder Lebanon – part of the Propertyfinder Group, which was established in 2007 with the aim of bridging the gap between brokers, developers and consumers. The Propertyfinder Group portals boast 1.6 million monthly visitors and 150,000+ unique property listings across 7 Middle Eastern markets: UAE, KSA, Qatar, Egypt, Bahrain, Morocco and Lebanon. www.propertyfinder.com.lb
