Are you sure the classic procedure is the right one?
How to look for a House? … How the “game” works!
You know, it is not easy to look for a house in your city despite having the advantage of knowing market value, the best areas, the services that are present around the property, let alone in a far area from where you live that you know only because you have been there on holiday or because they have spoken to you about it.
If your search is also directed towards a foreign countr:
You don’t know their customs
You don’t know laws and purchasing methods
Sometimes even their language
The difficulties are amplified.
We all tend to think that to look for a house in a foreign country we must follow the classic procedure:
By starting to search on all real estate portals for properties on sale to find the right property to suit your needs, proceed to contact all the agencies that advertise the property that interests you, explain to each real estate agent what will meet your needs, go and see the properties and then discover that the ad looked like beautiful houses but instead it’s anything but that … realizing that the house didn’t reflect the characteristics of the ad.
If all this, causes you stress and anguish while being close to home, imagine the stress that it can cause you if you add the fact of having to organize a trip, book a hotel and move the whole family for a single weekend or a whole week ….. to a foreign country whose laws and purchasing methods are unknown.
Well, now I explain how it works in Italy…
I would like to state that there are many good real estate agents, but what I will tell you here is objective and you can’t ignore it.
I know I’ll be attracting the antipathy of so many real estate agents because I’ll reveal so many secrets that no real estate agent would ever tell you, but I think it’s necessary for you to know these things.
The traditional real estate agent in Italy is contacted and chosen by the seller who gives them a task to sell their property. The buyer chooses the property and, as a result, “hooks up” with the real estate agent and then has to deal with him whether he is friendly or not.
The real estate agent, during the process of the sale, follows both parties:
…and should do so impartially.
However, due to the fact that they have been in contact for a longer time and have established a relationship of trust, They will inevitably feel closer each other!
and …. The estate agent, in a commercial negotiation, will tend to favor the seller, often, albeit involuntarily.
Imagine then, as it often happens in smaller villages where they are all friends and/or relatives if the seller is also a friend of the real estate agent …
Who will be the favorite?
In a nutshell, all this means that when you contact a real estate agent to get more information about the property you have seen on the real estate portal, you usually pay a fee for receiving assistance from a professional who has been commissioned by the seller.
Let me explain myself even better….
You will be assisted by a lawyer who has been chosen and appointed by the other party?
Will he also protect your interests?
And after explaining the “choice” process, let’s now talk about the process during the “negotiation”.
It is true…. The seller and buyer have only one aspect in common, which is to reach a commercial agreement that can close the deal.
However, if you think about it well, they have opposing interests and targets. One of them is the price of the house.
The seller is obviously trying to sell his house for the highest price.
The buyer, the exact opposite, has the target of getting a lower price in the best possible conditions.
If the traditional real estate agent has been commissioned by the seller, will he be able to protect your interests without any kind of influence in the negotiations?
Actually! I know that your answer was NO! and not because I’ve read your mind but because it is simply normal.
We are all inclined to take the side of those we know more.
Just as the Traditional Real Estate Agent will never reveal to you the last price the seller would accept, likewise you will also need a professional who will never reveal your real budget.
Have you ever come across a real estate agent who accompanied you to see the house and says to you,
“The owner never told me how much he’s willing to sell. If your budget is 1,000,000, let’s try making the offer for that amount”….
Well, at that moment he’s not protecting your interest, he’s working according to your budget!
Or ….are we sure that the property you intend to buy could easily be resold in the future and that there are no possibilities where there could be a decrease in price?
And …. if there is a project to construct a story building in the land in front of your beautiful villa overlooking the sea, the real estate agent will tell you or, in agreement with the seller, will try not to bring up the subject…..?
Is the property I have chosen in the best location to invest in it and is it commercially viable?
Would you like a player from the opposing team to play in your team in the most important match? Would he really do his best to make your team win instead of his own?