Real estate agents in Malta make their money selling Property in Malta. Malta’s real estate market is quite a different one compared to other countries. The difference is simple, in 70% of countries around the world estate agents work solely on representing exclusive listings, which means that the properties that they have on their books can only be sold by their company, where as in Malta 90% of properties are available on an open agency which means that the properties that are for sale are likely to be represented by more than one real estate agent in Malta.
This means that a real estate agent in Malta has to be sharper and quicker to show you the best properties available before any other agent gets to the punch first. It may sound cut throat however you can avoid the pitfalls by just choosing a reputable real estate agent in Malta. By doing this you will be avoiding estate agents showing you properties that do not fit to your requirements, putting extra pressure on you to make a decision and wasting your time just to mention a few. The more reputable real estate agents have a code of ethics, a larger database of properties and are trained to be professional and make an honest living. If you choose many estate agents to deal with your request you are more likely to be taken to the same properties more than once and you will simply be complicating your life.
Please find the first steps to getting the best out of your real estate agent.
- 1. Choose a real estate agency you can trust.
- 2. Answer your agent’s questions honestly. If you start off on the wrong foot, you can only blame yourself for wasting your time and the real estate agents time.
- 3. Create a wish list and be realistic. Be honest with yourself and with your financial status. It will only backfire on you if you are not.
- 4. Turn your wish list into a check list. Take it to your appointments and score your properties. This way you will remember what you saw and you will not get confused especially if you are seeing a few properties at the same time.
- 5. Provide feedback. Feed back is important for a real estate agent; he may feel that he is on the right track whereas if you just told him one simple instruction it may change the whole scenario.
You might be thinking right now that the above is practically doing the work for the agent, or if you have a lesser opinion of estate agents – I really don’t want to know what you’re thinking. LOL. (Laugh out loud).
The truth is that – just like in any business relationship – there has to be two-way communication to make it successful. A real estate agent can not just imagine your perfect property in Malta and you can’t assume that he knows what you want without explaining it in detail. The rest can be left for your Malta real estate agent to show you the right properties and work hard for your trust so that he eventually does find your perfect home.
To view part 1 and part 2 of this series go to A Guide Buying Property in Malta