Making the most out of a buyer’s market

  • 18.July 2013
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estate-agent-malta1When you’re out on the hunt for the perfect property to purchase, you may get somewhat confused with all that is available on the local Malta real estate market at the moment. Your desired property may be lurking out there somewhere amidst hundreds of others, whether you are seeking a one-bedroomed bachelor’s pad on the nearest seafront or a 19th Century palazzo in one of the old cities. There is just so much listed on never-ending lists of properties whose owners are hankering for a sale. And so, the current property scenario is your typical buyers’ market and the onus is on buyers having a ball.

There is a lot to choose from and one can be pretty selective in more ways than one. Having such a wide choice also means you can be picky and negotiate harder because sellers are finding it takes that much longer to clinch a sale. However, this may prove to be somewhat confusing for those who go it alone in property purchase territory, since with more to choose from, there is a risk of getting nowhere fast. This is why engaging with a Malta real estate agent makes so much more sense.

A professional Malta real estate agent is trained to sell and to hunt the properties that best match his/her client’s criteria. He/she will consider and re-consider how to match each would-be buyer with any of the properties available to design a want-list that highlights the availability. With a knack for examining properties comparatively, weighing all options and coming out with the best selection out of the lot, a Malta real estate agent stands for a quicker purchase with peace of mind all round.

Consider these advantages:

  • A real estate agent will know the going market price for each property category and the limits of reasonable price fluctuations. An agent will know that unless a property is within 10% bracket of the current market price, it may not be your best bet after all.
  • A real estate agent will have all tabs on a wider property selection that you could ever dream of. Coming from a large estate agency such as RE/MAX for instance, means an agent will have literally hundreds of exciting properties spread out over both islands for you to choose from.
  • Whilst the trend abroad indicates that at least 70% of property sales are made via an agent, here in Malta only some 30 – 40% of properties sell in this way. Most people go it alone, little knowing that their experience could be fraught with difficulties only an agent can manoeuvre without a hitch.
  • Getting an real estate agent to pre-select properties for your viewing list means you will be saving that much more time, because the agent will know what you want and what there is on best offer. The agent’s own pre-visits to properties to secure viewing appointments, may mean you get to view properties that are prepared to welcome you to a suitable viewing.
  • A professional Malta real estate agent will organise trips to a list of properties that are targeted with your ideal purchase in mind including ideal location, size, price tag, set-up, etc.
  • You can make the most of the current buyers’ market scenario if you are rightfully guided through by an experienced negotiator, because every self-respecting negotiation will require some bargaining on final price, on the amount of furnishings left in place, on contractual conditions, on deposits, etc.

Ultimately remember that the buyers’ market scenario is not going to last forever. Take advantage of the prices dictated by such a market and you may land the bargain of your dreams…… thanks also to the skilled Malta real estate agent by your side.

This article was written by Marika Azzopardi, a freelance writer and journalist. A frequent contributor to national English language papers and magazines, she writes about a bevy of topics including art, people and life in general. She is also the author of children’s books and short stories, delving into adult fiction from time to time.