Why use a real estate agent when buying a property?

09/05/2023

Buying a property – whether an apartment or a house – is one of the most important decisions one is called to take during their lifetime!

It is therefore of paramount importance that one makes sure they are correctly assisted and  guided during this process in order to avoid mistakes, mis information or even break the law.

Based on Cyprus legislation, the only professional allowed to carry out a real estate transaction is a licensed and registered real estate agent. That is why buyers are advised to ask to see the realtor’s professional identity license in order to secure the above.

A successful real estate agent needs to be knowledgeable, efficient and trustworthy. Having said that, a real estate agent will inform you of changes in legislation, taxes, fees, procedures; they will offer an array of properties matching your search criteria making sure what they suggest is within market value, guiding you to make an offer accordingly. Knowing the market and being able to compare properties and prices requires time, knowledge and experience and this partly justifies the agent’s fee, the remaining of course being their valuable ability to detect the need of the client, find a suitable property  and correctly negotiate the price for them.

Whilst lawyers’ and accountants’ assistance in the whole process of a property transaction is valuable, buyers should never replace the real estate agent with either of the two as that would be against their interest.

So before you start looking for your dream home, look for a registered and licensed realtor first; or the home dream may turn into a nightmare instead!