To talk about this complex issue, first I want to tell you a bit about my story, because I am going to talk about this matter from my point of view and from what I have observed from within. I have tried to be a real estate agent, but I could not.
MY PROFESSIONAL HISTORY
When the pandemic started and a week before they confined us, I had a normal job. Hours from nine to six, fixed salary at the end of the month and I even had very good colleagues, but I wanted more.
I wanted to create something of my own to help people, something with positive values and where the maxim of “sell, sell and sell” was not practiced. Although I had a terrible fear of failure and did not admit it, not the fear of “wanting”, I knew that my path could not be made in a company called normal.
I said goodbye. In addition to my willingness to “want”, the values of the company where I was located did not match me, I did not want to work to earn money, I wanted to work to do something good.
In the midst of the uncertainty of the moment we were going through in the world, my indecision about what I wanted to do was added. I didn’t know how, but it was clear to me that I wanted to take on my passion as a child: decoration; and create something pretty.
Home Staging appeared to me by chance and I found it super interesting. I wanted to do it and I was going to do it, but I lacked data. I did not know how the real estate market in Pakistan works.
My head, which never stops, had the happy idea of deciding that I had to enter the real estate market, to know how it works from the inside.
WHAT IS THE BEST WAY TO LEARN? DO IT.
Well, I entered a real estate agency, and I was in it for ten months. My professional achievements? None. My knowledge of the market? Very much, because I was inside with the objective of learning and now, I can talk to you about exclusivity from my perspective.
WHAT IS AN EXCLUSIVE CONTRACT?
It is a commitment on both sides. The buyer agrees that the real estate is the only intermediary in the sale of their property. In return, the company agrees to sell the property as quickly as possible, with the best benefit for the buyer and without complications.
It is not by having a property in twenty real estate agencies that he is going to sell faster, what you will achieve is that your house is published twenty times in each real estate portal and instead of standing out from the others it will be considered “real estate spam” for buyers.
HOW TO BE A REAL ESTATE AGENT?
Have you thought about being a real estate consultant? Don’t you know what it takes to be one? Below, FOLIO will unveil everything it takes to be a real estate professional.
Alejandro Erhard, president of the Securities Mosaic Commission of the Mexican Association of Real Estate Professionals (AMPI), indicated that anyone who wants to venture into the world of real estate is necessary to enter some of the courses offered by real estate firms.
“The AMPI offers a course called ABC in which we prepare all those people who want to be real estate consultants where we prepare them and give constant training,” he said.
Erhard commented that there are several aspects that a real estate professional must know thoroughly in order to provide their services.
“First you need to know the Real Estate Law, second the notarial law and then everything that is sales, customer service, objections and closings,” he explained.
The specialist mentioned that being a consultant is not something to be taken lightly and it is mandatory to have studies.
“We handle the wealth of the families, an advisor has to be specialized and know perfectly well all the technology, science and all the experience that he must have in addition to legal and notarial knowledge so that you do not let yourself be deceived or you are not going to fail him. to your client in the purchase or sale of a property, “he said.
In addition, he assured that every real estate professional must be constantly updated on what is currently happening in all social areas.
ADVANTAGES OF THE REAL ESTATE EXCLUSIVITY CONTRACT
A real estate agency that works exclusively agrees in writing to do everything so that each property is sold at the best price and as quickly as possible. But there are many more advantages:
- According to statistics, the average time to market decreases.
- These real estate companies have much fewer properties in their portfolio because they work for each owner, dedicating time to each of them daily.
- The client will enjoy more services and higher quality, since the real estate, as it knows that it is your only representative, will invest in your property proactively.
- Most real estate agencies work with a shared exclusivity contract, so everyone can sell your house.
- You will have a single interlocutor, a single representative who defends your interests and who speaks with you. You won’t have dozens of realtors calling you.
- The majority of real estate agencies that work with exclusive properties will prepare each property as if it were their own, many organize, decorate and photograph the properties in a professional way and will give you advice to take care of it when visits come.
It is to sell a property is not put ads on real estate portals, that’s what you do. There are many cases of properties that are sold without having to publish them, because real estate agents have a large portfolio of clients looking for houses like yours.
DISADVANTAGES OF SIGNING AN EXCLUSIVITY CONTRACT
When the exclusive is not shared. Most real estate companies work on a shared exclusive regime, which allows all real estate agents and agents to find the buyer for the property and will always have an agent fighting for the best for the seller.
We must have this situation very clear, because if the real estate does not share the exclusive this is a kidnapping authorized by you.
MYTHS OF THE REAL ESTATE EXCLUSIVITY CONTRACT
There are myths about everything, but the exclusivity contract is outrageous. More than myths, they are beliefs spread by bad professionals, who are afraid that good professionals will gain prominence in the sector.
ONLY ONE PERSON CAN SELL
As we have already mentioned, most of the exclusivity contracts are shared, so that all professionals in the sector can sell the property in Rudn Enclave Islamabad. With the benefit, you only have to talk to one person, the one who will represent you and fight to get the best benefit.
Many people think that, by having the property in a single real estate, fewer people will see it. What is totally false, since what you will achieve is that an agent works your property in a personalized way, highlighting it from the others.
By having the ad published dozens of times on the same real estate portal, what you get is that your property is considered “spam” and cause a bad image, since the ads will not have the quality of an ad worked in a personalized way.
IT ONLY FAVORS THE REAL ESTATE AGENCY
In an agency no agreement is signed, they do not have to give satisfaction to anyone with their work, so they will make an effort to sell the properties that are easier and often not even that, because they only wait to be called. They have so many properties in their portfolio that someone will call for one of them.
With an exclusivity contract you can demand, but in most cases, you will not need it, because they themselves will strive to achieve the goal with the best benefit.
THEY LOSE CONTROL OF THEIR PROPERTY
It is only sold with the conditions that you accept, and they will also make you participate in all the events. The real estate agent does the work, and you decide whether or not to accept the result, it is all in your hands.
CAN’T BE OVERRIDDEN
From the biggest beliefs out there, any contract can be voided. These contracts normally have a term, three to six months, which is usually the time that a professional need to sell the property.
During this time, you can analyse if you like the professional’s way of working, if after the deadline, you decide that you no longer want to continue with that real estate agency, you just have to notify them.
In addition, if during the term of the contract you do not like their way of working or you think they are not doing what they promised, you can tell them and if they do not find a solution, ask for the cancellation of the contract.
WHY DON’T THEY ALL WORK WITH AN EXCLUSIVE CONTRACT?
Working exclusively is much more complex. When you work open, you have no commitment, neither with the buyer nor with the seller, they work for them.
Normally, agencies that do not work exclusively only take photos with their mobile phones, place a poster, a couple of advertisements on the internet and wait for those interested to call them. It is much easier and simpler; you could even do it yourself.
Most of the real estate agencies that do not make exclusive, have in their portfolio all the possible properties on the market and do not collaborate with others, if another agent has a buyer, they do not allow them to show the property, much less sell it.
When you commit to a landlord in writing, you can’t wait for buyers to come, you have to go get them. That makes these real estate agents more proactive and make a marketing plan to reach potential buyers.
The real estate agencies that work openly are those that do not collaborate, do not have a marketing plan, do not innovate, do not add value to the property and do not look for the good of the client, but for their own good.
That is why the answer to this question is: because it is much more complicated, committed and only those who really want to help you do it.
AN EXCLUSIVITY CONTRACT IS NOT KIDNAPPING, BUT THE REST IS REAL ESTATE PROSTITUTION.
This is what I have learned from my experience as a real estate agent, it is my point of view from everything I read, heard and lived.
For some reason, 99% of Home Staging companies only work with real estate agencies that make exclusive contracts, they are the only ones that invest and prepare each stay so that it stands out from the other properties.