How to Choose a Real Estate Broker
Investing in residential and commercial real estates is the latest trend in real estate in Egypt. In order to help guide you through your search for the right real estate agent, have done a thorough research to find the best real estate agents in Egypt. By talking to previous buyers and real estate sellers, choose the best agencies based on their customer service, speed, and good property marketing strategies to help make you comfortable with your investment in a home or commercial space.
Real estate brokers are people who help you purchase a house or a commercial property in Cairo and make it easy for you to deal with the different aspects of real estate transactions. When buying a residential home or a business or commercial property, it is wise to hire an experienced broker who can take care of all the legalities involved. The process is easier for a licensed agent since he or she has been trained to handle such matters. If you are looking to buy a house in Cairo or an office in Cairo, you should hire a qualified agent who is a member of the Real Estate Association (REA) or the Egyptian Residential Association (ERS).
You must also be able to talk easily to your broker, since he or she will do all the communication with you in relation to your property and you will be able to give your own views and feedback regarding the property. Before hiring a real estate broker, ask your friends and relatives whether they know any real estate agents whom you can entrust your property dealings to. Your friends can even recommend a friend if they know of an agent that they know. Your broker should also have experience in dealing with residential properties in Cairo. You should be comfortable with the agent to help you understand the entire process and to give you advice on how to sell the property and also how to deal with other factors like taxes, insurance, repairs, etc.
To avoid fraud and deception, ask the agent to give you a written document stating the total amount he or she charged for the sale of your property, which includes fees, commission, commissions and other hidden costs, if any. Most brokers will try to get some kind of commission on the sale of your property. In most cases, brokers offer a higher amount on the sale of residential properties than they offer on the sale of commercial properties. Although this might be tempting, but you need to ask yourself whether or not your broker has a financial capability and financial resources that can accommodate the costs of the transaction.
You can also check whether or not the real estate agent has been accredited by the United Arab Emirates’ (UAE) Board of Dealing with Foreign Investors (ABDIF). The ABDIF regulates foreign investors in the real estate industry and has strict rules and regulations. This means that the agent you are dealing with must be registered with the BDDI before you sign any documents with him or her. The agents who are members of the ABDIF are known as “agents of record” in that they are authorized to act on your behalf when you are making a transaction with them.
If you have already selected a real estate agent, ask him or her about his or her license and accreditation from the Board of Dealing with Foreign Investors. You should also ask for references. Some agents can also provide you with their contact information.