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How to Choose The Best Real Estate Agent in Bali
The real estate market in Bali is still a very desirable option for foreign investors and the housing industry in Indonesia is expected to grow substantially during the coming years. The selling prices of properties have gone down during the pandemic but the income that can be made from renting out your property short and long term and the general property operating costs such as utilities and staff salaries have stayed on a similar level as pre-pandemic. This means that the ROI for your investment can still be very high. If you are a foreigner considering buying property in Bali, you should know how to choose the best real estate agent in Bali to fit your needs.
Whereas buying property in Bali is not actually rocket science, if you want to get things done in a timely manner and with minimal fuss, you need a real estate agent, specifically a buyer’s agent and not a listing agent. A buyer’s agent is legally bound to help the buyer and will guide you through the property transaction and be at your disposal for any questions or concerns. You should always do proper research about the agent options and choose the one you feel connected to and comfortable with as it is very important that an agent listens and adheres to your needs. The more you can communicate with and the more support you receive from your agent, the more positive of a buying experience you will have. Here are the top 7 things you should pay attention to when choosing your agent:
- Proper real estate agent certification
To become a licensed real estate agent in Indonesia, one must acquire a professional property broker certificate. Otherwise, an agent’s legal knowledge is most likely not on the level required and the buyer might not be as protected. You should make sure that at least two employees at your chosen real estate agency have this certification. You should also make sure that the agency has a legal real estate agent registration number and that they are a member of the Indonesian Property Association (AREBI).
- Good understanding of the buyer’s needs
After determining what the buyer is looking for and what they can afford, the agent will schedule appointments to tour homes that fit the bill. The agent can also explain the pros and cons of various properties and neighborhoods, to help buyers decide which property is right for them.
- Negotiation skills
A good real estate agent will advise you on an appropriate price to offer for the property you are interested in and present it to the seller’s agent or owner. They will also handle the price negotiations on your behalf and write up the contracts for you. This is where the agent’s experience in negotiating deals can save you money and help you avoid any pitfalls.
- Professional connections
Your agent should be able to refer you to reliable mortgage brokers, real estate attorneys, notaries, tax consultants, home inspectors and other real estate professionals.
- Local connections
In Bali, it’s very important for a buyer to be able to build a good relationship with the village leader where their property is located. A professional real estate agency will have good social connections and they can introduce the new property owner to the important people in the area and mediate any issues that might arise. They can also help the buyer better understand and adjust to the differences between Balinese and western culture.
- Ability to overcome setbacks
If the home inspector’s report brings new issues to light, an experienced real estate agent is able to advise you on how to proceed with the transaction, and then act as a buffer between you and the seller or their agent.
- Villa management services
Many foreign property investors are not residing in Bali and wish to rent out their property while abroad or they don’t have the proper PT PMA set up to legally handle the rental services on their own. A full service real estate agency will also offer flexible villa management services. This means that they will handle or help with marketing and renting out your property as well as training and managing staff and salaries, utility payments and general maintenance full or part time based on your needs.
Red Lotus Property is headquartered in Bali, Indonesia, with a mission to help people interested in buying, selling or renting residential and commercial real estate as well as looking for villa management services. We are passionate about listening to and accommodating our clients’ requests. Because we apply the authentic local touch, you can always feel safe when doing business with us. We deliver solutions and peace of mind to our clients and help them find the best way to prepare for the future.
If you’re thinking about property or lifestyle investments in Bali and need some professional and friendly advice and guidance, feel free to visit our office in Ubud, send us an email to info@redlotusbaliproperty.com or check out our property website, villa rentals and management website, LinkedIN or Facebook.
