Selling a property? Choose a reliable and experienced partner in the real estate business

It is not an easy task, and this applies twice over in the Czech market, where no regulatory legislation exists for the work of property brokers. It remains an unregulated trade, so, with a little exaggeration, anyone can do it without the relevant education, experience or practice. The reputation of brokers is also continually damaged by various fraudsters and amateurs, but this should not discourage you – there are reputable, independent real estate companies you can rely on, and for the amount you invest, you will receive the corresponding care from professionals.

“I recommend choosing only reputable agencies with a long-standing presence in the market and satisfied clients who are willing to share their testimonials. However, this does not mean you should be tempted by a well-known name and automatically choose a large real estate agency. That is not necessarily synonymous with quality services and expert advice. Do your own research, shortlist the real estate agencies you would consider, and review the services they offer. It pays to compare them before signing a cooperation agreement,” says David Novotný, owner and managing director of Bohemian Estates. He founded the company in 2006 with the vision of offering both small and large investors truly comprehensive solutions in the management of and investment in residential and commercial property, including its sale. The aim was to bring all the necessary services under one roof and establish a professional position as a qualified partner with knowledge of the Czech market. Bohemian Estates now manages more than 2,000 flats in the Czech Republic and abroad, with a total value of CZK 15 billion.

You can recognise a good real estate agency simply by the fact that it delivers the maximum range of services for the commission paid, with the aim of speeding up and simplifying the sale. “Above all, do not compromise on the high standard of presenting your property, as this reveals the most about your sales strategy. Professional photographs are a matter of course, and I also strongly recommend quality pre-sale preparation, known as home staging. It is also important whether the real estate agency has its own team of sales specialists – from graphic designers and designers to legal and technical specialists. This is particularly important for the security of the entire transaction. Documentation tailored to each client is an absolute essential, as are legal due diligence and the removal of legal defects – all of this should be covered by the commission,” explains Novotný.

You will also do well to check the Commercial Register, annual reports and financial statements. In other words, try to find out how the real estate agency is performing financially. In this age of widespread internet use, it is no problem to find out online within a few minutes whether, for example, the real estate agency is insolvent.