If you are planning on selling your Bulgarian property, never trust agencies that ask for upfront listing fees right away. Make sure to find an honest agent who really endeavors to push your property on the market instead of someone claiming to provide the best listing services for a fee (usually 500 Euros) without even doing any real effort to sell your property. It is every seller's hope to get a property sold as soon as possible. Hence, he or she does everything to get the property exposed to interested buyers. However, many people fall prey to scammers who disguise themselves as highly successful real estate professionals.
Are Upfront Listing Fees Really Necessary?
First of all, there are generally two types of listing services, free and paid. While it is not necessary to pay a fee to get your property on the real estate list, there are people who want to get their properties sold as quickly as possible. For this reason, some agencies provide a paid option, which allows sellers to get priority listing. However, the seller should always be given a choice. If he or she wants to opt out of the paid service and choose the free listing service instead, then he or she should have the liberty to decide.
If you find out that an agency only lists properties for a fee, then be careful. You may be dealing with a scammer. Nonetheless, if you are given a choice of premium or free listing, then you may as well review what advantages you get should you decide to pay a fee. Remember that if you choose a premium service, you are not guaranteed a sale right away. It depends on how attractive your offer is to buyers. If you really want to sell as quickly as possible, you may be asked by the agency to drop your property's price below market value.
Paying Upfront Listing Fees Can Get You Better Prices on the Market?
This is completely false. It is another marketing tactic used by scammers to attract sellers to pay upfront listing fees. Understand that the open market determines the price of the property on sale. Agents can only sell the property at its current market value, which is the price that buyers are willing to pay. If the price is increased above market value, then people may not be interested to buy the property at all.
Be aware that many scam websites provide falsified testimonials from fake clients. Since anyone with the right tools can create falsified documents of recent sales, you should be very careful when trusting agencies according to what you see on their websites. When you put your property up for listing, it is not a guarantee that it will reach its targeted audience. Hence, it may not really be a wise idea to pay upfront listing fees in the first place.
Better Not Pay Upfront Listing Fees!
While 500 Euros may not sound much in comparison to what you will get in return for a property sale, it is still quite a huge amount to consider. Imagine if you paid 5 agencies to put your property on their listing website. That would equate to 2,500 Euros, which is a large sum. Hence, it would be sensible to find honest agencies willing to put your property on their listing without asking for upfront fees.
If you do opt to pay for upfront listing fees to get better chances of exposure, then you must ensure that you choose the right agency. Do a background research about the company, how trustworthy they are, how many website visitors they get each month, and how successful they are at pushing properties on the market. In addition, determine if they do push properties on the Russian-speaking market, because that is where buyers will most likely come from.