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Cyprus Property News

Free market Economics – Let the Best Agent Win.

Date: 11/11/10

Long term exclusive agency agreements can prevent your resale property in Cyprus from being sold and should come with a "government wealth warning”.

Many real estate agents in Cyprus ask property owners to enter into legally binding exclusive agreements, but are far from ensuring that your property is advertised to widest audience. You may find that properties similar to yours are sold by other estate agents who cannot take your property, because of the exclusive agreement. Yana Osipova at Cyprus Resales  gives some simple advice and lays bear some of the myths related to exclusive agreements.

One can only imagine the frustration of being tied to a  6 months or longer Sole Agency Agreement and knowing that another agent can market your property better and perhaps get that elusive sale. Such agreements are very restrictive by their very nature. The argument often used by agents who offer only Sole Agency Agreements is that their expenditure justifies a commitment on the part of the seller to enter into a sole agency agreement. We think that the only commitment needed form sellers is the opportunity given to an agent to market the property, even if it’s listed with other agencies as well.

 As Yana explains  “At Cyprus Resales  we do not ask sellers to enter into such exclusive agreements. We believe in our ability to market the property with our own resources and with the help of our overseas associates. We are confident in being first to secure a sale.”
So, before entering into such exclusive agreement, pause for a minute and think if the sale of your property can be better handled by multiple agents, spreading your net for more potential buyers and let the Best Agent Win.

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