For many investors, the process of buying property requires significant time, effort and attention. It’s always a responsible step and a substantial investment as real estate itself is a complex asset. Therefore, buyers often prefer to simplify the process by using the services of agents. In this article, we will discuss how to choose a knowledgeable professional who can navigate the Indonesian property market.
Content:
- Mandatory skills of a qualified realtor
- Finding a specialist and monitoring reviews
- Verification of realtor’s experience and qualifications
- Overcoming the language barrier
- Assessment of the agent’s communication skills
- Discussion of compensation
- Choosing a realtor well-acquainted with the local market
- Responsibilities of the specialist
- Buying property in Indonesia
Mandatory skills of a qualified realtor
A competent real estate agent must be aware of the latest news about upcoming residential complexes, legislative norms and events happening in the selected region. Here are at least five responsibilities of a realtor:
- Providing clients with up-to-date information on housing conditions and prices, as well as compiling a suitable list of properties for buyers based on their budget and needs.
- Comparing similar real estate properties in the area to identify the most advantageous offers.
- Assisting buyers in the transaction process.
- Managing all stages of the deal, providing all necessary documentation, including lease or sale contracts, to relevant government structures for registration.
Additionally, an agent’s important task is to advocate for the buyer’s interests during negotiations with the seller.
Finding a specialist and monitoring reviews
When selecting a real estate agent in Indonesia, it‘s essential to research the market offerings. Today, there are plenty of specialists available, so it’s worth taking the time to compare the quality and cost of their services to choose the most suitable option. It’s recommended to review feedback on Google Maps and official agency websites, examine their ratings on external platforms and check their profiles on social media. It’s also worthwhile to visit some real estate websites independently to familiarise yourself with the market situation. If possible, talk to property owners, friends or acquaintances living in the region to get firsthand recommendations.
Verification of realtor’s experience and qualifications
Your real estate agent should possess adequate qualifications and it’s crucial for them to possess extensive, relevant experience in dealing with the type of property that interests you, be it villas or resort properties,. They should also be well-versed in price levels and factors influencing their increase or decrease.
Given the absence of a mandatory license for real estate agents in Indonesia, there’s a risk of dealing with unqualified professionals who may be unable to provide proper support in such a significant financial decision. Therefore, it’s recommended to inquire about the candidate’s qualifications and certificates obtained both domestically and internationally. For instance, some companies are officially recognised by the Indonesian Association of Real Estate Brokers (AREBI) and it’s advisable to rely on such entities.
Overcoming the language barrier
Make sure that the specialist is proficient in English if that is your chosen mode of communication. The culture in this country is characterised by hospitality and respect and at times, individuals may nod or agree with you without fully understanding what you are saying. Misunderstandings or translation errors in such situations could result in the loss of thousands of dollars. If you do not speak English, you may need a translator to facilitate communication.
Assessment of the agent’s communication skills
Consider how promptly the person respond to your requests and whether they value your time. If you’ve scheduled a meeting, observe if they arrive on time or make you wait without notice. A skilled agent should be proactive, initiative and capable of proposing solutions, minimising your involvement. The manner in which the realtor communicates with you during the inquiry stage can reflect the overall level of customer service. Assess their professionalism and courtesy. Are they genuinely interested in assisting you in finding suitable real estate or are they merely waiting for your instructions? Are they trying to sell you additional services? Pay close attention to all these aspects.
Discussion of compensation
Realtors charge various commissions, so it’s crucial to discuss this matter in advance. Before making a decision, ensure that you understand all the expenses associated with the contract. Your collaboration should remain transparent. Regarding fees and expenses, it’s crucial that your agent does not set prices with property owners without your explicit consent. Note that there’s no standard commission in Indonesia, despite some forums claiming it’s 5% of the property’s value. Once you’ve chosen a realtor, document all the conditions in writing to safeguard yourself in case of any issues.
Choosing a realtor well-acquainted with the local market
When purchasing property in a specific area, it’s crucial to choose an agent well-acquainted with that locality. The real estate market in the country is highly diverse and many factors depend on the location. There are numerous aspects, ranging from local government regulations and property prices to construction permits. Your ideal realtor should adeptly present various neighbourhoods, assisting you in finding real estate that fulfills all your needs. They should explain the potential pros and cons of the chosen property or region and assess how well it aligns with your lifestyle.
Responsibilities of the specialist
The workload of a good agent is quite extensive. Their responsibilities include the following:
- Familiarising themselves with the housing market and answering all questions related to legal aspects of property ownership;
- Negotiating the budget and discussing the price with the owner of the selected property (if you are making a purchase in the secondary market);
- Promoting your property if you are selling or renting it out;
- Maintaining a database of all listings in the area with accurate contact information;
- Organising viewings and meetings;
- Facilitating the transaction through a legal team to acquire land or property in a lawful manner and without tax or other complications;
- Completing the deal and preparing all necessary documents.
We hope these recommendations will help you make a choice in favour of a professional who will assist in achieving your goals!
Buying property in Indonesia
On our real estate aggregator website, you can find options with various characteristics: modest apartments, spacious houses or luxurious villas. You can use convenient filters and choose suitable offers based on price, area, location and other parameters. Prices, for your convenience, are listed in different currencies.