What you need to know when buying an apartment through an agency

In the field of home sales, real estate services are offered by a huge number of companies, and it is very difficult to decide which real estate agency to give your preference to.

The buyer should pay attention to the history of the company, the experience and professionalism of the employees; the cost of services can also play a significant role; it should not be extremely high and, conversely, too low.

Realtors simplify the process of buying an apartment , but there is always a risk of fraud from such organizations. In order to protect yourself, you should pay special attention to the contract with the company, clearly understand the range of responsibility of the representative, the scope of your personal rights and obligations.

Choosing a real estate agency

The market for real estate services is replete with a large number of offers; in order to choose a reliable and high-quality agency that can organize a successful transaction, the buyer must determine the priority points that need to be given special attention, usually these are:

Period of operation of the agency. Extensive experience characterizes the organization as an experienced and successful representative of services in the field of home sales.
Number of company employees. A large staff indicates the development and stability of the agency.
Prices for services. Typically, the cost of real estate agency services is approximately the same. However, if the price is clearly too low, then this should alert the client.
Official website of the organization. A company that cares about its image carries out careful work on the website; it should be rich in information about contacts, employees, organizational documents, objects and offers of realtors.
Agency office . The location, interior design, and advertising signs of the premises play an important role, since there are frequent cases of the creation of fly-by-night companies.
Social activities, that is, membership in various associations, for example, the Russian Guild of Realtors (RGR). The presence of a certificate from this type of association allows clients to verify the high professional training of workers who, in order to obtain a document, must undergo training and pass an exam.
Availability of various awards, certificates (diploma for active development of the mortgage market, letter of gratitude for legal support of public activities of the RGR).
Reviews about the organization of realtors . It will be useful for the buyer to find out other people’s opinions about the company and visit various Internet portals and forums.

If an agency has relatively little experience in the real estate market, this is not always an indicator of the company’s unreliability; it is important to pay attention to the reputation and professionalism of the company’s employees.

How to check a real estate agency for cleanliness?

Before contacting this or that agency, you should make sure that your choice is correct; for this, the buyer must:

Check company documents. You need to make sure whether the organization has the necessary certificates, attestations, and request an extract from the Unified State Register of Legal Entities (USRLE).
Contact the tax authority, arbitration court, to determine whether the company has violated the law or is not bankrupt.
As a realtor, you need to check the employment contract with the agency he represents.
Particular attention should be paid to the contract that the buyer enters into with the company. The conclusion of a written document that meets all legal requirements guarantees the legal purity of the transaction .
It is important to clarify whether the agency checks the history of the proposed apartments, the powers of the owners, and the authenticity of the information. Usually there is a lawyer on staff who performs such actions.

Example

Citizen B, in order to buy an apartment, turned to a real estate agency that recently opened near her home. The realtor, without concluding a contract, immediately offered a housing option. The client liked the apartment, she made the payment and completed the necessary documents.

Citizen B moved to a new address, but two weeks later Citizen R came to her apartment, claiming that he was the real owner of the premises. Having gone to court, it turned out that the agency acted according to a criminal scheme, with the help of forged documents, false forms, seals and a fake notary, they executed an agreement for the sale and purchase of an apartment that they rented from Citizen R. The court determined that Citizen B does not have legal rights to housing, and to protect her interests she needs to apply to the judiciary.

You can check a real estate agency yourself or by contacting notaries or lawyers , which of course will require additional financial costs, but will most likely guarantee the reliability of the buyer’s choice.

Who should pay real estate commissions?

Of course, the one who needs such intermediary services pays. If you need to sell real estate, then you pay for the services of a broker to find a buyer; if you need to buy living space, then you pay for the selection of housing options that suit your parameters.

However, often it is the buyer who pays. This fact is based on the fact that apartment owners very rarely contact the agency with a request to put their property up for sale. Most of them prefer to submit free advertisements in newspapers or on websites where intermediaries will find them themselves. This way they avoid paying realtor fees. True, in this case, several intermediaries take on the sale of the same property at once. Knowing that they have competitors who can get ahead of them or negotiate with the owner for a faster sale, many brokers consider this a risky deal and will not invest additional effort or money in special promotion of such a property.

As a result, several clone advertisements appear at once, about the sale of the same apartment, only with different prices for it. By calling, you will find out that, unfortunately, this property has already been sold, but there is another, better one at the same price. That is, the realtor will always try to sell exactly the property with the owner of which he has a sole agreement. Therefore, do not try to save money and always choose one real estate agency, otherwise your apartment may take years to sell.

Why do you need a realtor when buying an apartment?

When purchasing real estate, many buyers refuse to search for housing on their own and resort to the services of realtors. This can be explained by the fact that specialized agencies are professionals in their field, and should make it easier for the buyer to purchase an apartment by performing the following tasks:

Consultation on legal and technical issues that arise for the client.
Organization of the search process, negotiations, finding options that meet the buyer’s wishes.
Consideration of possible shortcomings of the area, checking the condition of the entrance, apartment.
Clarification of the question about those living in the house.
Coordination of conditions and verification of the legal purity of the transaction (authenticity of documents, legality of powers of home owners and their representatives).
Monitoring prices on the real estate market , selecting the most profitable offers.
Cooperation with banks, assistance in obtaining mortgages, loans for the purchase of real estate.
Legal support of the transaction , conclusion of a purchase and sale agreement, registration of housing ownership, assistance with state registration.
Resolution of possible disputes.

Despite possible cases of fraudulent activity, contacting realtors can significantly speed up the process of finding an apartment.

A competent and qualified specialist protects the interests of the client, taking into account his wishes and needs.

Realtor services when buying an apartment

When using the services of real estate agencies, the buyer has the right to count on the efficiency and safety of their work. When purchasing an apartment, a realtor performs the following functions:

finds out the situation on the housing market in order to understand which apartment the client can apply for, based on his preferences and financial capabilities;
if there is a shortage of funds, looks for suitable lending options;
determined with a convenient time to view the property;
negotiates with the seller on the price and other conditions for the sale of the apartment;
checks the information provided by the owner, analyzes possible risks;
prepares the documents necessary for the transaction, draws up a purchase and sale agreement;
carries out mutual settlements between the parties (cash payments, use of a safe deposit box);
monitors compliance with the client’s rights when making a transaction with a notary;
carries out checks on the removal of all residents from the purchased apartment;
prepares, sends and receives the necessary set of documents for state registration of property rights.

It is important to clarify whether the real estate agency is a participant in the professional liability insurance program so that losses that the buyer may incur if the realtor makes a mistake are compensated.

Risks when acting independently

The risk of falling for the tricks of scammers.
Registration of property rights with errors and inaccuracies.
Purchasing an apartment with an encumbrance.
Sale of housing by an incapacitated citizen.
The house is included in the resettlement plan.

Finding and purchasing an apartment on your own, without the services of an agency or intermediary, is not impossible, but it does require significant time and financial costs. In order to guarantee the legality and correctness of the transaction, it is recommended to involve specialists at least for some stages of the procedure.

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Agreement with a real estate agency for the provision of services

In Russia there is no single standard agreement concluded with real estate agencies, therefore each company, at its own discretion, determines the content and terms of such an agreement. Buyers should pay special attention to the following nuances, which must be specified in the contract:

A list of services that the agency must provide for the client, in what volume (advertising, legal, consulting services).
The relationship between the rights and obligations of the parties under the contract, the requirements imposed on the client must be feasible and reasonable.
Remuneration for services.
The term of the agreement is usually for at least one year.
The provision that the client can at any time request a report on the work done by the realtor, the deadline for submitting the report.
Termination clause . The buyer has the right to refuse the services of the contractor at any time, paying for the actual costs incurred.
You should especially carefully read the small print, which usually indicates information regarding the responsibility of the agency itself .

In some cases, companies may include the following clauses in the contract (which is not legal):

The agency has the right to have the difference between the sale price of the property and the cost that will be specified in the agreement. This is the so-called hidden commission , that is, money that realtors want to receive in addition to the amount already paid by the client.
Provision prohibiting the buyer from communicating with the seller and his representatives. This suggests that the company also seeks to obtain additional unofficial enrichment.
The client does not have the right to contact other intermediaries; for violation of this condition, high penalties may be imposed.

If the buyer wishes to add or exclude any provisions of the contract, he has every right to do so.

Changes must be immediately made to the document or recorded in writing, as an additional agreement or protocol of disagreements.

A little about the responsibility of a realtor

The problem with realtors is that their qualifications, certification and certification are not specified anywhere in the laws. The agency employee is responsible only for the result, that is, the transaction will take place or not. But this is where his field of responsibility is limited. Indeed, from a legislative point of view, it is almost impossible to prosecute an employee of the Academy of Sciences for violation of transaction guarantees. He does not provide such a guarantee, although similar clauses may be spelled out in the contract.

It turns out that the realtor’s honesty is not enshrined in law, but remains a risk factor. It depends on the personal qualities of the person or on the moral values of the company in which the agent works. A typical case: after purchasing an apartment through a real estate agency, a situation arose and the transaction was declared invalid. The buyer will not be able to demand compensation from AN for the failure of the transaction, since the agency was not legally its guarantor.

Complete turnkey apartment renovation

Everything is included The cost of repairs includes everything: work, materials, documents.
Without your participation After agreeing on the project, we only bother the owners when the repairs are completed.
The price is known in advance. The cost of repairs is fixed in the contract.
Fixed repair period Turnkey apartment renovation in 3.5 months. The term is fixed in the contract.

What to look for when choosing an apartment?

When choosing a property, agencies should be based on the capabilities and preferences of their client. There are main points that a realtor pays close attention to:

Real estate value.
Availability of transport links, proximity to a stop.
Arrangement of the yard area, presence of a children's playground.
Technical condition of the house, entrance, proper operation of the garbage chute, elevator.
Housing layout, view from the window.
Interior furnishings of the apartment, external defects, quality of plumbing, serviceability of water supply, heating system, electrical networks.
Infrastructure of the area (kindergartens, schools, hospitals, pharmacies, shops, etc.).
The floor on which the apartment is located.
Residents of the house, their social status.
Year of construction, type of property (brick, panel, monolith).
Ecological condition of the area, proximity to factories, airports, landfills.

The acceptability of the cost of the selected object can be assessed by the realtor himself.

For a more accurate determination, it is worth contacting professional appraisers to be sure that the price of housing is not inflated.

What questions to ask about the object?

The main questions to ask before concluding a deal are:

Cost of the object.
Whether the sale is a direct or alternative transaction.
How many owners? Are any of them minors?
Tenure of housing.
Who is registered in the apartment.
Was there any redevelopment? If so, was it agreed upon with the BTI?
Are you ready for a deal with borrowed funds?
Technical condition of the object.
District infrastructure.
The name of the developer's company, if the house was recently completed.
Cost of housing and communal services.

How does buying an apartment through an agency work?

After the buyer has decided on the choice of real estate, an equally important and complex process awaits - completing the purchase of an apartment . The agent must accompany the client at every stage, provide assistance and assistance.

The real estate agency checks the legal purity of the property : it establishes the legality of the rights of the owners, the fact that the tenants have been discharged, and the full legal capacity of the seller. Requests an extract from the Unified State Register and the house register, contacts the mental and drug control authorities, and checks documents confirming ownership.
Apartments must be free from the rights of third parties and not be encumbered, for example, under mortgage or arrest.
Subsequently a sales contract ; the intermediary must ensure that it is written correctly and correctly so that the contents of the document do not violate the rights and legitimate interests of the buyer.
After which, you should make payments for the transaction , in cash or non-cash forms. When paying in cash, the buyer is given a receipt . The most reliable non-cash method is to use a safe deposit box.
Ultimately, state registration of ownership is required.

If the buyer gives preference to housing in new buildings , then the realtor should be especially careful when choosing a developer , find out his work history, timely delivery of objects, visit the official website, review the constituent documents, project declaration.

To complete the purchase of an apartment, the realtor must obtain a notarized power of attorney .

Through it, the agent has the right to represent interests and carry out on behalf of the client all necessary actions for the preparation, collection, delivery and verification of documentation.

How to buy an apartment on the secondary market through a realtor?

Purchasing an apartment on the secondary market may be accompanied by a number of features that both the buyer and the realtor should pay special attention to:

Condition of the house and yard area. It is important to carefully inspect: the façade of the building, the area of children's and sports grounds, the entrance area, and the condition of the elevator.
In the apartment, you need to check the operation of utilities, plumbing, and exhaust hood. Assess the level of illumination and the absence of external defects.
It is worth comparing the apartment with the BTI plan to make sure there are no illegal alterations.
The realtor must identify possible problematic legal issues (fake documents, lack of permission to sell from a spouse, minor tenants - their registration is extremely difficult).

It is worth considering that even the largest and most competent agreement with a real estate agency does not provide a 100% guarantee of the reliability of the transaction, realtors cannot check all possible potential risks , and fraudsters are often active in the secondary housing market, so the choice of housing of this type should be approached with special care. thoroughness.

When buying an apartment on the secondary market, the intermediary can and should try to reduce the price , that is, bargain.

Even if the buyer has the necessary amount of money, the agency must provide its client with the most favorable conditions for purchasing a home.

Features of the real estate purchase and sale transaction

Participants in a real estate purchase and sale transaction must be aware of possible risks, understand the degree of responsibility, and be able to find a solution where possible or refuse the transaction:

The purchase and sale agreement is drawn up in simple written form, indicating the parties and the essential terms of the transaction.
The procedure and method of transferring funds, as an advance payment and full payment for the object, are reflected in the contract.
When selling an apartment purchased during marriage, the consent of the second spouse for the sale will be required (Article 36 of the RF IC).
The agreement can be notarized at the request of the parties.
When selling a share or involving minors or incapacitated citizens in the transaction, notarization is mandatory.
If one of the owners is a minor, permission from the guardianship authority must be obtained to carry out the transaction.
If maternity capital is used to purchase an apartment or pay off a mortgage, shares in ownership must be allocated. You can find out whether maternity capital was used when purchasing the apartment for sale from the sales contract, which will indicate how, and with what funds, the apartment was purchased. You can request a certificate from the seller about the balance of funds on the certificate.
Check the registered persons, whether there are temporarily absent ones, for what reasons and who they belong to the owner. This data is presented in an extract from the house register.
The apartment may be pledged to the bank under a mortgage, or a ban on registration actions has been imposed on the apartment for other reasons. This information is contained in Section 2 of the extract from the Unified State Register.

Each case is individual. Only a competent specialist will be able to take into account all the nuances and conduct the transaction correctly without risk to the parties.

Cost of realtor services when buying an apartment

Each real estate agency evaluates its services differently , for example, small companies try to adapt to the average price level established on the market and even reduce the cost in order to attract clients. Large organizations have the opportunity to dictate their terms based on experience, reputation, and fame.

The realtor's services are paid for by the employer . Various factors can influence the formation of the cost of services: the legal complexity of the transaction, the duration of the contract, the cost of the property.

There are two main ways to determine the price:

The cost of services is in a fixed amount, approximately from 30,000 to 100,000 thousand rubles, depending on the region.
The cost, determined as a percentage of the home price, usually ranges from 2% to 5%.

Example

The apartment is being sold for 2,300,000 million rubles, with the company’s established remuneration of 4%, the cost of real estate agency services will be 92,000 thousand rubles.

The procedure for setting prices by real estate agencies is arbitrary, although usually the volume of services provided and the list of documents required to collect when purchasing apartments are exactly the same.

Lawyer's answers to frequently asked questions

Who sets prices for realtor services?

The cost of services is not regulated by law. Specialists set their own prices for their services. The cost of services depends on the following parameters: the region of the transaction, the complexity and duration of registration, the cost of the object. The realtor's services are paid for by the customer. You can find out more about the cost of realtor services → here

How to check an individual entrepreneur for permission to provide real estate services?

A citizen must have a certificate of entry into the Unified State Register of Individual Entrepreneurs. The extract from the Unified State Register of Individual Entrepreneurs contains information about the types of economic activities of this entrepreneur. As a rule, the realtor provides these documents upon meeting and the document data can be specified in the contract for the provision of services.

When should I pay for the services of a realtor?

The parties independently agree on the procedure and method of payment and stipulate it in the contract. As a rule, settlement occurs upon the fulfillment of obligations under the contract.

Is it possible to terminate a contract with a real estate agency?

You can terminate a contract with a real estate agency in cases where the customer’s life situations change or the contractor fails to provide services. The conditions and procedure for terminating the contract must be provided for in the contract for the provision of services.

How to terminate a contract with a real estate agency?

Agreements with realtors, regardless of the specifics and volume of services provided, are subject to the guarantees of the Federal Law of 02/07/1992 No. 2300-1 “On the Protection of Consumer Rights”.

Within the meaning of Art. 32 Federal Law No. 2300-1 dated 02/07/1992, the client has the opportunity to cancel the contract at any time. The only consequence of such a refusal is the payment of expenses actually incurred by the agency , the presence of which must be documented.

The grounds for termination may be:

Failure to provide services within the specified time frame.
Buying a home on your own.
A change in the client’s life circumstances, due to which he changed his mind about purchasing property, etc.

a written notice is submitted to the real estate agency in two copies, on one of which the receiving party puts its mark of acceptance .

Notification can be sent by mail or registered mail. The document must indicate the intention of termination and the date of refusal of services.

The real estate agency's demand that the buyer pay a penalty upon termination of the contract is unlawful.

If remuneration is paid, then he is obliged to return this amount, minus expenses for the services provided. If within 10 days from the date the buyer sends the notice the agency does not fulfill the necessary conditions for termination, the client has the right to go to court (Article 31 of the Federal Law of 02/07/1992 No. 2300-1).

The buyer has the right to demand that the company pay a penalty in case of untimely return of remuneration for services, in the amount of three percent for each day of delay (clause 5 of article 28 of the Federal Law of 02/07/1992 No. 2300-1).

Necessary measures when working with an intermediary

When working with a realtor when selling real estate, there are a number of features:

All oral agreements must be confirmed in writing.
The contract must clearly state the subject of the contract and the personal data of the parties.
The agreement must specify technical information about the housing.
Clearly define the amount of the agent's commission.
Specify the validity period of the agreement and the conditions for its termination.
List the responsibilities of a real estate agent when selling.

Important! The customer has the right to make changes and adjust the contract if it is in his interests.

Responsibility of the real estate agency to the buyer

Many real estate companies try to minimize their liability and avoid possible losses. Although the current legislation is on the buyer’s side, in practice, the responsibility of a real estate agency is limited to the maximum amount of remuneration received ; collecting penalties or penalties is extremely problematic.

To protect yourself, the terms of reference and responsibility of the realtor should be clearly defined in the contract.

Risks associated with purchasing a home may include the following:

Errors were made when preparing documents for the transaction.
Fraudulent actions in relation to the purchased apartment.
The interests of minors and heirs are not taken into account.
Transactions previously made for the sale or privatization of real estate were illegal, etc.

If the above situations are identified, agencies often do not bear responsibility.

You can protect yourself with title insurance. This is a guarantee of compensation for possible loss of rights to real estate. The buyer should contact the insurance company to obtain a title insurance policy.

An important difference between title insurance and other types is that it protects a person from events that have occurred but are unknown at the time of concluding a real estate transaction.

How to choose it correctly?

To choose the best realtor, use the following sources:

Reviews and recommendations. Talk to your friends and family who have used similar services before. A loved one will never recommend a bad specialist.
Personal work experience. If it is positive, then the best solution is to contact a trusted person.
Search on the Internet and in print publications. Your agent may be closer than you think. Call several numbers and chat with each of them. Perhaps someone will seem close to you from the very first minute, while someone will push you away.
Visit a real estate agency. Such organizations employ a large number of agents who are ready to solve problems of any nature.

To avoid making a mistake, consider the following qualities of an agent:

Experience. Remember that a person can work for 20 years, but still not have many clients. The ability to win over oneself, as well as respect for the opinions of other people, speak of high professionalism. During a personal meeting, you will be able to understand how interested the realtor is in working with you.
Licensing. Nowadays, this is also not a high-level indicator, but if you have little time, you should still contact a person with a license. He knows exactly how to help the client, even if the amount of money for the purchase is extremely small, and the expectations are too high.
Localization of work. Some specialists work in specific areas. For example, you want to purchase real estate on the outskirts of Moscow, so you should contact a specialist who knows the area well and can select several options for you in order to save your time and show respect for the client.

Advantages and disadvantages of purchasing housing directly from the developer

It seems at first glance that the main advantage of working directly with a developer is saving money. The 2-3% or more that the developer is willing to pay to the realtor for the referred buyer will be given to the direct buyer. If an apartment costs 3-4 million rubles, the net savings is from 100 rubles.

However, developers are in no hurry to give additional discounts to clients, since most often these funds are intended to pay the developer’s sales manager.

And here comes a surprise:

The manager of a particular developer is interested in selling a particular property as expensive as possible. He will keep silent about some “nuances” of the reputation of the developer himself, he will keep silent about the quality of construction or other unpleasant moments. But he will extol everything that can be praised.

A real estate agency specialist does not have the task of selling the property of a particular developer at any cost, because all developers pay a commission and approximately the same one. And here the objective analysis and experience of a specialist lead to direct benefits and safety for the buyer.

Additional benefits of working with an agency:

Loan from a partner bank on preferential terms;
Assistance in preparing documents both for the purchase of an apartment and for obtaining a mortgage loan.

For reference: all current developer discounts, as well as all prices and promotions, are saved for the SPIC real estate client, while the client does not pay anything to the agency!