Finding your dream home or ideal investment in Tel Aviv is most often a daunting task. Whether you are a foreign resident or a new immigrant to Israel, buying a piece of real estate in Tel Aviv requires the assistance and expertise of a trained professional. While purchasing real estate anywhere in the world is most often a challenging process, here in Israel, where the laws and processes are quite different than from North America and Europe, extra care is needed in order to get the best deal possible.
Working with a fully licensed and professional property agent or real estate broker in Tel Aviv is the best way to begin your search for your new property. When searching for someone to work with, always ensure that the office or agent is licensed, as most individuals in Israel who pose as property brokers are, in fact, unqualified and unlicensed, making it illegal for them to work in the field of real estate. Always be sure to request to see the license card (just like a driver’s license) of anyone you do business with. When beginning your relationship with a property agent, you will be asked to sign upon a document stating that you will pay 2% commission of the sale price of a property, the standard practice here in Israel. Never sign with anyone requiring money for a search or monies to be paid upon an offer being submitted.
Your real estate broker, if professional and qualified, can open the doors to almost any apartment within the city, giving you the option to work with only one person dedicated to your search. The advantages of this are clear. A good property agent in Tel Aviv will stay by your side, offering you properties that specifically meet your specifications, whether or not it is their exclusive property or not. Be weary of any broker who claims to work only on “exclusive listings”, as these property agents will only look out for their best interest, as they in most cases will be receiving money from the seller’s side as well. According to Israeli law, the broker must disclose to you any personal interest they have in a property, including the payment of commission. Make sure that if you work with a broker that they cooperate with others, enabling you to see all properties on the market.
Overall, working with a property agent in Tel Aviv is a great opportunity for you to find your perfect apartment or home in the city. Some final tips:
1. Make sure your broker speaks your language fluently – many property agents in Tel Aviv speak English to a degree., though the majority do not. It’s best to try to find someone who is easy to communicate with, as to prevent miscommunications as much as possible.
2. Ensure that your broker is returning calls and keeping you “in the loop” – if they won’t, you can find someone who will.
3. Don’t allow a property agent to “educate” you on what you want – just because they don’t have what you want and are unwilling to find it, doesn’t mean that someone else won’t find it for you!
4. Work with a professional – if a broker shows up to a meeting late with notification, wearing torn up clothes, smoking a cigarette, and is disrespectful to you and your time, go ahead and move along.
We at the Maki Group, pride ourselves on providing professional and reliable service to our clients in the most timely, beneficial, and dependable way possible. When working with the Maki Group, you will never be “double-booked”. As a rule, we only represent one side in the transaction, you. We work with hundreds of property consultants, brokers, and developers in Tel Aviv, enabling us to best represent your interests and provide you with the depth of the market. Call us today and see for yourself.