Property Investment Croatia | High standards for agencies

Posted on July 29, 2012

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We already explained how this crisis on the real estate market that hit Croatia can bring something good, but that is not everything, however.

All agencies are now required to have a working license and their work must be in accordance with the law. Only every fourth of all real estate agencies in Croatia were aligned with the new law before the 27th April when it came into force. After the expiry of an 18 months deadline for qualification, the terms were met by 298 agencies and 554 people. Real estate agency in Croatia must now have a minimum of one employee with a professional examination, it must operate in a space separate from the housing with at least two bedrooms and must have a contract of insurance liability. Although conditions are not too strict, it is expected that not many of the Croatian real estate agencies will be able to fulfill them. Most “agencies” that are operated in the past few years have actually represented unfair competition because they had almost no characteristics of real companies, but were led by individuals out of the basement or from their kitchen, and the state tolerated this out of fear that doing the opposite could negatively affect the market. Today users of services can check anything in the real estate registry and these are important as a direct source that can verify whether the agency in question is legal or involved in “gray area” mediation. It is estimated that currently only one quarter of agencies operating in the market are listed.

Banks have also adapted their business to new conditions, including various actions and benefits trying to actively contribute to improving the situation on the market.

Share of internet real estate business in Croatia also grew significantly. Quality internet marketing of property through blogs and the official website is a good way to attract customers who know what they want. The future of advertising real estate definitely lies in the new technologies.

Despite all troubles, the crisis will still introduce a little order to the almost chaotic property market in Croatia, which will ultimately serve both sellers and buyers.

via Property Investment Croatia | TRASA Real Estate Croatia – Part 6.

Posted in: Croatia