The service your agent should be giving you
When considering a property transaction, there are a few parties involved: the willing buyer and the willing seller, the estate agent who acts as intermediary, the financial institution managing the mortgage and insurance, as well as the conveyancers handling the legal aspects.
This column in HouseFinder aims to enlighten readers on the role estate agents play and the expectations all parties should have of one another. The very first question, that any potential tenant or buyer should ask, is whether the estate agent is registered with the Namibian Estate Agency Board
(NEAB). Every estate agent has proof of registration and should furnish the client with a NEAB card. If the agent cannot show registration with the NEAB, such a person is not a real estate agent, and may not operate as such. Potential tenants and buyers should be wary of such operators. Members of the public have the right to expect professional estate agent services. Agents should be quick to respond
to phone calls, WhatsApp’s, messages, and emails. Furthermore, they should be on time for appointments and meetings, wear professional dress and a name tag from the agency they represent. Clients need to sense that they are in good hands.
Agents should know and be able to explain the difference between sole/exclusive, dual, and open mandates, sectional titles, freestanding properties, vacant land etc. They should be able to differentiate
between contracts and which contracts apply to the different types of property on the market.
Furthermore, they should understand the difference
between a first-time buyer, second-time buyer, or property investor, as well as the difference between a natural person and legal entities such as close corporations, companies, or trusts.
Professional agents should offer to assist with municipal regulations
such as compliance certificates and water and electricity connections. Assistance would also be welcomed with bond applications at the bank. They should be well informed about which documents and information the bank would require from you as potential buyer and be willing to assist or handle this on your behalf.
In addition, they should be capable of managing
the bond and transfer process, assisting, and answering questions as time passes.
A professional agent is an agent who is finely attuned to his/her clients’ needs and emotions and will go the extra mile to ease the process of buying or renting a property.