For about four weeks now, I have found almost no new interesting condominiums available in my target area (neither in newspapers nor on relevant websites). There are a few listings that have been on the market for months, which I have personally visited and found to be completely unappealing and overpriced. I have been registered with several real estate agents for about two years, but in the last few weeks, almost nothing new has come up.
Do you think it makes sense to place an advertisement like "Looking for a condominium, 3-4 rooms, region XY" or to actually keep bothering all the known agents by calling them again? Or does it mostly happen through personal networks, regular meet-ups, and parent groups?
Do you think it makes sense to place an advertisement like "Looking for a condominium, 3-4 rooms, region XY" or to actually keep bothering all the known agents by calling them again? Or does it mostly happen through personal networks, regular meet-ups, and parent groups?
Hello "Building Beginner."
Let’s put it this way: there are huge differences among real estate agents. We call it "quality," or more clearly: agents with significant commitment and agents without.
For example, I know that the agent "ImmoLotse24," who is exceptionally dedicated, can instantly display any property listed online or in a newspaper anywhere in Germany on her screen. These are special software programs used by agents, which incur costs that the other category—let’s call them that—tends to avoid.
With an appropriate search order, she can respond immediately and inform interested parties before the “general public” becomes aware of the property.
However, it is currently the case that the real estate market for attractive residential and commercial properties is almost “completely cleaned out.” Depending on the region, you would guess correctly, even a slight hint about a sale in the cool night air makes potential buyers rush to the door.
This is because people with large capital, given the zero interest rate policy, are investing their money in real estate.
A well-sellable residential or commercial property is therefore no longer publicly advertised by sellers to the same extent as before!
Because, in plain terms, the masses would be “storming the place.”
That is why many agents no longer have a suitable offer available.
If, on the other hand, the sale of a property is intended to finance another property and a follow-up mortgage is necessary, there are (unfortunately) indications that banks only grant this if the property is sold through the bank.
The ones who suffer are ordinary citizens, like you.
Instead of spending money on an ad in one of the daily newspapers, invest it better in a search request with a real estate agent you trust.
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Best regards: KlaRa
Let’s put it this way: there are huge differences among real estate agents. We call it "quality," or more clearly: agents with significant commitment and agents without.
For example, I know that the agent "ImmoLotse24," who is exceptionally dedicated, can instantly display any property listed online or in a newspaper anywhere in Germany on her screen. These are special software programs used by agents, which incur costs that the other category—let’s call them that—tends to avoid.
With an appropriate search order, she can respond immediately and inform interested parties before the “general public” becomes aware of the property.
However, it is currently the case that the real estate market for attractive residential and commercial properties is almost “completely cleaned out.” Depending on the region, you would guess correctly, even a slight hint about a sale in the cool night air makes potential buyers rush to the door.
This is because people with large capital, given the zero interest rate policy, are investing their money in real estate.
A well-sellable residential or commercial property is therefore no longer publicly advertised by sellers to the same extent as before!
Because, in plain terms, the masses would be “storming the place.”
That is why many agents no longer have a suitable offer available.
If, on the other hand, the sale of a property is intended to finance another property and a follow-up mortgage is necessary, there are (unfortunately) indications that banks only grant this if the property is sold through the bank.
The ones who suffer are ordinary citizens, like you.
Instead of spending money on an ad in one of the daily newspapers, invest it better in a search request with a real estate agent you trust.
--------------------------
Best regards: KlaRa
S
stefanc8416 Feb 2017 00:30It probably depends on the region. But we searched for 5 years, including browsing listings on platforms like Ebay Classifieds and others, as well as hiring real estate agents. Occasionally there were some new listings, but they were always unsellable fixer-uppers. During all that time, not a single agent ever proactively contacted us; they simply didn’t need to.
So, not seeing anything interesting for 4 weeks seems quite normal to me. Yes, the market is bought up in many areas, and yes, good properties are definitely sold off-market. Getting access to those is then purely a matter of luck.
So, not seeing anything interesting for 4 weeks seems quite normal to me. Yes, the market is bought up in many areas, and yes, good properties are definitely sold off-market. Getting access to those is then purely a matter of luck.
B
Bauanfänger3616 Feb 2017 18:30@KlaRa: Thanks for the detailed information. I will contact the real estate agents again.
@Yvonne
A few real estate agents provided useful offers... as a "new" and "exclusive" property. One week later, it was listed on Immoscout.
@Yvonne
A few real estate agents provided useful offers... as a "new" and "exclusive" property. One week later, it was listed on Immoscout.