Why Foreign Realtors Work in a Different Way (part 2)

In the previous post we have talked in general how the foreign realtors are different in their duties, real estate commission charges, etc. depending on the country they live and work in. Now we’ll look at the Russian realtors from this point of view as an example.

The author knows first-hand what kind of problems the buyer’s Russian realtors encounter in their work selling international properties to the Russian buyers. Their first and foremost concern is to receive their portion of real estate commissions in international sales in full and on time.

In Russia there are no regulations on the commission size and no rules for sharing the real estate commission. Of course, the size of the commission matters for the foreign realtors a lot. The usual size of commissions that Russian realtors get from international sales can be from 2% to 15% and depends on the country, market segment and property’s price.

Here you can find out more about the details of work of the Russian realtors who represent the Russian buyers in international real estate transactions: http://www.english-and-russian.com/Selling_to_Russians-secrets-of-russian-realtors.html

Essentially, there are two methods for the foreign realtors to secure their commission for sure: To travel together with their buyer to a country where a property is located and stay there till closing on the property (not realistic in most cases, of course), or to have a trustworthy cooperating partner in that country who would get the commission for them at closing. Any other provisions appear problematic as it does not seem reasonable for any realtors to go to court in the foreign countries and to have a legal battle for their commission, right?

As a private seller of a property that you want to offer to the foreign brokers, the most important task for you is to prove to them that they will receive their real estate commission in full and on time.

By the way, as a marketing consultant for those real estate sellers who want to find the foreign buyers, the author receives inquiries daily with a lot of information on properties for sale, but almost never accompanied by any mentioning of the commission to the foreign real estate agents and what is even more important – how the commission will be paid and guaranteed.

A summary: If you want to sell to the foreign buyers through the foreign realtors, make sure you are convincing and open about how they will get their real estate commission.

Copyright © 2016 by Olga Kellen
All Rights Reserved

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