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What Can You Expect from Russian Realtors?
June 04, 2019
By definition, Realtors are usually of the following major types: Seller's (represent a Seller) and Buyer's (represent a Buyer).
Seller's Realtors would advise the Seller on the best pricing of the property for sale, take pictures (sometimes a video too), prepare a description and then list the property on MLS (in the countries where it exists), also on their own website and various real estate portals, possibly advertise it in print, sometimes create a separate property's website, etc. - in other words, they should do everything to market the property for sale.
The Seller's Realtors may be exclusive or non-exclusive (we understand that non-exclusive agents wouldn't spend as much on marketing as exclusive, as they realize that the Seller can sell without them, and then they spent their marketing money for nothing…).
Buyer's Realtors would search for appropriate properties for sale according to the Buyer's specification, advise the Buyer on the current market trends, help with negotiating the price, etc. - in other words, they should do everything to help the Buyer fulfill his real estate dream.
The Buyer's Realtors may be exclusive or non-exclusive (we understand that non-exclusive agents would try to satisfy the Buyer's needs only to some extent, as they realize that he can buy without them any moment, and then they worked for nothing…).
Now, let's see where Russian Realtors stay in this picture - in case you need their help with selling your international property (in any country of the world) to the Russian Buyers? How can they help you and what should you expect of them?
May Russian Realtors be your Seller's agents?
The answer is "no" most of the time (unless you grant to them exclusive legal rights to sell your property - I've never seen it happened…). The Russian Realtors are far away from your property, thus they will only rely on your description, photos and video.
As non-exclusive agents, they won't spend on marketing your property, but of course they might easily place it on their agency's website, and sometimes on real estate portals where they purchase spots in bulks and have to fill them with some properties (to promote their agency and bring the Buyers to their doors!). Why not your property to showcase?
Yes, the Russian Realtors could "sort of" market your property for sale in the Russian market, IF you provide them at least with 1. Good property description in Russian, and 2. Good property photos according to their specifications for posting.
Once again, they could use your property to attract attention to their agency, but won't spend money, time and effort on marketing your property specifically (unless you pay them for doing that!). So, it's your responsibility to provide all the marketing materials for them to use without too much work and spending (or they use somebody else's properties).
Note: if you want to know how your property for sale compete with other similar properties in the Russian market - in terms of quality of presentation and pricing - you have to perform your own research.
Are Russian Realtors the Buyer's agents?
Most of the time "yes". Promoting their agency's services in international real estate, they have the Russian Buyers coming to them with inquiries, and offer the Buyers help with finding the right properties to consider for purchasing.
So, IF you are at the right place (in their database) and time (when a suitable Buyer comes their way), you are lucky! Thus, send your detail property for sale information to as many Russian real estate companies dealing with international sales of your country, be up to date in their databases, and your chances to sell to the Russian Buyers are high.
Even if your property has not been used by the Russian Realtors in any advertising for their agency, it's been saved in their database till a proper Buyer may show up at their office.
Note: it's a great idea to remind them about your property from time to time if it's still not sold. You can do so by emailing them some good news, for example: you've decided to lower the price, or there are some improvements to the local area that make your property even more attractive, and so on.
Repeat some major points of your first offer, of course, along with the news - to let them place the update in the proper place in the database.
Russian Realtors Commissions: Usually Russian Realtors charge only Sellers for their services of sending them Buyers.
To your best business success,
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