Are you looking to rent or buy a property in Hong Kong? If so, it’s important to use the right real estate agent.
You don’t want to go with an agent that is more focused on getting you to rent or buy the property that is sitting on their books rather than focusing on what you’re looking for and meeting your needs. That’s why it’s important to work with an independent real estate agent who can act as a buyer’s or renter’s advocate and provide unbiased advice.
Here are seven key benefits of working with an independent real estate agent.
You will have access to a broader range of properties
Instead of trying to thrust properties that are on their own books, an independent real estate agent will do a thorough screen of all suitable properties available on the market in order to figure out which ones you should view.
Independent real estate agents don’t tend to have much of their “own inventory” that they need to rent out or sell and instead, they work heavily with traditional real estate companies such as Centreline, Midland Realty. This enables them to see iwhich listings are a fit for what you are looking for. Because of this, they will be able to show you more properties that actually match what you are looking for than traditional real estate agents.
An independent real estate agent is your advocate
An independent real estate agent is focused on representing your best interests and negotiating on your behalf. They want you to find a great property and they have all the properties in Hong Kong available at their fingertips. They won’t be under pressure to rent or sell particular properties.
The agent is not affiliated with any specific company and as such, they are free to represent your best interests in a variety of ways including focusing on getting you the best deal.
Saves you time
Have you wasted time trawling for properties on the internet, only to contact the agent and find the listings are out-of-date? Worse still, the agent tells you they have similar properties available, but when you go and see the properties, they are nothing like what you expected?
Gone are the days of looking at outdated property listings and dealing with multiple agents. An independent real estate agent will act as your one-stop point of contact, meaning that all communication between them and yourself is streamlined into an easy process. You will only have to explain once what type of home suits you in terms of space, location preferences, and budget. The independent real estate agent will do all the checking and you can wait to see what properties fit what your’re looking for.
Strong negotiating position
An independent real estate agent constantly deals with key participants in the real estate market. Because of this, they have access to a huge amount of knowledge and data points.
This means they are in a strong position to negotiate the best deal for you and they can engage in multiple discussions simultanteously on your behalf in an effort to negotiate the best deal.
Best of all, a good real estate agent will know when it’s time to make an offer or when it’s time to walk away from a deal.
Stay with you from start to finish
By having a single point of contact throughout your house-hunting process, you can get advice and guidance throughout your search.
If you use an independent real estate agent, they will have seen all the properties with you; so, they can help remind you of the pros and cons of each apartment and help you compare all the properties you’ve seen and figure out a strategy to secure the best deal.
Get extra help
When you choose to work with an indepedent real estate agent – the buck stops with them, so rest assured that every little detail of your project will get 100% attention no matter where it falls within their scope of practice or expertise!
Oftentimes independent agents also have an abundance of knowledge about obtaining mortgages, renovations, and interior design – this type of extra help can go a long way!
Deep knowledge of independent real estate agents
Did you know that when you are either leasing or buying a property in Hong Kong, that many things are flexible and can potentially be negotiated? This includes deposit amounts, the timing of payment, the addition or deletion of particular clauses.
If you are buying or leasing a property, it’s important to have as much help and assistance as possible. An independent real estate agent will be able to give you invaluable guidance on all the nitty-gritty details of either a lease agreement or an S&P agreement.
Professional after-sales or after-leasing assistance
Do you want to rent or buy a property in Hong Kong but need a little extra assistance in terms of figuring out mortgage rules in Hong Kong, better understanding the timing of when you will have to pay stamp tax?
An independent real estate agent should be able to provide professional after-sales or after-leasing assistance. This can come in many forms but can include:
- Property management
- Tenancy management for investors
- Relocation assistance
- Renovation services
- Feng Shui consultancy
- Interior decoration services
Our experience using an independent real estate agent in Hong Kong
We have used the services of Judy Chai from Infiniti many times during the last decade. Judy has been involved in the Hong Kong real estate market for more than 20 years and has deep connections with many key players including developers, real estate agents, lawyers, mortgage brokers, interior designers.
In our experience, Judy has been invaluable in terms of:
- Providing estimates on renovation costs
- Helping to put delayed payments into contracts to ensure enough time to close a deal
- Only showing properties that fitted the bill; no wasted time looking at properties that didn’t meet the criteria
- Providing information about other properties in the area
FAQs about real estate agents in Hong Kong
How does an independent real estate agent work with traditional agents for leasing?
When an independent real estate agent works with a traditional property sales agent, they will have to agree to split the fees. The exact split of fees will depend on each situation and their own negotiations, but at the end of the day, you as the buyer, seller, or renter should not expect to pay any extra.
Does working with an independent real estate agent cost more money?
No. You can expect to pay the exact same fees if you work with either an independent real estate agent or with a traditional real estate agent.
How does an independent real estate agent work with traditional agents for property sales and purchase?
When you purchase an apartment in Hong Kong, you can expect to pay a commission fee of approximately 1% of the value of the property to the real estate agent. The seller of the property will also pay a commission fee of around 1% to the agent.
In conclusion, you should use an independent real estate agent in Hong Kong because they will help to ensure that your property rental or purchase is a smooth process from start to finish.
They can also provide valuable information about the area and negotiate on behalf of their clients. If you’re looking for an agent who can represent your best interests while providing valuable insight into local markets, don’t hesitate to contact Judy today.