Poll Results: Challenges of Real Estate Transactions

According to our followers, 75% of them think the biggest challenge of real estate transactions is the tedious process, while 25% think the challenge is to find professionals. The process of Real Estate transactions can be really struggling, especially for the clients who aren't familiar with it.

In Greece it is a bureaucratic procedure, that takes time and money. In many cases, people who are looking to buy/sell/rent/appraise don’t know how to get started. When it comes to the first step, which is finding an agent, it may not be that hard, but finding the best one for your needs can be really complicated.

When buying or renting, the situation gets worse if the property is in another city or country and you don’t know about the local market and the city in itself. Once you finish the first step, you’ll be shown the options according to your needs and budget. Agent's knowledge about the transactions and technical details aren’t questionable, however in many cases, they provide limited information about the area. Sharing files and images can be confusing if you don’t have the right tools to do it. Email and platforms such as Google Drive, WhatsApp and Viber are common and usually the most used. Nevertheless, it doesn’t provide adequate service for real estate transactions.

Afterward, the process begins when you finally find the right property for you. The communication isn’t always clear, so frequently, clients need to meet their agents in person, to sign documents and discuss the process in itself. It also requires at least three different specialties such as lawyers, tax consultants or engineers. However, it is not easy to find an agency that provides all the services, so the clients need to look for them on their own and they tend to do it on the internet and end up choosing professionals who aren’t  100% adequate to their needs.

Also, another obstacle is the communication between professionals as they work for different companies, making the process slower and more expensive. In case you need to sell, clients aren’t always aware of everything they need to do. Basic mistakes such as the price and house conditions can slow down the process and there is a huge lack of advisory. For us, both the process and finding professionals are the biggest challenges in the Real Estate sector. Thinking about these issues, we decided to create an innovative platform where the system will provide the most qualified professionals to meet the client's needs, based on the area and budget, aiming to make it complete and simplify the process. The system counts with messaging, workgroups between specialists, automatic contract generation and files sharing. Clients can monitor their progress and interact with specialists, wich all of the interactions are made in the same platform, making it 100% transparent. Thus, the chances of misunderstandings and expenses decrease and the process flows faster.

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