Property consultancy has very specific standards in Europe and the USA. On the other hand, unfortunately, we cannot say the same for Turkey. Although brands might be familiar to you, property consultancy companies in Turkey are operated by local actors, except for a few international companies which are working in commercial property markets; offices, retail, industrial, hotels and leisure and major investments.
Property Consultancy in General
Looking for an apartment for your own residential needs, an income-producing property, an office to let for your business, a factory building, or a development site can be a mess, even a total loss of time or simple and beneficial practice. The Key element determining the end result of this gigantic difference is working with a proper property consultant. The COVID 19 pandemic has also increased the importance of taking proper property consultancy service in order to save time and getting in contact with a minimum amount of people.
Despite the waving happened all around the globe’s economies and property markets in the last decade, property consultancy and development sectors in Turkey have been protecting their crowns be being vastly more profitable than many other sectors. Growing and young population has lead to an inevitable increase in the demand for residential units, the emerging private sector has shown its effect on office buildings and industrial properties, consistently increasing investments on shopping centres have seen their reflection on public demand, the never-ending tourism sector has merged with the health sector and while enhancing its quality, also evolved into the new “health tourism” sector.
It is not a surprising fact that a promising sector such as property draws the attention of global investors, but also is trying to supply for Turkey’s, and mainly İstanbul’s rapidly growing international community’s demands. As mentioned above, whether your demand is too big or small although it has a lot to offer, it can also be a stomach-ache to find the right solution to your demand in a city of 16 million without the right property consultancy. At the end of the day, despite the international nature of this beautiful city it is vital to find the right local help.
Property Consultancy in Turkey
This is where your humble real estate property consultant steps in. Regional and sectoral experience and expertise will guide the investor and occupier to save time and money as long as they move along with the right partner in the solution. You may see property consultancy brands that are familiar to you from your homeland; just keep in mind that the vast majority of those are operated by local investors and employee. Therefore, getting a recommendation from a third party that is cooperating with agencies on a professional basis would be far more beneficial rather than sticking with the brand. The right property consultancy can be a lifesaver no matter the magnitude of your demand.
In case you do your search online, make sure that the photographs in the advertisements are genuine. Unfortunately, some property consultancy companies may use fake advertisements in order to develop a wider client portfolio. Do not hesitate to ask if the photographs given in the adverts truly belong to the given property and information given in the advertisement, especially the price or rent amount are solid. Location information of the properties adverted might also be garbled.
Property Consultancy; Exclusivity or Working with Multiple Companies?
Property consultancy companies in Turkey are usually focused on districts. Very few property consultancy companies are specialized in sectors such as residential, offices or industrial properties. Another issue is the language; many property consultancies companies do not employ sufficient English-speaking staff.
Therefore, first, make sure you receive proper local help in English. Communication is vital in order to find the right result for your demand. Keep in mind that property consultancy is not just a touristic journey between various properties but providing spot-on solutions to your demand. You need to receive right information on legal, administrative and market value sides altogether. A bilingual lease agreement will be beneficial for your information as well. As a result, working with a trustworthy property consultancy company with English speaking staff on a sole agency basis would be to your benefit.
Property Consultancy Operation
Then decide if you are looking for a property in a specific location or still looking at a variety of districts. Ask your consultant to provide you with a long list of options according to the standards that you determine, location, type of property, condition of the property and budget. That is where proper property consultancy service steps in. Your consultant should tell you if your standards are consistent or not and tell you If any change is necessary or not in this step. You may need to revise your budget, location or any other standard that you have given in order to save time. This has always been a vital element of property consultancy, but it has been literally lifesaving in COVID 19 pandemic days by making your travel less and getting in contact with less amount of people. Keep in mind that property consultancy companies also cooperate with each other. The list that is to be presented to you should and most probably would be consisted of various properties from the portfolio of multiple property consultancy companies.
The second step is getting to a short list among the options provided to you from the initial list that has been presented to you before. Normally, it is only normal to visit all the options presented in the long list. But considering the fact that we are living in exceptional days with COVID 19 pandemic, it would be the best option if you visit the options in your short list. These days made a proper property consultancy service far more beneficial for everyone more than ever.
Property Consultancy and Legal Advice
Contrary to the practice in Europe and USA, traditionally, especially in leasing transactions, agreements are prepared by property consultant themselves rather than lawyers or legal advisors. Considering the fact that the Turkish text is to be valid in the eye of the courts in case there is any dispute even if the agreement text is bilingual, it is always the safest way to get a lawyer’s opinion rather than property consultant’s alone. Keep in mind that no matter how specialised your consultant is, he or she might be unaware of the latest laws and regulations and might be acting against your benefits even in good faith.
To sum up, property consultancy is an essential service is done properly and even more vital in the exceptional days of COVID 19 pandemic.