It is not difficult to find someone willing to help you buy or sell property in Malta and Gozo. Real estate agents are plentiful. The challenge, however, is finding the right one. In a sector brimming with competition, RE/MAX Malta COO Jeff Buttigieg explains why success rests on the shoulders of specialists.
Buying a property is arguably the biggest investment most people make in their lives. To start with, the financial commitment is burdensome. And then there is the time and effort it takes over months or even years. For the seller, the process can be just as arduous, even if they turn to an agency for assistance.
Finding the right professional can make or break the real estate experience. It goes without saying that a buyer or seller needs to trust their agent, but that only comes from knowing that the right skills and expertise are being brought to the table. This is why RE/MAX Malta COO Jeff Buttigieg advises seeking out a specialist.
“People tend to overlook the fact that there are different kinds of real estate agents,” Buttigieg explains, “and simply settling for the first one you come across could harm your experience in the property market. There are generalist and specialist agents, and being mindful of the difference between the two could impact the property you end up with as a buyer or the price you get for your home as a seller.”
Generalist agents are real estate professionals whose listings include anything and everything. From sprawling villas in the back of beyond to apartments in prime residential hotspots, they opt for a ‘more is more’ approach.
In a nutshell, they choose not to specialise in a particular type of property or region.
“Broadly speaking, generalists tend to be those who are still finding their footing in the industry,” RE/MAX Malta’s COO continues, “but when working in this way, it’s a bit hit and miss. We say that these agents are just chasing their next sale, hopping from one appointment to the next instead of focusing on a smaller part of the business and becoming a guru. It’s a low return for the agent and, of course, there’ll be disappointed clients who may end up going elsewhere.
With a specialised agent, you’re already 10 steps ahead
“At RE/MAX Malta, our agents are trained to specialise. They’re guided to choose a niche within the industry, so they’ll typically represent a certain neighbourhood and property type – even perhaps a specific price band.
“By specialising, an agent creates a captive market for themselves, and they’ll get to know their listings like the back of their hand. With a specialised agent, you’re already 10 steps ahead in the process because they can make immediate connections between the right buyer and the right seller.”
Opting for a specialist means introducing finely-tuned market knowledge to the process. They replace guesswork with expertise, bringing both the buyer and seller tailored advice regarding property types, locations and prices from the get-go. Importantly, they contribute years of experience in property negotiations within their specialist area.
“When going the specialised route, you’ll benefit from efficiency and alignment in a process that can often be stressful and drawn out,” Buttigieg remarks.
“At RE/MAX Malta, we’re in an optimal position because we represent both buyers and sellers. This means that for sellers, their specialised RE/MAX associate probably already has clients looking to purchase that type of property, and vice versa.
“An agent who can fully specialise is the ideal but the property market in Malta is too small for that to be a reality. Instead, our agents specialise for about 70 per cent of their business – but that’s not to say that the other 30 per cent is without specialist input.
“RE/MAX Malta implements a referral system through which our agents can refer a client to another agent when they could benefit from the knowledge that a colleague holds.”
Buttigieg asserts that buyers and sellers should not just settle when it comes to selecting an agent to represent them.
“Everyone’s situation is different, but choosing the right real estate professional has a huge impact regardless of context,” he says.
“The most important thing is to reflect on the skills and experience that would be right for you. Then, use this to inform your search for an agent that you’d be happy placing your trust in.”
For more information, visit www.remax-malta.com.